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NEW YORK, May 20, 2025 (GLOBE NEWSWIRE) — Rainbow Realty Group IV, LLC (“Rainbow”), in collaboration with Rainbow Realty Group II, LLC, and MJ Real Estate Investment Trust, announced the closing of a $6,000,000 senior mortgage secured by an industrial building in Stratford, Connecticut (the “Property”).
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The 40,476 SF building sits on 3.82 acres and is currently undergoing a renovation into a state-of-the-art cultivation facility to service the growing Connecticut cannabis market. The borrower purchased the property in October 2023 and currently operates four retail dispensaries in the state, with two more slated to come online by year end.
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Ben Bolanos, Rainbow’s Chief Operating Officer, remarked: “We’re thrilled to close our first deal in Connecticut alongside a world-class operator that’s poised to deliver some of the finest cannabis products in the state. Stratford is the perfect central location to service the state, with its easy access to I-95.”
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Connecticut’s tightly regulated, limited-license framework provides exposure to a rare and strategic foothold in one of the Northeast’s most high-potential emerging markets. The vertically integrated operator will house its cultivation and processing licenses at the Property, with plans to invest over $30 million into the project.
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Rainbow continues to expand its footprint in strategic markets across the U.S., leveraging its expertise in real estate financing and investment to capitalize on emerging opportunities in the cannabis sector.
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About Rainbow Realty Group
Rainbow Realty Group and its affiliates have deployed $160 million in real estate backed transactions in the United States. Rainbow offers sale-leaseback and mortgage financing solutions for the U.S. cannabis industry. Rainbow’s portfolio consists of 58 properties across 10 states. Rainbow’s parent company, Gould Investors L.P., has successfully invested in the real estate industry for 63 years. Gould is a significant shareholder of BRT Apartments and One Liberty Properties. For additional information, please visit https://rainbowrg.com/.
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About MJ REIT
MJ REIT is a hybrid real estate investment trust that seeks to provide investors with stability and above-market returns derived mainly through monthly income. Rainbow Realty Group is the sub advisor for MJ REIT. The Fund has a thematic emphasis on state-legal cannabis markets, focusing on industrial and retail commercial real estate, with exposure to 28 properties across eight states. For more information, please visit https://mj-reit.com/.
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Press contacts:
Tyler Gilliam
[email protected]
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English (US)