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Innovative Industrial Properties (IIPR)

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Last Post: 1/7/2019 1:36:15 PM - Followers: 31 - Board type: Free - Posts Today: 0

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Innovative Industrial Properties™

Removing Financial Barriers For Licensed Medical-Use Cannabis Growers™

We target medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term triple-net leases. We believe this industry is poised for significant growth in coming years, and we are focused on

being a creative capital provider to this industry through the long-term ownership of cultivators’ mission-critical facilities.


A veteran of the Health Care Real Estate Investor Trust (REIT), Alan Gold, has created what will soon be the first publicly-traded cannabis REIT, Innovative Industrial Properties. The company, based in San Diego but incorporated in Maryland, filed an S-11 to go public on the NYSE. It plans to sell 8.75mm shares at $20 per share with a symbol of IIPR. Ladenburg Thalman is the lead underwriter.

Gold was a co-founder of Alexandria Realty (NYSE: ARE) and Biomed Realty Trust (formerly NYSE: BMR), which was acquired by Blackstone in a $7 billion transaction that closed in January. He will serve as Executive Chairman and will own over 10% of the company. CEO Paul Smithers will hold 232,500 shares. Gold has brought on board several other executives from BioMed Realty Trust, including CFO Robert Sistek, General Counsel Brian Wolfe and Director Gary Kreitzer, who was a co-founder of Biomed Realty Trust. The total number of shares, excluding potential exercise of a 1.3125mm share underwriters option, will be just over 10mm shares, valuing the company at over $200mm at the proposed IPO price.

The company’s first tenant will be PharmaCann, one of the five licensed cannabis companies in New York, which will sell and lease back its  127K s.f. facility in New York for $30mm.  The company expects its acquisitions will be between $5mm and $30mm and has identified over $88mm in potential additional acquisitions thus far.

While there have been some public companies with business models aimed at helping cannabis companies buy buying real estate and leasing it back, this is the first public offering of a REIT focused on the cannabis industry. The company expects to focus on New York, Illinois, Maryland, California, Arizona, Washington, Nevada, Massachusetts and Oregon. The Innovative Industrial Properties IPO, if successful, will allow mainstream investors to participate in the cannabis industry indirectly and will provide much needed capital to the industry.

Current Price
Bid Ask Day's Range
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IIPR News: Innovative Industrial Properties Acquires Illinois Property and Enters Into Long-Term Lease with Ascend Wellness 12/21/2018 04:30:00 PM
IIPR News: Innovative Industrial Properties Declares Fourth Quarter 2018 Dividends 12/14/2018 07:00:00 AM
IIPR News: Quarterly Report (10-q) 11/08/2018 04:07:10 PM
IIPR News: Current Report Filing (8-k) 11/08/2018 07:01:55 AM
IIPR News: Innovative Industrial Properties Reports Third Quarter 2018 Results 11/07/2018 05:48:00 PM
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#158   Nice move today :) sootman 01/07/19 01:36:14 PM
#157   Out, small gain. Good luck everyone, if Tower of Hanoi 12/06/18 08:56:33 AM
#156   still holding and added some this morning. sootman 11/27/18 04:47:19 PM
#155   Bought a starting position today in the AM- Tower of Hanoi 11/27/18 04:26:32 PM
#154   I think it was simply over-brought, it pulled wiredawg 11/27/18 02:54:30 PM
#153   Any reason for the tremendous decline? Business as Tower of Hanoi 11/27/18 08:43:46 AM
#152   Yep. Picking up 25 shares a month, same pappi 11/17/18 08:12:04 AM
#151   slow and steady :) sootman 11/16/18 10:22:12 AM
#150   :) sootman 11/07/18 10:31:42 PM
#149   Great News! $IIPR "generated total revenues of SBZRUS 11/07/18 10:05:19 PM
#148   :) sootman 10/23/18 08:34:59 PM
#147   News! pappi 10/23/18 02:51:46 AM
#145   Yet another stock I've added to the home pappi 10/17/18 03:48:24 PM
#144   IIPR ...rock and roll :) sootman 08/31/18 02:55:31 PM
#143   I'm a happy camper right now. :) sootman 08/29/18 08:14:36 AM
#142   A few risk tolerant souls must be happy. Wildbilly 08/29/18 07:20:25 AM
#141   Been loading this one for awhile. Cranking out sootman 08/28/18 11:22:46 PM
#140   Looking good SBZRUS 08/13/18 12:34:36 AM
#139   Innovative Industrial Properties Reports First Quarter 2018 Results jcamp212 05/10/18 02:12:13 PM
#138   Innovative Industrial Properties Completes Arizona Acquisition jcamp212 12/18/17 03:59:11 PM
#137   Innovative Industrial Properties Declares $0.25 Q4 2017 Dividend jcamp212 12/15/17 03:30:14 PM
#136   Innovative Industrial Properties to Acquire Arizona Property jcamp212 11/28/17 04:01:41 PM
#135   IIPR buy 19.635 stocktrademan 11/17/17 11:28:39 AM
#133   "Authored by Michael Berger bar1080 08/14/17 04:32:06 AM
#132   ??????$IIPR Reports Q2 Earnings?????? https://technical420.com/cannabis-article/ SBPartners 08/10/17 06:52:34 AM
#131   interesting is dropping in this just like the FutureBankruptcy 02/28/17 02:01:43 PM
#130   Interesting. Surprising and not at the same time. FutureBankruptcy 02/19/17 02:05:12 PM
#129   Looks terrible for IIPR: A glut of MJ bar1080 02/18/17 08:41:08 AM
#128   The one cannabis property this outfit owns in Monksdream 02/18/17 08:16:35 AM
#127   Fake news perhaps! The big acquisition was probably bar1080 02/16/17 05:33:54 PM
#126   You're missing the authors glaring error which could FutureBankruptcy 02/15/17 08:11:51 PM
#125   Am I missing something here? boogie42 02/15/17 07:40:42 PM
#124   "[IIPR] acquired PharmaCann’s New York facility for $30 bar1080 02/12/17 01:37:00 PM
#123   From IHUB's DD board: bar1080 02/12/17 01:23:26 PM
#122   IIPR institutional ownership as of 12/31/16. bar1080 02/11/17 10:39:10 AM
#121   Will Illinois accept an IOU from a Cayman bar1080 02/10/17 09:38:22 AM
#120   Gold owns just 300 shares! Can that be right? bar1080 02/10/17 09:27:27 AM
#119   Good read..cheers & GLTY $IIPR r1aviator 02/09/17 10:47:08 PM
#118   Just my personal target, but then there's this... SBZRUS 02/09/17 07:36:33 PM
#117   Curious to know how you arrived at $24 r1aviator 02/09/17 07:15:24 PM
#116   Making a fair value assessment of a public Monksdream 02/09/17 06:28:55 PM
#115   The costs to sell even one gram of Monksdream 02/09/17 06:23:39 PM
#114   You guys are clearly underestimating the demand for SBZRUS 02/09/17 01:54:55 PM
#113   Don't know what the h... the NYSE thought. bar1080 02/08/17 09:09:21 AM
#112   allow me to play devils advocate - what FutureBankruptcy 02/08/17 08:18:22 AM
#111   IIPR trading volume is low and plummeting. The bar1080 02/08/17 12:39:15 AM
#110   It will go bust. The business model is Monksdream 02/07/17 10:53:51 PM
#109   Gold's previous REIT, BMR, wasn't much of a bar1080 02/01/17 10:42:24 PM
#107   $IIPR DD w/Links & Article excerpt FutureBankruptcy 02/01/17 06:32:31 PM
#106   SA article. Read the comments at the end bar1080 02/01/17 05:14:55 PM