On January 4, 2021, 2021, Power REIT (Power REIT), through a wholly owned subsidiary of the Trust (PropCo), in connection with the acquisition of two properties totaling 4.21 acres located in Crowley County, Colorado (the Property), entered into a triple-net lease (the "Lease") with The Grail Project, LLC (the Tenant). 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 agreement, Power REIT agreed to fund the construction of an approximately 21,732 square foot greenhouse/processing facility on the Property for a total capital commitment of approximately $1.84 million. The Lease is structured whereby after an initial deferred rent period to allow for construction of the facilities, the rental payments provide PropCo with a full return of its original invested capital over the next three years and thereafter, provide an approximately 13.2% return increasing 3% rate per annum.