Power REIT expands cannabis greenhouse cultivation footprint in Colorado
Power REIT said it has strategically located greenhouse investments across southern Colorado with over 83 acres comprising 383,328 sq ft of Controlled Environmental Agricultural facilities in the form of greenhouses.
After the initial 20-year term, the lease provides two, five-year renewal options and has personal guarantees from the owners of JKL2.
After an initial deferred rent period to allow for construction, the company said the lease stipulates rental payments that provide PropCo with a full return of its invested capital over the next 36 months and provides an approximate 13% yield increasing thereafter at a rate of 3% per annum.
“We also believe we can continue our growth through acquisitions using non-dilutive capital.