Innovative Industrial Properties is a holding company. Through its subsidiaries, Co. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of industrial properties leased to state-licensed operators for their regulated state-licensed cannabis facilities. Co. leases its properties on a triple-net lease basis, where the tenant is responsible for all aspects of and costs related to the property and its operation during the lease term, including structural repairs, maintenance, taxes and insurance. Co. conducts its business through an umbrella partnership REIT, in which its properties are owned by its operating partnership, IIP Operating Partnership, LP.

Preferred: IIPR.PRA