{"id":1459,"date":"2026-05-06T15:30:00","date_gmt":"2026-05-06T13:30:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=847a3e3f3e0b7722b039a34eed4759f4"},"modified":"2026-05-06T15:30:00","modified_gmt":"2026-05-06T13:30:00","slug":"innovative-industrial-properties-announces-closing-of-56-5-million-secured-term-loan","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=1459","title":{"rendered":"Innovative Industrial Properties Announces Closing of $56.5 Million Secured Term Loan"},"content":{"rendered":"<p>SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it has closed on a $56.5 million secured term loan (the \u201cLoan\u201d). The Loan has an initial term of three years, bears interest at the one-month Secured Overnight Financing Rate (SOFR) plus a spread of 500 basis points, is interest only and is secured by certain properties of the Company. The proceeds from the Loan are expected to be used to pay off the Company\u2019s unsecured notes that are maturing at the end of this month.<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260506270127\/en\/1114393\/5\/IIP_logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260506270127\/en\/1114393\/22\/IIP_logo.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260506270127\/en\/1114393\/5\/IIP_logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260506270127\/en\/1114393\/21\/IIP_logo.jpg\" \/><\/a><p>\n\u201cThe successful closing of this loan reflects the continued confidence in our platform and portfolio. We are appreciative of our new lending relationship that provided this capital to the Company,\u201d said Alan Gold, Executive Chairman of IIP. \u201cThis financing further strengthens our balance sheet and positions us to execute on strategic growth opportunities for 2026 and beyond.\u201d<\/p><p>\n<b>About Innovative Industrial Properties<\/b><\/p><p>\nInnovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties and life science real estate. Additional information is available at <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.innovativeindustrialproperties.com&amp;esheet=54529895&amp;newsitemid=20260506270127&amp;lan=en-US&amp;anchor=www.innovativeindustrialproperties.com&amp;index=1&amp;md5=665fddc1fd33913716aebe46b82b9ada\" rel=\"nofollow\" shape=\"rect\">www.innovativeindustrialproperties.com<\/a>.<\/p><br\/> <b>Contacts<\/b> <br\/><p>\nCompany Contact:\n<br\/>David Smith\n<br\/>Chief Financial Officer\n<br\/>Innovative Industrial Properties, Inc.\n<br\/>(858) 997-3332<\/p>","protected":false},"excerpt":{"rendered":"<p>SAN DIEGO&#8211;(BUSINESS WIRE)&#8211;Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it has closed on a $56.5 million secured term loan (the \u201cLoan\u201d). The Loan has an initial term of three years, bears interest at the one-month Secured &#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1459","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/1459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1459"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/1459\/revisions"}],"predecessor-version":[{"id":1460,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/1459\/revisions\/1460"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}