Vintage Wine Trust acquires new vineyard, winery and associated wine-related real estate
Included in the acquisition are a 63-acre vineyard planted to Chardonnay and Pinot Noir, a winery, office building, tank building, and bottling and storage building.
20/01/06 The United States, Vintage Wine Trust Inc., a real estate investment trust focused exclusively on the wine and vineyard industry, has announced that it has acquired a new vineyard, winery and associated wine-related real estate for approximately $8.0 million. The assets were acquired and leased back to a leading private wine producer. The acquisition was funded with proceeds from Vintage Wine Trust's March 2005 private equity offering.
The property is located in the Edna Valley appellation in San Luis Obispo County, which is part of the California Central Coast wine-grape growing region. The Edna Valley appellation is known for producing Chardonnay, Pinot Noir and Rhone varietals.
Included in the acquisition are a 63-acre vineyard planted to Chardonnay and Pinot Noir, a winery, office building, tank building, and bottling and storage building. The facility can process approximately 4,200 tons of grapes per year and has the capacity to store approximately 3,000 barrels.
Vintage Wine Trust was the first real estate investment trust in the United States to focus exclusively on the wine and vineyard industry. The Company enables wine companies and grape growers to outsource their vineyards and other real estate assets and release capital for investment in higher returning areas and expansion, in order to increase profitability. Vintage Wine Trust currently owns six vineyards located in the Carneros appellation of Sonoma and Napa counties, Napa Valley, the Central Coast and the Central Valley in California.
http://biz.yahoo.com/prnews/060118/law070.html?.v=32
