PW - Mergers and acquisitions

First Food Crop Transaction for the Cultivation of Tomatoes Old Bethpage, New York, April 01, 2022 (GLOBE NEWSWIRE) -- Power REIT (AMEX:PW) ("Power REIT" or the "Trust") today announced that it has acquired a 1,121,513 square foot Controlled Environmental Agricultural ("CEA") greenhouse cultivation facility, and associated employee housing property in O'Neill, Nebraska (the "Property") through a wholly owned subsidiary ("PropCo") for $9.35 million. Simultaneous with the acquisition, Power REIT entered into a long-term, triple-net lease with Millennium Produce of Nebraska LLC ("MillPro"). As part of the transaction, Power REIT has agreed to fund capital improvements to upgrade the tomato-

ATLANTA, Jan. 20, 2022 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQX:UCASU) announces the company is finalizing the acquisition of a piece of cannabis property in Oklahoma City, at the price of $500,000, which will be 77% less than the original marked price of $2.2 million. The property is a 4-acre medical marijuana indoor/outdoor property, including several buildings, greenhouses, and remodeled containers. Annual output may generate sales between $500,000 to $900,000 if leased to a seasoned grower. "At this moment, it looks like we will be able to close the property at $500,000," declares Greg Bankston, managing general partner of UC Asset. "The seller originally asked for $2.2 mi

ATLANTA, Dec. 13, 2021 /PRNewswire/ -- UC Asset LP (OTCQX:UCASU) announces the company's management team has just concluded the phase I due diligence on a piece of cannabis property in Oklahoma, and already reduced the target price by almost 60%. "Our LOI with the seller, came into effect on December 6, gave us 60 days to conduct our due diligence," explains Greg Bankston, managing general partner of UC Asset. "Last week our management team traveled to Oklahoma for a thorough on-site inspection. Based on our findings, we successfully challenged its revenue projection, which leads to us convincing the seller to reduce the target price to $900,000, from the original asking price of $2.2 millio

The Greenhouse will be the Largest Cannabis Cultivation Facility in Michigan and one of the Largest in the United States Old Bethpage, New York, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Power REIT (AMEX:PW) ("Power REIT" or the "Trust") today announced that it has closed on its previously announced greenhouse cultivation facility acquisition in Marengo Township, Michigan (the "Property") through a wholly owned subsidiary ("PropCo"). The Property is comprised of approximately 556,000 square feet and is located in the "Marijuana Overlay District" of Marengo County which allows for unlimited cannabis cultivation licenses. The 61-acre property has existing plans in place to add 330,236 square feet

Old Bethpage, New York, May 24, 2021 (GLOBE NEWSWIRE) -- Power REIT (AMEX:PW) ("Power REIT" or the "Trust") today announced that it has acquired a 35-acre property located in Huerfano County, Colorado (the "Property") through a wholly owned subsidiary ("PropCo"). The Property is strategically located in a part of southern Colorado that offers a very favorable business setting and growing environment for efficient and sustainable greenhouse cultivation. The property currently has multiple greenhouses and support buildings which will be upgraded through a redevelopment plan that Power REIT will fund along with the new construction of additional greenhouse space. Upon completion, the Propert

Enters into Long-Term Lease with Cloud Nine Farms – a Minority Owned Business Old Bethpage, New York, April 20, 2021 (GLOBE NEWSWIRE) -- Power REIT (AMEX:PW) ("Power REIT" or the "Trust") today announced that it has acquired two adjacent property parcels totaling 4.0 acres in Crowley County, Colorado (the "Property") through a wholly owned subsidiary ("PropCo"). The Property is strategically located in a very favorable business setting of Southern Colorado that offers a growing environment for efficient and sustainable greenhouse cultivation. As part of the transaction, Power REIT has agreed to fund the construction of an approximately 38,440 square foot greenhouse cultivation facili

Old Bethpage, New York, March 12, 2021 (GLOBE NEWSWIRE) -- Power REIT (NYSE-AMEX: PW and PW.PRA) (“Power REIT” or the “Trust”) today announced that it has acquired an additional 2.2 acre parcel in Crowley County, Colorado (the “Property”) through a wholly owned subsidiary (“PropCo”). The Property is strategically located in a part of southern Colorado that offers a very favorable business setting and growing environment for efficient and sustainable greenhouse cultivation. As part of the transaction, Power REIT has agreed to fund the construction of approximately 24,512 square feet of greenhouse and processing space for its new tenant, Gas Station LLC (“Gas Station”). Power REIT’s total c