Power REIT Buys Colorado Greenhouse Property In Lease-Back Deal With The Apotheke

By Benzinga11 days ago

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Real estate investment trust Power REIT (NYSE-AMEX: PW) has purchased a 4.3-acre property in Ordway, Colorado.

The property has been leased by The Apotheke, a Minority Woman-Owned Business run by dispensary operator Viviana Fernandez.

Power REIT is set to financially support the 21,558 square-foot property — which includes a greenhouse and processing facility — with $1.8 million.

At the same time, PropCo signed a 20-year triple-net lease with Apotheke, which runs the cannabis cultivation facility. The Apotheke is obliged to fund all property connected costs, such as ...

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