IIPR - Mergers and acquisitions

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a 16 acre property comprising 145,000 square feet of industrial space in Ocala, Florida, and entered into a long-term, triple-net lease with a subsidiary of AYR Wellness Inc. (CSE:AYR, OTCQX:AYRWF) (AYR). The purchase price for the property was $13.0 million ($90 per square foot). AYR is expected to redevelop one building on the property comprising 98,000 square feet of industrial space for expected use as a regulated cannabis cultivation facility upon completion

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property comprising approximately 104,000 square feet of industrial space in Webster, Massachusetts. The purchase price for the property was $21.5 million (approximately $207 per square foot), which is fully built out and operational as a regulated cannabis cultivation and processing facility. Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease agreement for the property with a subsidiary of Curaleaf Holdings, Inc. (CSE:CU

IIP Expands Portfolio to 111 Properties Comprising 8.4 Million Square Feet in 19 States Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced that it closed on the acquisition of a property in Texas, and entered into a long-term lease with a subsidiary of Texas Original Holdings, LLC (Texas Original). The purchase price for the property was approximately $12.0 million (excluding transaction costs), which was derived from costs Texas Original incurred to acquire the 25 acres of land and develop the property through the date of closing. At the time of closing,

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property comprising approximately 104,000 square feet of industrial space in Taunton, Massachusetts. The purchase price for the property was $40.0 million (approximately $384 per square foot), which is fully built out and operational as a regulated cannabis cultivation, processing and dispensing facility. Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease agreement for the property with a subsidiary of TILT Holdings Inc.

IIP Expands Portfolio to 108 Properties Comprising 8.1 Million Square Feet in 19 States Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced that it closed on the acquisition of a Maryland property comprising approximately 84,000 square feet of industrial and greenhouse space. The purchase price for the property was $25.0 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease agreement for the property with a subsidiary of Maryland Cultivation and Processing, LLC (MCP), which intend

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in New Jersey, and entered into a long-term lease with a subsidiary of Ascend Wellness Holdings, Inc. (AWH) at the property. The purchase price for the property was $35.4 million (excluding transaction costs). AWH is expected to complete additional improvements for the approximately 114,000 square foot property as a regulated cannabis cultivation and processing facility, for which IIP has agreed to provide reimbursement of up to $4.6 million. Assuming f

IIP's Portfolio Now Spans 103 Properties Consisting of 7.7 Million Rentable Square Feet Across 19 States Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a portfolio of 27 properties in Colorado, Pennsylvania and North Dakota that are 100% leased for use as regulated cannabis dispensing, processing and/or cultivation facilities. The aggregate purchase price for the portfolio was approximately $72.7 million (excluding transaction costs). The property portfolio consists of 24 properties located in Colorado, two p

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a 201,000 square foot industrial property in Desert Hot Springs, California, and entered into a long-term lease with Gold Flora, LLC (Gold Flora). The purchase price for the property was $51.0 million (excluding transaction costs). Gold Flora is expected to complete additional tenant improvements for the property as a regulated cannabis cultivation and processing facility, for which IIP has agreed to provide reimbursement of up to $9.0 million. Assuming full reimb

IIP Expands Portfolio to 75 Properties Comprising 7.0 Million Square Feet in 19 States Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced that it closed on the acquisition of a property in Missouri, and entered into a long-term lease with CPC of Missouri – Smithville, LLC (CPC), a subsidiary of Calyx Peak, Inc. (Calyx). The purchase price for the property was $1.53 million (excluding transaction costs). CPC is expected to construct approximately 83,000 square feet of industrial space at the property, for which IIP has agreed to provide reimbursement of up

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Hancock, Maryland, and entered into a long-term lease with a subsidiary of Harvest Health & Recreation Inc. (Harvest) (CSE:HARV, OTCQX:HRVSF). The purchase price for the property was approximately $16.6 million (excluding transaction costs). Harvest is expected to complete additional tenant improvements for the property as a regulated cannabis cultivation and processing facility, for which IIP has agreed to provide reimbursement of up to $12.9 millio

IIP Expands Portfolio to 73 Properties Comprising 6.8 Million Square Feet in 18 States Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced that it closed on the acquisition of a property in Illinois, and entered into a long-term lease with a subsidiary of 4Front Ventures Corp. (CSE:FFNT) (OTCQX:FFNTF) (4Front). The purchase price for the property was $6.5 million (excluding transaction costs). 4Front is expected to construct approximately 250,000 square feet of industrial space at the property, for which IIP has agreed to provide reimbursement of up to $43

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in North Adams, Massachusetts, comprising approximately 70,000 square feet of industrial space. The purchase price for the property was $3.1 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease at the property with Temescal Wellness of Massachusetts, LLC (Temescal) for use as a regulated cannabis cultivation and processing facility upon completion of redevelopment. Temescal is

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Warren, Michigan, comprising approximately 85,000 square feet of industrial space. The purchase price for the property was approximately $10.3 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease at the property with a subsidiary of Sozo Companies, Inc. (Sozo) for continued use as a regulated cannabis cultivation, processing and retail facility. Sozo is expected to complete

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE:IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property located at 9410 Davis Highway in Windsor, Michigan. The purchase price for the property was approximately $15.6 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease agreement with Green Peak Industries LLC (also known as Skymint Brands or Skymint), which intends to operate the property as a regulated cannabis cultivation, processing and distribution facility, upon completion o

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR), the first and only real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis industry, announced today that it completed the acquisition of a property in San Marcos, Texas, and entered into a long-term lease with Surterra San Marcos LLC (Surterra San Marcos), a subsidiary of Surterra Texas, which is a subsidiary of Parallel, one of the largest privately-held multi-state cannabis operators in the United States. The purchase price for the property was approximately $3.4 million (excluding transaction costs). Surterra San Marcos is expected to construct three buildi

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Alachua, Florida, which comprises approximately 295,000 square feet of industrial space. The purchase price for the property was $23.8 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease at the property with a subsidiary of Harvest Health & Recreation Inc. (Harvest) (CSE: HARV, OTCQX: HRVSF), which intends to continue to operate the p

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisitions of a property in Georgetown, Massachusetts and a property in Olympia, Washington, which collectively comprise approximately 181,000 square feet of industrial space. The purchase prices for the properties were $33.0 million in total (excluding transaction costs). Concurrent with the closings of the purchases, IIP entered into a long-term, triple-net lease agreement for each property with a subsidiary of 4Front Ventures Corp. (CS