US (CT): Rainbow Realty Group completes $6M senior loan on cultivation facility

Rainbow Realty Group has closed a $6,000,000 senior mortgage secured by an industrial building in Stratford, Connecticut.

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.

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."

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.