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Innovative Industrial Properties

Park City, Utah, United States · Cannabis, Financial Services, Real Estate

Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2

Key facts

Headquarters
Park City, Utah, United States
Employees
21
Industries
Cannabis, Financial Services, Real Estate
Status
Public (IIPR)
Website
innovativeindustrialproperties.com
LinkedIn
Company page

Recent activity at Innovative Industrial Properties

  • : SEC 8-K (7.01): On November 2, 2026, Innovative Industrial Properties, Inc. disclosed an investor presentation on their website, which is referenced as Exhibit 99.3 in the filing. This presentation provides insights into the company's financial performance and strategic direction. The filing clarifies that the information is furnished and not formally filed under the Exchange Act, thus limiting liability under that section. This public disclosure aims to keep investors informed and was timed to coincide with the release of supplemental financial information for the quarter ended September 30, 2026.
  • : SEC 8-K (1.01): On October 21, 2026, Innovative Industrial Properties, Inc. and its operating partnership, IIP Operating Partnership, LP, entered into Amendment Number Six to their existing Loan Agreement. This Amendment extends the maturity date of the Loan Agreement from October 23, 2026, to January 21, 2027, while maintaining the original terms of aggregate commitments, interest rates, and covenants. IIP OP paid an extension fee to the lenders, and as of the amendment date, $62.5 million was outstanding under the Loan Agreement. This change is significant as it allows for continued borrowing flexibility for the Company, enhancing its financial operations during the extension period.
  • : SEC 8-K (1.01):
  • : SEC 8-K (1.01): On September 28, 2026, Innovative Industrial Properties, Inc. entered into the Sixth Amendment to the Amended and Restated Mezzanine Loan and Security Agreement. This agreement involves IIP Life Science Investments II LLC, a wholly owned subsidiary of IIP Operating Partnership, LP. The amendment updates terms related to financial arrangements originally established on September 30, 2025. Specific financial amounts or conditions have not been detailed in the filing, but this change is critical for the company's operational finance strategy as it continues to manage its lending and investment activities.
  • : SEC 8-K (5.03): Innovative Industrial Properties, Inc. filed Articles of Amendment with the State Department of Assessments and Taxation of Maryland, effective September 25, 2026, to increase its total number of authorized shares from 100,000,000 to 175,000,000. This increase includes raising the authorized common stock from 50,000,000 to a higher limit, thus allowing the company more flexibility to issue equity in the future. This change is significant as it may facilitate future capital raises and potentially provide the company with more resources for growth and expansion.
  • : SEC 8-K (8.01): On August 31, 2026, Innovative Industrial Properties, Inc. reported an update regarding its Existing Equity Distribution Agreements with financial institutions, including BTIG, LLC and Jefferies LLC. These agreements allow the company to issue shares of its common and preferred stock as market conditions permit. The initial agreements were established on May 24, 2024, with amendments made on February 26, 2025, indicating ongoing capital raising efforts. The strategic implications suggest that the company is actively managing its equity capital to support growth initiatives within the rapidly evolving real estate sector focused on regulated cannabis cultivation.
  • : SEC 8-K (7.01): On August 3, 2026, Innovative Industrial Properties, Inc. disseminated an investor presentation on its official website. This presentation is part of a Regulation FD disclosure aimed at informing shareholders and analysts about the company's current situation and future outlook. The filing includes references to accompanying exhibits, such as a press release and supplemental financial information for the quarter ended June 30, 2026, which further elaborate on the company's performance and strategic initiatives. The information is not intended to be filed under the Securities Exchange Act but serves to provide transparency to investors regarding recent developments and financial insights.
  • : SEC 8-K (2.02): On August 3, 2026, Innovative Industrial Properties, Inc. reported its financial results for the second quarter ending June 30, 2026. The company issued a press release and provided supplemental financial information on its website, reflecting key performance metrics and operational updates for the quarter. This disclosure is significant as it provides investors and stakeholders with insights into the company's financial health and business performance. The date of the event, August 3, 2026, indicates timely reporting of financial conditions that could impact investment decisions.
  • : SEC 8-K (8.01): On July 20, 2026, Innovative Industrial Properties, Inc. reported that Parallel, an affiliate of SH Parent, Inc., defaulted on its rent obligations for the month of July under two leases. The total amount of defaulted payments, including base rent, estimated taxes, and penalties, amounts to approximately $1.6 million. Parallel has also indicated its intent to vacate the properties in Florida and surrender possession back to Innovative. The Company intends to work with Parallel for a smooth transition while holding security deposits to cover some defaulted amounts. This event indicates potential financial implications for the Company, affecting 5.2% of its annualized contractual rent and income.
  • : SEC 8-K (1.01): On June 15, 2026, IIP Operating Partnership, LP entered into a material definitive agreement to issue $402,500,000 in aggregate principal amount of 6.00% exchangeable senior notes due 2029. This issuance was made under a Purchase Agreement dated June 9, 2026, involving BTIG, LLC and other initial purchasers. The notes feature a semi-annual interest payment schedule and are fully guaranteed by Innovative Industrial Properties, Inc. The transaction enhances the Operating Partnership's capital structure, allowing for flexibility in financing while providing investors with a competitive interest yield of 6.00%. Additionally, the notes are effectively senior to subordinated indebtedness, providing security for investors.

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About Innovative Industrial Properties: questions and answers

What does Innovative Industrial Properties do?

Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2

Where is Innovative Industrial Properties headquartered?

Innovative Industrial Properties is headquartered in Park City, Utah, United States.

How many employees does Innovative Industrial Properties have?

Innovative Industrial Properties has about 21 employees.

What is the latest news on Innovative Industrial Properties?

On Nov 02, 2026, SEC 8-K (7.01): On November 2, 2026, Innovative Industrial Properties, Inc. disclosed an investor presentation on their website, which is referenced as Exhibit 99.3 in the filing. This presentation provides insights into the company's financial performance and strategic direction. The filing clarifi

Is Innovative Industrial Properties a public company?

Yes. Innovative Industrial Properties is publicly traded under the ticker IIPR.

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