Real Estate Prowess

Gould Investors L.P. (“Gould”), RRG's lead investor and operating partner, has a six-decade track record of success producing strong and safe returns for its investors. Gould and its affiliates have founded a variety of niche real estate businesses and currently manages two publicly traded REITs. Rainbow is the next iteration of Gould’s decades long tradition of success finding niche opportunities where returns exceed relative risk.

1970

1986

1989

2000

2013

2019

2022

Gould Investors Trust converted into a REIT

Gould Investors L.P., converted into a master limited partnership (MLP)

Gould took over OLP, a firestone tire and rubber captive REIT.

Gould invests in EPR and OLP, stadium theater portfolio

Gould enters the cannabis industry by financing a NJ cannabis license winner

RRG Fund I is formed with $54M AUM

RRG Fund III is formed as a joint venture with a family office

1962

1983

1984-88

1990-94

2012

2018

2021

Gould took over Berg Realty Trust (BRT) and converted it into a mortgage REIT

Gould has multiple profitable investments in NYC co-ops

BRT transformed into multifamily REIT

RRG is formed: Gould begins financing real estate for U.S. cannabis

RRG Fund II is formed with $51M AUM

Gould Properties Inc., a diversified New York city real estate portfolio, is founded with a public offering

Gould acquires Bayside Fed, Bankers Fed and Bank of Great Neck. Public to private

bank conversions.

RRG Fund I

RRG formally launched its first fund in 2019, after 6 years of experience investing in the space. RRG “Fund I” has $54M AUM and, as of Q3 2023, is fully deployed. The fund is only 12% levered, assisting our position of being insensitive to interest-rate fluctuations.

RRG Fund II

RRG launched its second fund in 2021, continuing off the success of the inaugural fund. RRG “Fund II” has $51M AUM and as of Q4 2023 is 100% deployed. Fund II utilizes a similar strategy as Fund I investing across different real estate asset classes.

Projected* 17% IRR

26 Properties

60% Senior Mortgages

40% Sale-Leasebacks

Projected* 18.5% IRR

41 Properties

80% Senior Mortgages

20% Sale-Leasebacks

RRG Fund III

RRG launched Fund III in 2023 as a joint venture with a large family office.

Projected* 18% IRR

13 Properties

100% Senior Mortgages

0% Sale-Leasebacks

Affiliate Companies

Gould Investors L.P.

Gould Investors L.P. is a master limited partnership that owns and operates a diversified portfolio of real estate assets located throughout the United States exceeding $2.5B worth of assets. Unlike many real estate investors, Gould is focused on long-term value creation over short-term returns. Gould is the largest investor in Rainbow and Gould’s Executive Board comprises Rainbow’s Investment Committee. Gould is the controlling shareholder of NYSE: OLP and NYSE: BRT.

One Liberty Properties

One Liberty Properties (NYSE: OLP) acquires, owns and manages a diversified portfolio of net leased assets in the United States. OLP owns over 120 properties in 40 states across the U.S. OLP’s portfolio is 60% industrial, 30% retail and 10% flex. OLP has a 34-year track record of success investing capital for Gould and outside investors.

BRT Apartments

BRT Apartments Corp. (formerly known as BRT Realty Trust) is a REIT trading on the New York Stock Exchange (NYSE: BRT) that is focused on investing directly and through joint ventures acquiring existing multifamily properties, and to a limited extent ground up development of multifamily apartments. BRT has a 40-year track record of success investing capital for Gould and outside investors.

Majestic Property Management

Majestic Property Management Corp. was founded in 1978. Majestic is a privately-held real estate organization specializing in management, contracting, and leasing of properties. Majestic Manages 15 residential properties, 10 commercial properties, and 8 retail properties.

*Disclaimer

TCertain information contained in this presentation constitutes forward-looking statements (which can be identified by the use of terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “plan” or “believe,” or comparable terminology). Such statements are based upon certain assumptions. Events, which may not have been considered, may occur and may significantly affect performance. Any assumptions should not be construed to be indicative of the actual events that will occur. Actual events are difficult to predict and may depend upon factors that are beyond the control of Rainbow Realty Group LLC. Some important factors which could cause actual results to differ materially from those reflected, contemplated projected or estimated in any forward looking statements include, but are not limited to, the following: changes in financial, market, economic or legal conditions. Certain information contained herein relating to the Fund’s targets, including with respect to the size of the Fund and the size of individual investments, is subject to change and no assurance can be given that such targets will be met. None of Rainbow Realty Group LLC or any of its affiliates or principals nor any other individual or entity assumes any obligation to update any forward-looking statements as a result of new information, subsequent events or any other circumstances. All statements made herein speak only as of the date that they were made. Past performance is not indicative of future results.

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