Company: IIPR
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001677576-25-000005
Chunk: 45

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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431)Cash flows from financing activitiesIssuance of common stock, net of issuance costs— 11,757 Repurchase of common stock(20,108)— Issuance of preferred stock, net of issuance costs19,111 9,623 Draw on revolving credit facility50,000 — Principal payment on debt(8,697)(4,436)Payment of deferred financing costs— (261)Dividends paid to common stockholders(162,499)(157,699)Dividends paid to preferred stockholders(2,223)(1,014)Taxes paid related to net share settlement of equity awards(864)(750)Net cash provided by (used in) financing activities(125,280)(142,780)Net increase (decrease) in cash and cash equivalents(109,574)5,429 Cash and cash equivalents, beginning of period146,245 141,699 Cash and cash equivalents, end of period$36,671 $147,128 Supplemental disclosure of cash flow information:Cash paid during the period for interest, net of interest capitalized$8,019 $7,806 Supplemental disclosure of non-cash investing and financing activities:Accrual for current-period additions to real estate$3,541 $8,574 Accrual for common and preferred stock dividends declared54,793 54,817 Reclassification from other assets to real estate held for investment— 3,152 

See accompanying notes to the consolidated financial statements.

7

Innovative Industrial Properties, Inc.

Notes to the Consolidated Financial Statements

September 30, 2025

(Unaudited)

1. Organization

As used herein, the terms “we”, “us”, “our” or the “Company” refer to Innovative Industrial Properties, Inc., a Maryland corporation, and any of our subsidiaries, including IIP Operating Partnership, LP, a Delaware limited partnership (our “Operating Partnership”).We are an internally-managed real estate investment trust (“REIT”) focused on the acquisition, ownership and management of specialized industrial properties and financial investments in the life science industry. Our properties are primarily leased to experienced, state-licensed operators for their regulated cannabis facilities. We have acquired and intend to continue to acquire our properties through sale-leaseback transactions and third-party purchases. We have leased and expect to continue to primarily lease our properties on a triple-net lease basis, where the tenant is responsible for all aspects