Articles from Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it has reached an agreement with PharmaCann Inc. and its affiliates (collectively, PharmaCann) to resolve PharmaCann’s existing defaults under leases for eleven properties that the Company owns (collectively, the “Leases”), previously announced by IIP on December 20, 2024.

Innovative Industrial Properties, Inc. (IIP) (NYSEIIPR) today announced the tax treatment of its 2024 distributions as follows:

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a fourth quarter 2024 dividend of $1.90 per share of common stock, representing an annualized dividend of $7.60 per common share.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the third quarter ended September 30, 2024.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its third quarter ended September 30, 2024 after the market closes on Wednesday, November 6, 2024.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its second quarter ended June 30, 2024 after the market closes on Monday, August 5, 2024.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a second quarter 2024 dividend of $1.90 per share of common stock, representing a 4.4% increase over IIP’s first quarter 2024 dividend of $1.82 per share of common stock. The dividend is equivalent to an annualized dividend of $7.60 per common share.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a 16 acre property comprising 145,000 square feet of industrial space in Ocala, Florida, and entered into a long-term, triple-net lease with a subsidiary of AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (AYR).

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the first quarter ended March 31, 2024.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its first quarter ended March 31, 2024 after the market closes on Wednesday, May 8, 2024.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a first quarter 2024 dividend of $1.82 per share of common stock. The common stock dividends declared for the last twelve months total $7.24 per common share.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the fourth quarter and year ended December 31, 2023.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its fourth quarter and year ended December 31, 2023 after the market closes on Monday, February 26, 2024.

Innovative Industrial Properties, Inc. (IIP) (NYSEIIPR) today announced the tax treatment of its 2023 distributions as follows:

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a fourth quarter 2023 dividend of $1.82 per share of common stock. The common stock dividends declared for 2023 total $7.22 per common share. IIP has increased its common stock dividends declared each year since its inception in 2016.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the third quarter ended September 30, 2023.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its third quarter ended September 30, 2023 after the market closes on Wednesday, November 1, 2023.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a third quarter 2023 dividend of $1.80 per share of common stock. The common stock dividends declared for the last twelve months of $7.20 per common share represent an increase of $0.40, or 6%, over dividends declared for the prior twelve months.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the second quarter ended June 30, 2023.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its second quarter ended June 30, 2023 after the market closes on Wednesday, August 2, 2023.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the first quarter ended March 31, 2023.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today the hiring of David Smith as Chief Financial Officer and Treasurer, and the promotions of Catherine Hastings to Chief Operating Officer and Ben Regin to Chief Investment Officer.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a first quarter 2023 dividend of $1.80 per share of common stock. The common stock dividends declared for the last twelve months of $7.15 per common share represent an increase of $1.00, or 16%, over dividends declared for the prior twelve months.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the fourth quarter and year ended December 31, 2022.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its fourth quarter and year ended December 31, 2022 after the market closes on Monday, February 27, 2023.

Innovative Industrial Properties, Inc. (IIP) (NYSEIIPR) today announced the tax treatment of its 2022 distributions as follows:

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today its operating, investment and capital markets activity for the quarter and year ended December 31, 2022.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a fourth quarter 2022 dividend of $1.80 per share of common stock. The common stock dividends declared for the year ending December 31, 2022 of $7.10 per common share represent an increase of $1.38, or 24%, over dividends declared for the year ended December 31, 2021.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the third quarter ended September 30, 2022.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its third quarter ended September 30, 2022 after the market closes on Wednesday, November 2, 2022.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a third quarter 2022 dividend of $1.80 per share of common stock. The common stock dividends declared for the twelve months ending September 30, 2022, of $6.80 per common share represent an increase of $1.34, or 25%, over dividends declared for the twelve months ended September 30, 2021.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property comprising approximately 104,000 square feet of industrial space in Webster, Massachusetts.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the second quarter ended June 30, 2022.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its second quarter ended June 30, 2022 after the market closes on Wednesday, August 3, 2022.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it entered into an amendment of the lease with Green Thumb Industries Inc. (Green Thumb) (CSE: GTII; OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE dispensaries. The lease amendment in Danville, Pennsylvania, provided $55.0 million in reimbursement to Green Thumb for the recently completed development of a 152,000-square-foot industrial building for cultivation and processing, in addition to a new electric substation on the property to enhance electrical load capacity. The lease amendment also adjusted the base rent under the lease to take into account the additional available funding for the development. IIP funded in full the reimbursement, making IIP’s total investment in the 300,000-square-foot property $94.6 million. This lease amendment was made pursuant to the exercise of an option by Green Thumb for IIP to provide reimbursement of these improvements, with this option originally included in a lease amendment executed in 2021.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced that it closed on the acquisition of a property in Texas, and entered into a long-term lease with a subsidiary of Texas Original Holdings, LLC (Texas Original).

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a second quarter 2022 dividend of $1.75 per share of common stock. The dividend is equivalent to an annualized dividend of $7.00 per common share.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property comprising approximately 104,000 square feet of industrial space in Taunton, Massachusetts.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the first quarter ended March 31, 2022.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it entered into an amendment of the lease with PharmaCann Inc. (PharmaCann) in Hamptonburgh, New York, making available $45.0 million in funding for the development of a new 98,000-square-foot industrial building for cultivation and significant enhancements in production capacity and additional upgrades at the existing 127,000-square-foot facility. The lease amendment also adjusted the base rent under the lease to take into account the additional available funding for the development and qualifying improvements to the existing facilities. Assuming full payment of the additional funding, IIP’s total investment in the 225,000-square-foot property will be $108.5 million (approximately $482 per square foot).

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its first quarter ended March 31, 2022 after the market closes on Wednesday, May 4, 2022.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, today announced that it is aware of a short-seller report released earlier today, that contains numerous false and misleading statements about IIP. Similar to a short-seller report previously issued in 2020, this short-seller report is flawed and demonstrates a basic lack of understanding of commercial real estate generally, the regulated cannabis industry and IIP’s straightforward, simple business model.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced that it closed on the acquisition of a Maryland property comprising approximately 84,000 square feet of industrial and greenhouse space.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today its operating, investment and capital markets activity from January 1, 2022 through today.

Innovative Industrial Properties, Inc. (the “Company”) (NYSEIIPR) announced today the full exercise of the underwriters’ option to purchase an additional 236,842 shares of common stock in connection with the Company’s previously announced follow-on offering that priced on April 1, 2022. In total, the Company sold 1,815,790 shares of common stock in the offering, raising gross offering proceeds of approximately $345.0 million.

Innovative Industrial Properties, Inc. (the “Company”) (NYSEIIPR) announced today the pricing of an underwritten public offering of 1,578,948 shares of its common stock at $190.00 per share for gross proceeds of approximately $300.0 million. The offering is expected to close on or about April 5, 2022, subject to customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to an additional 236,842 shares of its common stock. All of the shares are being sold by the Company.

Innovative Industrial Properties, Inc. (the “Company”) (NYSEIIPR) announced today that it has commenced a public offering of 1,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 150,000 shares of its common stock. All of the shares are being sold by the Company.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a first quarter 2022 dividend of $1.75 per share of common stock, representing an approximately 17% increase over IIP’s fourth quarter 2021 dividend of $1.50 per share of common stock, and an approximately 33% increase over IIP’s first quarter 2021 dividend of $1.32 per share of common stock. The dividend is equivalent to an annualized dividend of $7.00 per common share.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the fourth quarter and year ended December 31, 2021.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in New Jersey, and entered into a long-term lease with a subsidiary of Ascend Wellness Holdings, Inc. (AWH) at the property.

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its fourth quarter and year ended December 31, 2021 after the market closes on Wednesday, February 23, 2022.

Innovative Industrial Properties, Inc. (the “Company”) (NYSEIIPR) announced today that its operating partnership, IIP Operating Partnership, LP (the “Operating Partnership”), has commenced a public offering, subject to market and other conditions, of $300 million aggregate principal amount of senior notes due 2027 (the “notes”).

Innovative Industrial Properties, Inc. (IIP) (NYSEIIPR) today announced an amendment to its initial tax treatment of its 2021 distributions that was provided in a press release dated January 28, 2022. The amended tax treatment of its 2021 distributions is as follows:

Innovative Industrial Properties, Inc. (IIP) (NYSEIIPR) today announced the tax treatment of its 2021 distributions as follows:

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today its operating, investment and capital markets activity from October 1, 2021 through today.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a fourth quarter 2021 dividend of $1.50 per share of common stock. The dividend is equivalent to an annualized dividend of $6.00 per common share.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a portfolio of 27 properties in Colorado, Pennsylvania and North Dakota that are 100% leased for use as regulated cannabis dispensing, processing and/or cultivation facilities. The aggregate purchase price for the portfolio was approximately $72.7 million (excluding transaction costs).

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the quarter ended September 30, 2021.

Innovative Industrial Properties, Inc. (“IIP”) (NYSEIIPR) today announced that its operating partnership, IIP Operating Partnership, LP, has completed its exchange offer for its unregistered 5.50% Senior Notes due 2026. These notes were originally issued on May 25, 2021 in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, in an aggregate principal amount of $300,000,000. The terms of the new series of notes are substantially identical in all material respects to those of the original notes, except for transfer restrictions and registration rights relating to the original notes. In addition, the new notes bear different CUSIP and ISIN numbers than the original notes.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a 201,000 square foot industrial property in Desert Hot Springs, California, and entered into a long-term lease with Gold Flora, LLC (Gold Flora).

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today its operating, investment and capital markets activity from July 1, 2021 through today.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it is extending its long-term real estate relationship with Goodness Growth Holdings, Inc. (f/k/a Vireo Health International, Inc., “Goodness Growth”) (CSE: GDNS; OTCQX: GDNSF), with the acquisition of approximately 92.3 acres in New York adjacent to one of IIP’s properties leased to Goodness Growth, where IIP and Goodness Growth will partner on the development of 324,000 square feet of industrial space.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced that it closed on the acquisition of a property in Missouri, and entered into a long-term lease with CPC of Missouri – Smithville, LLC (CPC), a subsidiary of Calyx Peak, Inc. (Calyx).

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a third quarter 2021 dividend of $1.50 per share of common stock, representing an approximately 7% increase over IIP’s second quarter 2021 dividend of $1.40 per share of common stock, and an approximately 28% increase over IIP’s third quarter 2020 dividend of $1.17 per share of common stock. The dividend is equivalent to an annualized dividend of $6.00 per common share, and is the twelfth dividend increase since IIP completed its initial public offering in December 2016.

Innovative Industrial Properties, Inc. (“IIP”) (NYSEIIPR) today announced that its operating partnership, IIP Operating Partnership, LP, has commenced an exchange offer for its outstanding unregistered 5.50% Senior Notes due 2026. These notes were originally issued on May 25, 2021 in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, in an aggregate principal amount of $300,000,000. Holders of these notes may exchange them for an equal principal amount of a new issue of 5.50% Senior Notes due 2026 pursuant to an effective registration statement on Form S-4 filed with the Securities and Exchange Commission. The terms of the new series of notes are substantially identical in all material respects to those of the original notes, except for transfer restrictions and registration rights relating to the original notes. In addition, the new notes will bear different CUSIP and ISIN numbers than the original notes.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Hancock, Maryland, and entered into a long-term lease with a subsidiary of Harvest Health & Recreation Inc. (Harvest) (CSE: HARV, OTCQX: HRVSF).

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today results for the quarter ended June 30, 2021.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced that it closed on the acquisition of a property in Illinois, and entered into a long-term lease with a subsidiary of 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (4Front).

Innovative Industrial Properties, Inc. (NYSEIIPR) announced today it will report results for its second quarter ended June 30, 2021 after the market closes on Wednesday, August 4, 2021.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today its operating, investment and capital markets activity from April 1, 2021 through today.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a second quarter 2021 dividend of $1.40 per share of common stock, representing an approximately 6% increase over IIP’s first quarter 2021 dividend of $1.32 per share of common stock, and an approximately 32% increase over IIP’s second quarter 2020 dividend of $1.06 per share of common stock. The dividend is equivalent to an annualized dividend of $5.60 per common share, and is the eleventh dividend increase since IIP completed its initial public offering in December 2016.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it has published its inaugural Environmental, Social and Governance (ESG) report. The report highlights how the company is addressing the top ESG priorities that matter to its stockholders, employees, tenant partners, communities and other stakeholders.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in North Adams, Massachusetts, comprising approximately 70,000 square feet of industrial space.

Innovative Industrial Properties, Inc. (the “Company”) (NYSEIIPR) announced today that its operating partnership, IIP Operating Partnership, LP (the “Operating Partnership”), priced a private offering of $300 million aggregate principal amount of 5.50% Senior Notes due 2026 (the “notes”). The notes mature on May 25, 2026. Interest on the notes is payable semiannually on May 15 and November 15 of each year, with the first payment on November 15, 2021. The offering is expected to close on May 25, 2021, subject to customary closing conditions.

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSEIIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Warren, Michigan, comprising approximately 85,000 square feet of industrial space.