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Innovative Industrial Properties (IIPR)

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Last Post: 5/20/2019 10:37:43 PM - Followers: 37 - Board type: Free - Posts Today: 0





IIP: Home | Innovative Industrial Properties

http://innovativeindustrialproperties.com/


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.

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IIPR News: Innovative Industrial Properties Acquires Pennsylvania Property and Enters Into Long-Term Lease with Green Leaf Medical 05/20/2019 04:30:00 PM
IIPR News: Quarterly Report (10-q) 05/09/2019 04:35:04 PM
IIPR News: Current Report Filing (8-k) 05/09/2019 07:01:34 AM
IIPR News: Innovative Industrial Properties Reports First Quarter 2019 Results 05/08/2019 04:30:00 PM
IIPR News: Innovative Industrial Properties Acquires Pennsylvania Property and Enters Into Long-Term Lease with Maitri Genetics 04/24/2019 04:30:00 PM
News News Alert: Innovative Industrial Properties Acquires Pennsylvania Property and Enters Into Long-Term Lease with Green Leaf Medical 05/20/2019 04:30:00 PM
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#205   Innovative Industrial Properties Acquires 21st Medical Cannabis Property wsstocks 05/20/19 10:37:43 PM
#204   I've found that in this recently emerging pot pappi 05/18/19 03:05:32 AM
#203   I've found that in this recently emerging pot pappi 05/18/19 03:05:23 AM
#202   I've found that in this recently emerging pot pappi 05/18/19 03:05:10 AM
#201   Damn she’s strong. I got out at 45 dawood 05/17/19 01:49:50 PM
#200   You Only Load Once: What’s in the New RTupp23 05/03/19 04:48:46 PM
#198   these contracts are for extended periods of time IlikeMoneythough 04/17/19 01:10:49 PM
#197   Agreed, though..if/when the fed legalize MJ/cannabis (US banking wiredawg 04/17/19 12:45:31 PM
#196   gotcha. thanks. good luck. really think this one's IlikeMoneythough 04/17/19 09:30:09 AM
#195   The ex-divy date was 28 Mar, it was wiredawg 04/16/19 09:40:41 PM
#194   wasn't that, like 3 weeks ago? IlikeMoneythough 04/16/19 11:28:35 AM
#193   Thanks for another dividend! $iipr SBZRUS 04/16/19 03:07:51 AM
#192   Nice, I plan on selling half or a wiredawg 04/10/19 12:53:40 PM
#191   take your profits. still in it here. if IlikeMoneythough 04/10/19 11:30:26 AM
#190   Sold half my position a few days ago lasloprask 04/09/19 11:50:18 PM
#189   News: $IIPR Microgrid Marijuana Mover to Put on whytestocks 04/05/19 11:20:38 AM
#188   alright then. lets make some money! im looking IlikeMoneythough 03/22/19 01:26:47 PM
#187   LOL, no need to pump...the IIPR Stock price wiredawg 03/21/19 04:27:11 PM
#185   IKR, could touch $100 before its next reasonable wiredawg 03/21/19 12:43:55 PM
#184   Ladenburg Downgrades Innovative Industrial Properties to a Hold MJobserver 03/20/19 06:10:14 PM
#183   man, this is a traders dream! so many IlikeMoneythough 03/20/19 02:01:22 PM
#182   Your are right, but shorting IIPR will be wiredawg 03/19/19 08:40:06 PM
#180   I bought at 20 n sold at 40. dawood 03/19/19 11:52:09 AM
#179   Why you think that? captbly 03/19/19 12:30:10 AM
#177   $IIPR Perfect Short here! Overbought SlaptheSwing 03/18/19 01:41:18 PM
#176   $IIPR garbage timmmmmmmmmmber SlaptheSwing 03/18/19 01:40:36 PM
#175   couldn't help it any longer- got in at IlikeMoneythough 03/18/19 12:52:57 PM
#174   Gotta love this one. :) sootman 03/16/19 02:00:26 PM
#172   Term results out, with the formal report listed pappi 03/14/19 08:49:48 AM
#171   Good sign Dividends keep going up! SBZRUS 03/12/19 12:16:19 PM
#170   I think anyone with any common sense knows Rod Tidwell 03/07/19 03:05:19 PM
#169   This is MOMO pump n dump ticker..back to 60 JamCracker 03/07/19 12:14:44 PM
#168   Waiting for a good entry point...if this hits Rod Tidwell 03/07/19 11:03:13 AM
#167   Projections??? its expensive...pretty much a momentum play at wiredawg 03/05/19 08:53:36 PM
#166   I’m trying to do some serious DD here Rod Tidwell 03/04/19 10:26:43 PM
#165   Sweet!! sootman 02/19/19 08:26:15 AM
#164   $iipr added to the S&P SmallCap 600 ! SBZRUS 02/19/19 02:32:29 AM
#163   Nice day....just keeps on giving. :) sootman 02/11/19 09:44:25 AM
#161   I started in by picking up a fixed pappi 02/02/19 06:08:43 AM
#160   still have IIPR tucked away. :) sootman 01/22/19 11:15:13 PM
#159   Thanks for the dividend! $iipr SBZRUS 01/17/19 01:05:24 PM
#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
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