{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-051589","form_type":"8-K","ticker":"IIPR","cik":"0001677576","company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","filed_at":"2026-04-29T23:59:59+00:00","discovered_at":"2026-05-14T18:02:32.719639+00:00","generated_at":"2026-05-15T02:15:31.689696+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"IIP subsidiary obtains $20M secured term loan at 9.00% from Generations Bank","bullets":["Borrower IIP-IL 2 LLC, indirect subsidiary of IIP, issued $20M promissory note to Generations Bank.","Note bears 9.00% fixed interest, matures April 22, 2029; interest-only first 12 months, then 20-yr amortization with balloon.","Loan secured by mortgages on properties in Kankakee and Will Counties, Illinois, and other collateral.","Parent Innovative Industrial Properties guarantees borrower's obligations under the loan.","Origination fee of 1.50% of principal; prepayment penalties apply for first 30 months."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-051589","json":"https://secwatch.observer/filing/0001104659-26-051589.json","markdown":"https://secwatch.observer/filing/0001104659-26-051589.md","text":"https://secwatch.observer/filing/0001104659-26-051589.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1677576/000110465926051589/0001104659-26-051589-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1677576/000110465926051589/tm2613117d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T02:15:31.689696+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":[{"claim_id":"93684bd047c0e27de2950a8e6f153f38a9eabc9b","claim":"INNOVATIVE INDUSTRIAL PROPERTIES INC incurred term loan of $20.0 million with Generations Bank at 9.00% per annum maturing April 22, 2029.","evidence_excerpt":"issued a promissory note (the \"Note\") in favor of Generations Bank (the \"Lender\") evidencing a $20.0 million secured term loan (the \"Loan\") maturing on April 22, 2029. The Note bears interest at a fixed rate of 9.00% per annum","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1677576/000110465926051589/0001104659-26-051589-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$20.0 million"},{"label":"Counterparty","value":"Generations Bank"},{"label":"Rate","value":"9.00% per annum"},{"label":"Maturity","value":"April 22, 2029"},{"label":"Event","value":"incurrence"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}