Rainbow Realty Group Completes $12 Million Senior Real Estate Mortgage Loan to Verano Holdings Corp

NEW YORK, March 24, 2025 (GLOBE NEWSWIRE) -- Rainbow Realty Group IV, LLC ("Rainbow"), in collaboration with Rainbow Realty Group II, LLC, and MJ Real Estate Investment Trust ("MJ REIT"), has successfully closed a $12 million cross-collateralized senior mortgage with Verano Holdings Corp. ("Verano") (Cboe CA: VRNO) (OTCQX:VRNOF), secured by two of Verano's premier cultivation and processing properties in North Las Vegas, Nevada and Coolidge, Arizona.

The Arizona property spans 7.44 acres and features three industrial buildings totaling 51,981 square feet, while the Nevada property includes a 41,625-square-foot industrial building on 4.86 acres. Both properties are essential for cultivation, manufacturing, and processing, supporting Verano's wholesale and retail operations in Arizona and Nevada.

Strengthening Ties with Industry LeadersThe borrower, Verano, is one of the largest publicly traded U.S. cannabis companies. Its operations span 13 states and ...