NEW YORK, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Rainbow Realty Group IV, LLC and Rainbow Realty Group II, LLC (collectively, “Rainbow”), announced the acquisition of a 415,733-square-foot industrial building on 29.19 acres in Palatka, Florida for $14,900,000. (the “Property”).
The Property was acquired all cash on August 5th, 2025. Rainbow secured a mortgage of $9,685,000 against the Property with a regional bank on October 6th at a fixed rate of 8%.
The Tenant at the Property is a multi-state operator with a footprint in three states, and a vertical operation in Florida. It has occupied the Property since 2021. The Property is used as its primary cultivation facility for Florida, where it currently has 40+ licensed retail dispensaries. The Tenant has invested more than $25,000,000 into improvements for the Property, including a 20,000amp power upgrade.
Kyle Shenfeld, Rainbow Realty Group CEO, stated: “We are very excited to finally be doing business in the state of Florida. The Tenant has a great footprint in the state and we are confident in their future, which we are glad to be a part of.”
Rainbow Realty Group IV, LLC (“Fund IV”) is Rainbow’s fourth fund in the market of cannabis-related real estate finance. Fund IV will be taking on new investors through the end of 2025. To learn more about Fund IV, please review the Fund IV Offering Information or email investors@rainbowrg.com.
About Rainbow Realty Group
Rainbow Realty Group and its affiliates have deployed $185 million in cannabis-related retail and industrial real property throughout the United States. Rainbow's largest investor and operating partner, Gould Investors L.P., (“Gould”) has invested in the real estate industry for 64 years and currently manages $2B+ in assets. Gould is a significant shareholder in BRT Apartments and One Liberty Properties. For additional information, please visit https://rainbowrg.com/
Press Contacts:
Tyler Gilliam
tyler@rainbowrg.com
