Investor deck highlights portfolio mix and balance sheet
Innovative Industrial Properties (IIPR) outlined a diversified REIT strategy spanning cannabis real estate and life sciences, with $2.4 billion of total invested capital across 108 properties.
Revenue for Q2 2026 totaled $63.3 million; annualized AFFO per share was $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 $325 million annualized base rent/interest.
Life sciences exposure centered on a $270 million IQHQ commitment, split between a 13.5% yield revolving credit facility and 15% yield preferred stock.
Balance sheet update highlighted $402.5 million of 6% exchangeable senior notes due June 2029; gross debt was $623.6 million; liquidity available was $300 million.
IIPR•
