Other Events. As previously disclosed, Innovative Industrial Properties, Inc. (the “ Company ”) and its operating partnership, IIP Operating Partnership, LP, a Delaware limited partnership (the “ Operating Partnership ”), entered into separate equity distribution agreements (collectively, as amended, the “ Existing Equity Distribution Agreements ”) with each of BTIG, LLC, Jefferies LLC, Piper Sandler & Co., and Roth Capital Partners, LLC (or certain of their respective affiliates or agents),…

Results of Operations and Financial Condition. On August 3, 2026, Innovative Industrial Properties, Inc. (the “Company”) issued a press release regarding its financial results for the second quarter ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. On August 3, 2026, the Company posted on its website, www.innovativeindustrialproperties.com, certain supplemental financial information for the second quarter ended June 30…

Other Events. Innovative Industrial Properties, Inc. (the “Company”), through indirect, wholly owned subsidiaries serving as landlords, previously entered into leases (collectively, the “Leases”) with certain affiliates of SH Parent, Inc., as the respective tenants, and SH Parent, Inc., as guarantor (collectively, “Parallel”) for two properties in Florida that the Company owns, which represented approximately 5.2% of the Company’s annualized contractual rent and income from loans and securiti…

Entry into a Material Definitive Agreement. Indenture and Notes On June 15, 2026, IIP Operating Partnership, LP (the “Operating Partnership”), the operating partnership of Innovative Industrial Properties, Inc. (the “Company”), issued $402,500,000 aggregate principal amount of 6.00% exchangeable senior notes due 2029 (the “Notes”) to BTIG, LLC and certain other initial purchasers (collectively, the “Initial Purchasers”) pursuant to a Purchase Agreement, dated as of June 9, 2026 (the “Purchase…

Other Events. Concurrently with the offering of the Notes, the Company used approximately $80.5 million of the net proceeds from the offering to fund the repurchase of 1,334,466 shares of the Company’s common stock in privately negotiated transactions effected through the Initial Purchasers at a price per share of $60.34, the last reported sale price per share of the Company’s common stock on the New York Stock Exchange on June 9, 2026. This Current Report on Form 8-K is neither an offer to s…

Unregistered Sales of Equity Securities. The information set forth under

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under

Other Events. Purchase Agreement On June 9, 2026, the Company and IIP Operating Partnership, LP, the operating partnership subsidiary of the Company (the “Operating Partnership”), entered into a purchase agreement (the “Purchase Agreement”) with BTIG, LLC, as representative of the initial purchasers (collectively, the “Initial Purchasers”), pursuant to which the Operating Partnership agreed to sell, and the Initial Purchasers severally agreed to purchase, $402.5 million aggregate principal am…

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Entry into a Material Definitive Agreement. The disclosure under

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On May 22, 2026, Innovative Industrial Properties, Inc. (the “Company”) entered into an ATM Advance Agreement (the “Loan Agreement”) with A.G.P./Alliance Global Partners (“Lender”). The proceeds of the Loan Agreement are expected to be used for general corporate purposes, including the repayment of the Company’s 5.50% Senior Notes due May 2026. The Loan Agreement provides for a t…

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. 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”), consistin…

Entry into a Material Definitive Agreement. The disclosure under

Entry into a Material Definitive Agreement. The disclosure under

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On May 18, 2026, each of IIP-MA 7 LLC and IIP-PA 6 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”), consistin…

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On May 5, 2026, IIP-OH 2 LLC, IIP-NJ 1 LLC, IIP-FL 4 LLC, IIP-FL 2 LLC, IIP-NY 2 LLC, IIP-MI 7 LLC, IIP-VA 1 LLC and IIP-PA 5 LLC, each a Delaware limited liability company (individually, “Borrower” and collectively, the “Borrowers”) and an indirect subsidiary of Innovative Industrial Properties, Inc. (the “Company”), entered into a loan agreement (the “Loan Agreement”) with Thor…

Entry into a Material Definitive Agreement. The disclosure under

Results of Operations and Financial Condition. On May 4, 2026, Innovative Industrial Properties, Inc. (the “Company”) issued a press release regarding its financial results for the first quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. On May 4, 2026, the Company posted on its website, www.innovativeindustrialproperties.com, certain supplemental financial information for the first quarter ended March 31, 2026…

Entry into a Material Definitive Agreement. The disclosure under

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On April 24, 2026, IIP-IL 2 LLC (the “Borrower”), an indirect subsidiary of Innovative Industrial Properties, Inc. (the “Company”), issued a promissory note (the “Note”) in favor of Generations Bank (the “Lender”) evidencing a $20.0 million secured term loan (the “Loan”) maturing on April 22, 2029. The Note bears interest at a fixed rate of 9.00% per annum (subject to the maximum…

Director — Gary Kreitzer: Gary Kreitzer will retire from the Board and not stand for re-election at the Company’s 2026 annual meeting of shareholders.

Other Events. PharmaCann Settlement Agreement On February 26, 2026, the Company entered into a settlement agreement (the “PharmaCann Settlement Agreement”) with PharmaCann Inc. (“PharmaCann”) to resolve pending lawsuits brought by certain indirect, wholly owned subsidiaries of the Company against PharmaCann and certain of its affiliates in connection with rent defaults under leases (the “PharmaCann Leases”) for three properties owned by the Company located in New York, Ohio, and Pennsylvania.…

Other Events. On March 3, 2026, the Board of Directors of Innovative Industrial Properties, Inc. (the “Company”) approved a new share repurchase program authorizing the repurchase of up to $100 million of the Company's common stock (the “Share Repurchase Program”). The Share Repurchase Program replaces the Company's existing share repurchase program, which is scheduled to expire on March 17, 2026. Repurchases will be made through open market purchases, block trades and/or privately negotiated…

Results of Operations and Financial Condition. On February 23, 2026, Innovative Industrial Properties, Inc. (the “Company”) issued a press release regarding its financial results for the fourth quarter ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. On February 23, 2026, the Company posted on its website, www.innovativeindustrialproperties.com, certain supplemental financial information for the fourth quarter end…

Results of Operations and Financial Condition. On November 3, 2025, Innovative Industrial Properties, Inc. (the “Company”) issued a press release regarding its financial results for the third quarter ended September 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. On November 3, 2025, the Company posted on its website, www.innovativeindustrialproperties.com, certain supplemental financial information for the third quarter ended…