On May 21, 2021, Power REIT, through a wholly owned subsidiary of the Trust, in connection with the acquisition of a 35 acre property located in Huerfano County, Colorado, entered into a 20 year triple-net lease with Walsenburg Cannabis, LLC covering a total of approximately 22.2 acres of the Property. The Lease provides that the Tenant is responsible for paying all expenses related to the Property, including maintenance expenses, insurance and taxes. The Lease requires the Tenant to maintain a medical cannabis license and operate in accordance with all Colorado regulations with respect to its operations. As part of the Lease, Power REIT agreed to fund approximately $1,546,600 of property improvements. The Lease is structured whereby after an initial deferred rent period, the rental payments provide PropCo with a full return of its original invested capital over the next three years and thereafter, provide an approximately 13.0% return increasing 3% rate per annum.