---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-112568"
form_type: "8-K"
ticker: "IIPR"
cik: "0001677576"
company_name: "INNOVATIVE INDUSTRIAL PROPERTIES INC"
filed_at: "2026-10-01T11:00:27+00:00"
generated_at: "2026-10-12T14:14:10.867651+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# IIP expands Alewife Park mezzanine loan to $400M, funds $111M at closing at ~15.8% yield

## Summary
- IIP Life Science II increased the Alewife Park mezzanine loan by $267.0M to $400.0M total, with IIP providing up to $245.0M under new Note B.
- IIP funded ~$111.0M at closing, repaying the borrower's $85.0M bridge loan; remaining $134M expected to be funded through Q4 2027.
- Loan yields ~15.8% with a 14% floor, matures February 2028 with a one-year extension option; IIP may buy other lender's notes up to $155M.
- Alewife Park is a 27-acre Cambridge, MA life science campus with 392,000 sq ft in Phase I, 78% leased to Lila Sciences.

## SEC filing metadata
- accession: 0001104659-26-112568
- form_type: 8-K
- ticker: IIPR
- cik: 0001677576
- company_name: INNOVATIVE INDUSTRIAL PROPERTIES INC
- filed_at: 2026-10-01T11:00:27+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1677576/000110465926112568/0001104659-26-112568-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1677576/000110465926112568/tm2626535d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-112568
- JSON: https://secwatch.observer/filing/0001104659-26-112568.json
- Plain text: https://secwatch.observer/filing/0001104659-26-112568.txt

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