Innovative Industrial Properties presents $245 million Alewife Park mezzanine loan commitment
IIPR•Innovative Industrial Properties outlined a $245 million mezzanine loan commitment for Alewife Park, expected to yield an average 15.8%, subject to a 14% floor. Full deployment is expected to raise life sciences exposure to 26% of income.
1. Loan commitment details
Initial funding totals $111 million, with another $134 million expected through the fourth quarter of 2027. Available liquidity totaled $142 million, and net debt stood at 2.1 times annualized adjusted EBITDA.
