Pittsburgh & West Virginia Railroad (PW)

[yanquitrader]

Power REIT Files 8K - Asset Acquisition Or Disposition >PW

2/6/20, 7:53 AM
Power REIT (PW) filed a Form 8K - Acquisition or Disposition of Assets - with the U.S Securities and Exchange Commission on February 06, 2020.

On February 2, 2020, the Trust, through each PropCo, completed the acquisition of two Properties.

Power REIT acquired "Maverick 14" for $850,000 which is 5.54 acres with an existing greenhouse and processing facility totaling 8,300 square feet. As part of the transaction, the Trust has agreed to fund the immediate expansion of 15,120 square feet of greenhouse space for $1,058,400 and the tenant has agreed to fund the construction of an additional 2,520 square feet of head-house/processing space on the property. Accordingly, Power REIT's total capital commitment totals $1,908,400.

Power REIT acquired "Sherman 6" for $150,000 which is 5.0 acres of vacant land approved for cannabis cultivation. As part of the transaction, the Trust has agreed to fund the immediate construction of 15,120 square feet of greenhouse space and 7,520 square feet of head-house/processing space on the property for $1,693,800. Accordingly, Power REIT's total capital commitment totals $1,843,800.

The total combined investment across all three properties will be approximately $3,752,200 plus acquisition expenses. The acquisitions and commitments to fund construction are being funded from existing working capital.

The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/1532619/ 000149315220001676/form8k.htm

Any exhibits and associated documents for this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/ data/1532619/000149315220001676/0001493152-20-001676-index.htm

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.