Innovative Industrial Properties reports Q1 AFFO $1.88, consensus $1.87

Reports Q1 revenue $69M, consensus $66.24M. “We are encouraged by the pace of leasing activity year-to-date, including nearly 400,000 square feet of executed leases, which underscores the ongoing demand for our properties,” said Alan Gold, Executive Chairman of IIP. “At the same time, we have taken deliberate steps to fortify our balance sheet through equity and debt capital raising activity, and have additional secured and unsecured debt financings underway totaling nearly $130 million, to be used to address our upcoming bond maturity and position us for growth.”