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Environmental Violations Lead to $40,000 in Penalties for Cannabis Grower

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Innovative Industrial Properties Reports Fourth Quarter and Full-Year 2020 Results

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The amount relates to a lease amendment which increased the tenant improvement allowance under a lease at one of IIP’s Ohio properties by $25.0 million to a total of $29.3 million, and also resulted in a corresponding adjustment to the base rent for the lease at the property. The additional tenant improvement allowance is expected to increase the property footprint by 80,000 square feet. As of February 24, 2021, IIP had funded approximately $7.6 million of the tenant improvement allowance.
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The amount relates to a lease amendment which increased the tenant improvement allowance under a lease at one of IIP’s Michigan properties by $525,000 to a total of approximately $1.8 million, and also resulted in a corresponding adjustment to the base rent for the lease at the property. As of February 24, 2021, IIP had funded approximately $1.7 million of the tenant improvement allowance. ....

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Innovative Industrial Properties Q4 Revenue Increases 110% to $37.1 Million – New Cannabis Ventures

February 24, 2021 at 4:53 pm
Published by NCV Newswire
Innovative Industrial Properties Reports Fourth Quarter and Full-Year 2020 Results
Acquisitions and Portfolio Performance Drive FY 2020 Y-o-Y Growth of 162% in Total Revenues, 191% in Net Income and 180% in AFFO
SAN DIEGO, February 24, 2021–(BUSINESS WIRE)–Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today results for the fourth quarter and year ended December 31, 2020, the fourth full year since IIP commenced real estate operations and completed its initial public offering in December 2016.
Full Year 2020 Highlights
Generated total revenues of approximately $116.9 million, net income attributable to common stockholders of approximately $64.4 million and adjusted funds from operations (“AFFO”) of approximately $97.8 million, representing increas ....

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