SAN RAFAEL, Calif., Jan. 18
Vintage Wine Trust Inc., a real estate investment trust focused exclusively on the wine and vineyard industry, today 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.
“This strategic acquisition further diversifies our portfolio by geography
and asset type,” said Joseph W. Ciatti, Vintage Wine Trust’s chairman and
chief executive officer. “The grape processing and storage capabilities of
the property, and the ability to add a retail wine tasting and hospitality
presence, make this a great addition to our REIT.”
About Vintage Wine Trust
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. For more information, please visit Vintage Wine Trust’s
website at http://www.vintagewinetrust.com.
Safe Harbor Statement
This communication contains various “forward-looking statements.”
Forward-looking statements relate to expectations, beliefs, projections,
future plans and strategies, anticipated events or trends and similar
expressions concerning matters that are not historical facts. In some cases,
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“should,” “seeks,” “approximately,” “intends,” “plans,” “projects,”
“estimates” or “anticipates” or the negative of these words and phrases or
similar words or phrases. Statements regarding the following subjects may be
impacted by a number of risks and uncertainties including: our business and
investment strategy; our projected results of operations; completion of any
pending acquisitions; our ability to manage our anticipated growth; our
ability to obtain future financing arrangements; our estimates relating to,
and our ability to make, future distributions; our understanding of our
competition and our ability to compete effectively; market and industry trends
in the United States, and particularly in the State of California; projected
capital and operating expenditures; state of the wine industry, of which
vineyards are a critical part; availability and creditworthiness of current
and prospective tenants; interest rates; lease rates and terms; and our
qualification as a real estate investment trust. The forward-looking
statements are based on our beliefs, assumptions and expectations of our
future performance, taking into account all information currently available to
us. These beliefs, assumptions and expectations are subject to risks and
uncertainties and can change as a result of many possible events or factors,
not all of which are known to us. If a change occurs, our business, financial
condition, liquidity and results of operations may vary materially from those
expressed in our forward-looking statements.
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