Power REIT (PW) has released an update to notify the public and investors about its asset transaction finalization.
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Power REIT’s subsidiary sold its interest in a ground lease for solar farms in Salisbury, Massachusetts, for $1.2 million to an independent party following an arm’s length negotiation. This sale aligns with the company’s strategic shift in 2019 towards Controlled Environment Agriculture and greenhouses, amidst the backdrop of a changing wholesale cannabis market that has affected the cash flow generation of their cannabis-related properties. The company is considering further options to enhance shareholder value, which may include more asset sales.
For further insights into PW financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.
