Innovative Industrial Properties Acquires Illinois Property and Expands Real Estate Partnership with Green Thumb Industries (GTI)
Innovative Industrial Properties, Inc. (IIPR)
US:NYSE Investor Relations:
investors.innovativeindustrialproperties.com
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Source: Business Wire
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on a sale-leaseback transaction with Green Thumb Industries Inc. (GTI) (CSE: GTII; OTCQX: GTBIF) for its licensed cannabis cultivation and processing facility in Oglesby, Illinois.The purchase price for the property was $9.0 million (excluding transaction costs). GTI is also expected to make certain improvements to the property, for which IIP has agreed to provide reimbursement of up to $41.0 million. Assuming full reimbursement for such improvements, IIP’s total investment in the property will be $50.0 million.This sale-leaseback transaction marks IIP’s third acquisition and lease with GTI, with prior sale-leaseback transactions for GTI’s licensed medical cannabis cultivation and processing facility in Pennsylvania completed in November 2019 and G
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News
- Innovative Industrial Properties, Inc. (NYSE: IIPR) was downgraded by analysts at Piper Sandler from a "neutral" rating to an "underweight" rating. They now have a $70.00 price target on the stock, down previously from $118.00.MarketBeat
- The Schall Law Firm Invites Shareholder Contributions To An Inquiry Into Innovative Industrial Properties, Inc. For Securities Law ViolationsAccesswire
- Innovative Industrial Properties, Inc. Is Being Investigated For Securities Fraud And Investors With Losses Are Urged To Contact Kehoe Law Firm, P.C. - IIPR Accesswire
- Innovative Industrial Properties, Inc. (NYSE: IIPR) was downgraded by analysts at Compass Point from a "buy" rating to a "neutral" rating. They now have a $78.00 price target on the stock, down previously from $125.00.MarketBeat
- Innovative Industrial Properties Reports Default by PharmaCann on All Leases [Yahoo! Finance]Yahoo! Finance
IIPR
Earnings
- 11/6/24 - Miss
IIPR
Sec Filings
- 12/20/24 - Form 8-K
- 11/7/24 - Form 8-K
- 11/7/24 - Form 10-Q
- IIPR's page on the SEC website