IIP closes $44.9M secured term loans to refinance maturing unsecured notes

INNOVATIVE INDUSTRIAL PROPERTIES INC

Closed four secured term loans totaling $44.9M at 6.67% fixed interest.
Loans mature June 5, 2031; proceeds repay unsecured notes maturing end of May 2026.
Collateralized by certain properties; parent Innovative Industrial Properties guarantees.
Executive Chairman Alan Gold said financing extends debt maturity profile at attractive rate.

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