Innovative Industrial Properties Inc
|Innovative Industrial Properties Inc|
|Headquarters||San Diego, CA, United States|
|Key people||Paul Smithers (CEO), Robert Sistek (CFO), Alan Gold, Greg Fahey |
|Investors||IGP Advisers LLC|
|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.  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. 
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.  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.
Top 5 Recent Tweets
|October 24, 2020||Ganjly420||#cannabis #marijuana #weed Please retweet... SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NY… https://t.co/lyCdJ6EscF|
|October 23, 2020||MMPconnection||#cannabis #weed #marijuana IIPR Stock: No Sell-Off with This Cannabis Play, up 225% Since March Innovative Indust… https://t.co/etnFoyDevu|
|October 22, 2020||MMPconnect||#cannabis #marijuana #weed IIPR Stock: No Sell-Off with This Cannabis Play, up 225% Since March Innovative Indust… https://t.co/u3q2fdF8WL|
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. 
- 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.