IIPR declares lease defaults on ~10.8% of rent and a $16.1M loan default

INNOVATIVE INDUSTRIAL PROPERTIES INC

4Front leases (4 properties, 5.7% of rent) defaulted; $9.0M owed as of March 28, 2025.
Gold Flora leases (3 properties, 2.9% of rent) defaulted; $1.7M owed.
TILT leases (2 properties, 2.2% of rent) defaulted; $2.4M owed.
$16.1M secured note defaulted; borrower owes ~$0.8M in interest/taxes; principal plus interest due immediately.
Company will pursue eviction for tenants and may foreclose on the four California properties securing the note.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.