---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-024029"
form_type: "8-K"
ticker: "IIPR"
cik: "0001677576"
company_name: "INNOVATIVE INDUSTRIAL PROPERTIES INC"
filed_at: "2025-03-14T23:59:59+00:00"
generated_at: "2026-05-24T18:35:22.121969+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PharmaCann defaults on $2.7M March rent; IIPR to pursue eviction for nine properties

## Summary
- PharmaCann defaulted on March rent for nine leases totaling $2.7M across NY, IL, PA, OH, CO.
- Two leases in MI and MA had rent fully abated since Feb 1, 2025; no further rent due.
- PharmaCann represented 17% of IIPR's total rental revenues for FY2024.
- Company will aggressively enforce rights, including potential eviction proceedings.

## SEC filing metadata
- accession: 0001104659-25-024029
- form_type: 8-K
- ticker: IIPR
- cik: 0001677576
- company_name: INNOVATIVE INDUSTRIAL PROPERTIES INC
- filed_at: 2025-03-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1677576/000110465925024029/0001104659-25-024029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1677576/000110465925024029/tm259285d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-024029
- JSON: https://secwatch.observer/filing/0001104659-25-024029.json
- Plain text: https://secwatch.observer/filing/0001104659-25-024029.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.