{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-029472","form_type":"8-K","ticker":"IIPR","cik":"0001677576","company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","filed_at":"2025-03-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:04.409846+00:00","generated_at":"2026-05-24T03:08:42.777227+00:00","sec_items":["8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.78,"calibrated_materiality_score":0.78,"confidence":"high","headline":"IIPR declares lease defaults on ~10.8% of rent and a $16.1M loan default","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-029472","json":"https://secwatch.observer/filing/0001104659-25-029472.json","markdown":"https://secwatch.observer/filing/0001104659-25-029472.md","text":"https://secwatch.observer/filing/0001104659-25-029472.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1677576/000110465925029472/0001104659-25-029472-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1677576/000110465925029472/tm2510842d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T03:08:42.777227+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}