Company: IIPR
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001104659-25-017454
Chunk: 21

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-02-26
Form: 424B5
Chunk 21
---
 the documents incorporated by reference herein and therein, together with other statements and information
publicly disseminated by us, contain certain “forward-looking statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 (set forth in Section 27A of the Securities Act, and Section 21E of the Exchange Act, that are subject to
risks and uncertainties). In particular, statements pertaining to our capital resources, portfolio performance and results of operations
contain forward-looking statements. Likewise, our statements regarding anticipated growth in our funds from operations and anticipated
market and regulatory conditions, our strategic direction, demographics, results of operations, plans and objectives are forward-looking
statements. Forward-looking statements involve numerous risks and uncertainties, and you should not rely on them as predictions of future
events. Forward-looking statements depend on assumptions, data or methods which may be incorrect or imprecise, and we may not be able
to realize them. We do not guarantee that the transactions and events described will happen as described (or that they will happen at
all). You can identify forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,”
“may,” “will,” “should,” “seeks,” “approximately,” “intends,”
“plans,” “estimates” or “anticipates” or the negative of these words and phrases or similar words
or phrases. You can also identify forward-looking statements by discussions of strategy, plans or intentions. The following factors, among
others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking
statements:

| · | use of proceeds from any sales of the offered shares hereunder; |

| · | rates of default on leases for our assets; |

| · | our ability to re-lease properties upon tenant defaults or lease terminations for the rent we currently receive, or at all; |

| · | concentration of our portfolio of assets and limited number of tenants; |

| · | the estimated growth in and evolving market dynamics of the regulated cannabis market; |

| · | the demand for regulated cannabis facilities; |

| · | inflation dynamics; |

| · | the impact of pandemics on us, our business, our tenants, or the economy generally; |

| · | war and other hostilities, including the conflicts in Ukraine and Israel; |

| · | our business and investment strategy; |

| · | our projected operating results; |

| · | actions