INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

INNOVATIVE INDUSTRIAL PROPERTIES INC incurred term loan of $21,960,000 with Amalgamated Bank at 6.67% per annum maturing June 5, 2031.

Instrument: term loan
Principal: $21,960,000
Counterparty: Amalgamated Bank
Rate: 6.67% per annum
Maturity: June 5, 2031
Event: incurrence

Exact text from the filing

On May 19, 2026, each of IIP-MD 1 LLC and IIP-NJ 3 LLC, each a Delaware limited liability company (each, a "Borrower" and collectively, the "Borrowers") and an indirect subsidiary of Innovative Industrial Properties, Inc. (the "Company"), entered into separate loan agreements with Amalgamated Bank, a bank organized under the laws of the State of New York (the "Lender"), consisting of (i) that certain loan agreement between IIP-MD 1 LLC and the Lender (the "MD Loan Agreement") and (ii) that certain loan agreement between IIP-NJ 3 LLC and the Lender (the "NJ Loan Agreement" and, together with the the MD Loan Agreement, the "Loan Agreements"), providing for an aggregate of $21,960,000 in secured term loans.

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4 debt financings filed in the last 30 days. Browse all debt financings →

INNOVATIVE INDUSTRIAL PROPERTIES INC filing history →

Source: SEC EDGAR

accession 0001104659-26-064109

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