secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)
CIK:        0001677576
Form:       8-K
Filed at:   2026-10-01T11:00:27+00:00
Accession:  0001104659-26-112568
Event type: debt
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677576/000110465926112568/0001104659-26-112568-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677576/000110465926112568/tm2626535d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-112568

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer