March 24, 2025 - 23:29
NEW YORK, March 24, 2025 — Rainbow Realty Group IV, LLC, in partnership with Rainbow Realty Group II, LLC and MJ Real Estate Investment Trust, has finalized a significant $12 million cross-collateralized senior mortgage loan with Verano Holdings Corp. This financing is secured by two of Verano's key cultivation and processing facilities located in North Las Vegas, Nevada, and Coolidge, Arizona.
The Arizona property, which covers an expansive 7.44 acres, is integral to Verano's operations, enhancing its capacity to meet the growing demand in the cannabis market. The North Las Vegas site complements this by providing additional operational capabilities, further solidifying Verano's position in the industry.
This strategic financial move not only supports Verano's current infrastructure but also positions the company for future growth as it continues to expand its footprint in the competitive cannabis landscape. The collaboration between the involved parties reflects a commitment to fostering development within the sector.
