Power REIT buys Oklahoma greenhouse cultivation facility for $2.65M, expecting to renovate 'rapidly'
Power REIT (NYSEAMERICAN:PW) CEO David Lesser tells Proactive it has acquired a 9.35-acre greenhouse cultivation facility and property in Oklahoma for about $2.65 million.
Lesser says Power REIT has agreed to fund the renovation, and expects to turn it around ‘very quickly’ and ramp it up ‘rapidly.’
Vinita Cannabis LLC (VC), which will operate the property as a cannabis cultivation facility, and has entered into a 20-year “triple-net” lease with the group.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/952367/power-reit-buys-oklahoma-greenhouse-cultivation-facility-for-265m-expecting-to-renovate--rapidly--952367.html
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