IIPR

Innovative Industrial Properties, Inc. is a specialized real estate investment trust (REIT) focused on the acquisition, ownership, and management of properties leased to licensed cannabis operators for medical-use cannabis facilities. The company provides sale-leaseback financing solutions to state-licensed cannabis cultivators and processors, allowing them to unlock capital from their real estate for business expansion while IIPR becomes the landlord. IIPR owns over 100 properties across more than 19 states, making it the first and largest publicly-traded cannabis-focused REIT. The company generates revenue through long-term triple-net leases, typically 15-20 years, with built-in rental escalations, providing stable and growing cash flows to support its dividend.