Company:  INNOVATIVE INDUSTRIAL PRO ... (IIPR)
Form Type:  424B5
Filing Date:  7/11/2019 
CIK:  0001677576 
Address:  11440 WEST BERNARDO COURT, SUITE 220 
City, State, Zip:  SAN DIEGO, California 92127 
Telephone:  (858) 997-3332 
Fiscal Year:  12/31 
Last Trade
Last Trade: 
$123.32  
Change: 
-0.28 (-0.23%)  
Trade Time: 
Jul 19  
Market Cap: 
$1.37B
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© 2019  
Description of Business
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, or our Operating Partnership. We are an internally-managed real estate investment trust ("REIT") focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated state-licensed 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 lease our properties on a triple-net lease basis, where the tenant is responsible for all aspects of and costs related to the property and its operation during the lease term, including structural repairs, maintenance, taxes and insurance.
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  FORM 424B5
    SUBJECT TO COMPLETION, DATED JULY 11, 2019
    TABLE OF CONTENTS
    ABOUT THIS PROSPECTUS SUPPLEMENT AND THE PROSPECTUS
      Our Properties
    Executive Compensation
    THE OFFERING
    RISK FACTORS
    FORWARD-LOOKING STATEMENTS
    USE OF PROCEEDS
    CAPITALIZATION
    UNDERWRITING
    ADDITIONAL MATERIALU.S. FEDERAL INCOME TAX CONSIDERATIONS
    LEGAL MATTERS
    EXPERTS
    WHERE YOU CAN FIND ADDITIONAL INFORMATION
    RISK FACTORS
    USE OF PROCEEDS
    DESCRIPTION OF CAPITAL STOCK
    Transfer Agent and Registrar
    DESCRIPTION OF DEPOSITARY SHARES
    DESCRIPTION OF WARRANTS
    DESCRIPTION OF UNITS
      Indemnification
    PLAN OF DISTRIBUTION
      Indemnification