Innovative Industrial Properties, Inc.
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in mil. unless spec.Company Description
- CEO
- Paul E. Smithers
- Full Time Employees
- 23
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- 11440 West Bernardo Court Park City CA United States 92127
- IPO Date
- Dec 1, 2016
- CIK
- 0001677576
- Similar Companies
- Business
- Innovative Industrial Properties, Inc. (NYSE: IIPR) is a real estate investment trust (REIT) that acquires, owns, and manages specialized industrial properties leased on a long-term, triple-net basis primarily to state-licensed operators for regulated cannabis cultivation, processing, manufacturing, and distribution facilities; its portfolio comprises 109 properties totaling approximately 9 million rentable square feet across 19 states, including key tenants such as Green Thumb Industries, Curaleaf, Ascend Wellness Holdings, and Vireo Health, with facilities tailored for mission-critical operations in established regulatory environments. Founded in 2016 and headquartered in Park City, Utah, the company provides sale-leaseback transactions and real estate capital solutions to well-capitalized cannabis operators facing limited traditional financing options, generating revenue through stable rental income from its national footprint focused on medical-use and adult-use cannabis markets. In recent developments, Innovative Industrial Properties committed up to $270 million to IQHQ, Inc., a premier life science real estate platform, including a $100 million secured revolving credit facility closed in 2025 and preferred stock purchases to diversify from cannabis concentration; it resolved lease defaults with PharmaCann in early 2025 involving 11 properties, released 530,000 square feet of underperforming space representing 6% of its portfolio, and expanded its revolving credit facility capacity to $87.5 million by year-end 2024 while pursuing evictions of certain tenants like 4Front Ventures and others under a strategic tenant replacement initiative launched in 2025.
Company News
Here’s the Hands-Down Best Cannabis Stock for Dividend Investors
Why Innovative Industrial Properties (IIPR) Dipped More Than Broader Market Today
Innovative Industrial Properties Announces Third Quarter 2026 Earnings Release Date and Conference Call
Marijuana Stocks And The Cannabis Industry: What Investors Should Watch
Innovative Industrial Properties Prices Public Offering of 9.25% Series B Cumulative Redeemable Preferred Stock
Innovative Industrial Properties Prices Public Offering of 9.25% Series B Cumulative Redeemable Preferred Stock
Innovative Industrial Properties Announces Launch of Series B Preferred Stock Offering
Innovative Industrial Properties: When New Highs Mean Newer Lows
Innovative Industrial Properties (NYSE:IIPR) vs. Americold Realty Trust (NYSE:COLD) Financial Review
2 High-Octane Cannabis Stocks to Buy in October for Aggressive Investors
Innovative Industrial Properties Announces Mezzanine Loan Commitment of $245 Million for Alewife Park
Innovative Industrial Properties Announces Mezzanine Loan Commitment of $245 Million for Alewife Park
Innovative Industrial Properties (IIPR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Innovative Industrial Properties, Inc. (IIPR) To Go Ex-Dividend on September 30th
Innovative Industrial Properties: Resilient 13%+ Yield, But Too Risky At The Moment
The REIT Conundrum
Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: Here's Why
Innovative Industrial Properties Declares Third Quarter 2026 Dividends
Net Lease REITs: Diversification Or Diworsification?
Innovative Industrial Properties (IIPR) Laps the Stock Market: Here's Why