NEW YORK, July 02, 2024 (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 senior mortgage secured by a newly constructed industrial building in Detroit, Michigan (the "Property"). The 110,670 SF building sits on 5.49 acres and is operating as a licensed cannabis cultivation facility to service the recreational and medical markets in Michigan. The borrower purchased the land in 2018, secured its cannabis license in 2022, and thereafter built a state-of-the-art facility. The borrower also holds interests in several retail dispensary licenses across Michigan, where its products ...