Vintage Wine Trust
From WikiCover
Vintage Wine Trust is a real estate investment trust focused on vineyards, wineries, and other wine related assets. Vintage Wine Trust's strategy of acquiring properties and net leasing them to the sellers or third parties allows wineries and grape growers the potential to increase profitability and returns, by providing access to capital previously locked into the real estate, while permitting them to operationally control the property.
Vintage Wine Trust currently owns fourteen properties totaling approximately $165 million, including two winery facilities with vineyards, with a total crush capacity of 11,000 tons, and fourteen vineyards, totaling 5,897 net vine acres, located in various wine regions in California, Oregon, and Washington.
On September 10, 2007, Vintage Wine Trust announced its purchase of the Grandview Vineyards in Washington State. The property, located in the Yakima Valley AVA, one of Washington's premium wine regions, was purchased from the Den Hoed family for $12.4 million. The Grandview Vineyards consist of approximately 700 gross acres across four properties, 568 acres of which are planted vineyard and 84 acres are apple orchard. The four properties are known as Desert Hills Vineyard, Andrew Den Hoed Farms, Foothill Vineyard and Rattlesnake Vineyard. The vineyards are planted predominantly to Reisling, Chardonnay and Merlot, with the vast majority of grapes under contract to Ste. Michelle Wine Estates, the most established wine producer in Washington State. The property will be leased back to the two tenant-principals, Andy Den Hoed, Jr. and William Den Hoed, who will continue to live on and manage the ranch for the foreseeable future. The initial lease term runs through December 31, 2011 and provides four five-year renewal options.
Website: http://www.vintagewinetrust.com/