Innovative Industrial Properties Inc

From Verify.Wiki
Jump to: navigation, search
Iip.png
http://innovativeindustrialproperties.com/
Innovative Industrial Properties Inc
Type Public
Industry Real Estate
Founded 2016
Headquarters San Diego, CA, United States
Key people Paul Smithers (CEO), Robert Sistek (CFO), Alan Gold, Greg Fahey [1]
Investors IGP Advisers LLC[2]
Number of employees 6

Innovative Industrial Properties, Inc. owns and leases specialized industrial real estate assets. The Company focuses on the acquisition, disposition, construction, development, and management of industrial facilities leased to tenants in the regulated medical-use cannabis industry. [3] Innovative Industrial Properties was founded in 2016 and plans to list on the NYSE under the symbol IIPR. Ladenburg Thalmann & Co. is the sole bookrunner on the deal. A pricing date has not yet been disclosed. The company plans to raise $175 million by offering 8.8 million shares at a price of $20. At the proposed price, Innovative Industrial Properties would command a fully diluted market value of $202 million. [4]


Services

The company targets medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term triple-net leases. [5] They provide :

  • Medical-Use Cannabis Cultivation and Processing Facilities
  • Sophisticated Medical-Use Cannabis Growers - Work with growers who have been among the top candidates in the rigorous state licensing process.
  • Long-Term, Triple-Net Arrangements - Their leases with tenants are generally long-term triple-net lease arrangements, where the tenant is responsible for taxes, maintenance, insurance and structural repairs, in addition to base rent.

Controversies

None Reported

Top 5 Recent Tweets

DateAuthorComment
May 15, 2021cannabanastock_mj: RT @live_parallel: Parallel announces the completion of a sale-leaseback transaction, selling its Pittsbu… https://t.co/cXiPjAJxqB
May 14, 2021cannainsidersInnovative Industrial Properties, Inc.(IIPR) Acquires Pennsylvania Property and Expands Real Estate Partnership wit… https://t.co/oESUY0Awtx
May 14, 2021live_parallelParallel announces the completion of a sale-leaseback transaction, selling its Pittsburgh, PA warehouse to and ente… https://t.co/2NgvpINR2r
May 14, 2021MMPconnect#cannabiscommunity #marijuana #cannabis Innovative Industrial Properties Reports First Quarter 2021 Results… https://t.co/1RBBqw0ujN


Recent News Headlines

  • San Diego medical marijuana landlord files for IPO - Innovative Industrial Properties, lead by former BioMed Realty Chief Executive Alan Gold, submitted its prospectus Monday to the U.S. Securities and Exchange Commission. [6]
  • Cannabis facilities REIT Innovative Industrial Properties files and sets terms for $175 million IPO - Innovative Industrial Properties, a newly organized REIT formed to acquire medical-use cannabis facilities, filed and announced terms for its IPO on Monday.[7]

References

  1. http://innovativeindustrialproperties.com/about
  2. https://www.lawinsider.com/contracts/1navXyRYXoG3EmWFHOizJD/innovative-industrial-properties-inc/1677576/2016-10-17
  3. http://www.bloomberg.com/quote/IIPR:US
  4. http://www.nasdaq.com/article/cannabis-facilities-reit-innovative-industrial-properties-files-and-sets-terms-for-175-million-ipo-cm694498#ixzz4O05Fupfo
  5. http://innovativeindustrialproperties.com/business
  6. http://www.sandiegouniontribune.com/business/sd-fi-marijuna-ipo-20161019-story.html
  7. http://www.nasdaq.com/article/cannabis-facilities-reit-innovative-industrial-properties-files-and-sets-terms-for-175-million-ipo-cm694498#ixzz4O0600jvc

Verification history