[PRESS RELEASE] – SAN DIEGO, May 20, 2026 – Innovative Industrial Properties Inc. (IIP) announced it has closed on four secured term loans totaling $44.9 million in gross proceeds.
The loans have an initial term of five years, bear interest at a fixed rate of 6.67% and are secured by certain properties of the company. The proceeds from the loans are expected to be used to pay off the company’s unsecured notes that are maturing at the end of this month.
“This financing reflects our continued commitment to maintaining a strong and flexible balance sheet,” IIP Executive Chairman Alan Gold said. “By extending our debt maturity profile and securing attractively priced capital through a new lending relationship, we believe we are well-positioned to support our long-term growth strategy and create value for our shareholders.”
