{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-064109","form_type":"8-K","ticker":"IIPR","cik":"0001677576","company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","filed_at":"2026-05-20T11:00:36+00:00","discovered_at":"2026-05-20T11:05:00.296903+00:00","generated_at":"2026-05-20T11:05:43.731703+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"IIP closes $44.9M secured term loans to refinance maturing unsecured notes","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-064109","json":"https://secwatch.observer/filing/0001104659-26-064109.json","markdown":"https://secwatch.observer/filing/0001104659-26-064109.md","text":"https://secwatch.observer/filing/0001104659-26-064109.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1677576/000110465926064109/0001104659-26-064109-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1677576/000110465926064109/tm2615105d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-20T11:05:43.731703+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":"b739c0593917b2baea668d7dbcc2586ae7311aed","claim":"INNOVATIVE INDUSTRIAL PROPERTIES INC incurred term loan of $21,960,000 with Amalgamated Bank at 6.67% per annum maturing June 5, 2031.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1677576/000110465926064109/0001104659-26-064109-index.htm","confidence":0.98,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$21,960,000"},{"label":"Counterparty","value":"Amalgamated Bank"},{"label":"Rate","value":"6.67% per annum"},{"label":"Maturity","value":"June 5, 2031"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}