Innovative Industrial Properties reports Q3 FFO $1.71, consensus $1.71

Reports Q3 revenue $64.7M, consensus $63.9M. “We are pleased to have made our first investment outside of the cannabis industry during the third quarter with our $270 million financial investment into IQHQ, marking IIP’s return to growth and providing meaningful diversification and accretion for IIP’s shareholders,” said Alan Gold, Executive Chairman of IIP. “In addition, the successful closing of our new $100 million credit facility reinforces our belief that our investment in the life science sector enhances both our access to, and cost of, capital. With a strong, low-leveraged balance sheet, this credit facility strengthens our financial flexibility and positions us to capitalize on the long-term growth of the life science industry.”