Innovative Industrial Properties investor deck highlights $2.4 billion cannabis, life sciences portfolio
Reuters2026/08/03 20:48- IIPR outlined a diversified REIT strategy spanning cannabis real estate and life sciences, with USD 2.4 billion of total invested capital across 108 properties.
- Revenue for Q2 2026 totaled USD 63.3 million; annualized AFFO per share was USD 7.32; net debt to adjusted EBITDA was 1.7x.
- Portfolio revenue mix remained cannabis-heavy at 87.6% of base rent/interest, with life sciences at 12.2% on USD 325 million annualized base rent/interest.
- Life sciences exposure centered on a USD 270 million IQHQ commitment, split between a 13.5% yield revolving credit facility and 15% yield preferred stock.
- Balance sheet update highlighted USD 402.5 million of 6% exchangeable senior notes due June 2029; gross debt was USD 623.6 million; liquidity available was USD 300 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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