• Innovative Industrial Properties closed four secured term loans totaling USD 44.9 million in gross proceeds.
• The loans carry a five-year initial term with a fixed interest rate of 6.67%.
• Borrowings are secured by certain company properties.
• Proceeds are expected to repay unsecured notes maturing at the end of this month.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IIP - Innovative Industrial Properties Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-064109), on May 20, 2026, and is solely responsible for the information contained therein.