Cannabis multistate operator Verano Holdings Corp. closed a $12 million “cross-collateralized” senior mortgage from Rainbow Realty Group and MJ Real Estate Investment Trust in which the company put up cultivation and processing properties.
The Chicago-based MSO secured the senior mortgage with a 7.44-acre property with three industrial buildings totaling 51,981 square feet in Coolidge, Arizona, and a 41,625-square-foot industrial building on 4.86 acres in North Las Vegas, Nevada, according to a Monday news release.
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Both properties are used for cultivation, manufacturing and processing to support Verano’s wholesale and retail operations in Arizona and Nevada.
“These mission-critical properties are well situated in strong real estate markets and have been updated to the highest standards,” Tyler Gilliam, vice president of New York-based Rainbow Realty
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