---
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"
generated_at: "2026-05-20T11:05:43.731703+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-064109
- JSON: https://secwatch.observer/filing/0001104659-26-064109.json
- Plain text: https://secwatch.observer/filing/0001104659-26-064109.txt

## Key facts
- Debt Financings
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1677576/000110465926064109/0001104659-26-064109-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.