IIPR regains possession of four California properties from Kings Garden; 2.5% of total assets

INNOVATIVE INDUSTRIAL PROPERTIES INC

Regained possession of four California properties on Sept 21 & 26, 2023, via acceptance of offer of judgment.
Properties represent approximately 2.5% of total assets as reported in Q2 2023 Form 10-Q.
Kings Garden paid stipulated rent through Sept 20, 2023, including ~$1.7M in Q3 2023.
Company is in active discussions with other parties regarding potential re-leasing of the properties.

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