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Innovative Industrial Properties ( (IIPR) ) has provided an update.
On January 30, 2025, Innovative Industrial Properties, Inc. (IIP) announced a resolution with PharmaCann Inc. regarding defaults under leases for eleven properties owned by IIP. The agreement includes utilizing security deposits for defaulted rent, lease amendments for properties in various states, and a promissory note issued by PharmaCann. The amendments became effective on January 28, 2025, impacting IIP’s operations by maintaining lease agreements and restructuring terms to support PharmaCann’s financial stability and IIP’s investment security.
More about Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on acquiring, owning, and managing specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. The company has been a real estate investment trust since 2017 and is the first and only real estate company on the New York Stock Exchange focusing on the regulated U.S. cannabis industry.
YTD Price Performance: -2.15%
Average Trading Volume: 360,092
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.93B
Find detailed analytics on IIPR stock on TipRanks’ Stock Analysis page.
