finanzen.net
12.07.2018 22:30
Bewerten
(0)

Innovative Industrial Properties Acquires Massachusetts Property and Enters Into Long-Term Lease with Holistic Industries

DRUCKEN

Innovative Industrial Properties, Inc. (the "Company") (NYSE: IIPR), the leading provider of creative real estate capital solutions to the medical-use cannabis industry, announced today that it closed on the acquisition of a property located at 96 Palmer Road in Monson, Massachusetts, which comprises approximately 55,000 square feet of industrial space situated on approximately 5.4 acres.

The purchase price for the property was $12.75 million. Concurrent with the closing of the purchase, the Company entered into a long-term, triple-net lease agreement with Holistic Industries, Inc. ("Holistic"), which intends to continue to operate the property as a medical-use cannabis cultivation and processing facility in accordance with Massachusetts medical-use cannabis regulations. The initial term of the lease is 20 years, with three options to extend the term for three additional five-year periods. The lease provides for an initial annualized aggregate base rent of $1,912,500, which is equal to 15% of the purchase price of the property. The aggregate base rent is subject to 3.25% annual increases during the term of the lease, and Holistic is also responsible for paying the Company a property management fee equal to 1.5% of the then-current aggregate base rent. As a part of its medical cannabis license, Holistic is allowed up to three registered marijuana dispensaries, which are in varying stages of development.

Massachusetts, with approximately 6.9 million residents, approved cannabis for medical-use by popular vote in 2012, with first sales in 2014. As of June 30, 2018, there were 36 registered marijuana dispensaries and over 51,000 active patients in the medical-use cannabis program, treating a wide variety of qualifying medical conditions, including cancer, HIV/AIDS, anxiety, depression, chronic back pain and multiple sclerosis. Massachusetts voters also approved cannabis for adult-use in November 2016, with first sales under the regulated adult-use cannabis program expected to take place in 2018. ArcView Market Research projects Massachusetts' total regulated cannabis spending to grow rapidly, from approximately $380 million in sales in 2018 to approximately $1.2 billion by 2022.

"We are very pleased to close on this transaction with Holistic in Massachusetts, whose seasoned management team has operated in regulated medical-use cannabis markets for many years," said Paul Smithers, President and Chief Executive Officer of the Company. "We look forward to supporting Holistic as their long-term real estate partner, as they continue to expand their operations and develop their dispensary locations to address compelling patient needs."

"The IIP team was great to work with throughout this transaction, making the process smooth and accelerating our timeframe to close, which provides us the funds to reinvest into our program expansion in Massachusetts," said Josh Genderson, Chief Executive Officer of Holistic. "We are singularly focused on creating the highest quality product with exacting specifications for our patients, and this facility provides us the state-of-the-art environment to do just that. We look forward to delivering that level of quality to our Massachusetts patients for many years to come."

About Innovative Industrial Properties

Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. intends to elect to be taxed as a real estate investment trust. Additional information is available at www.innovativeindustrialproperties.com.

Innovative Industrial Properties Forward-Looking Statements

This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the lease of the Massachusetts property, Holistic and the Massachusetts regulated cannabis market, are forward-looking statements. When used in this press release, words such as we "expect," "intend," "plan," "estimate," "anticipate," "believe" or "should" or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Nachrichten zu Innovative Industrial Properties Inc Registered Shs -A-

  • Relevant
  • Alle
  • vom Unternehmen
  • Peer Group
  • ?

Um Ihnen die Übersicht über die große Anzahl an Nachrichten, die jeden Tag für ein Unternehmen erscheinen, etwas zu erleichtern, haben wir den Nachrichtenfeed in folgende Kategorien aufgeteilt:

Relevant: Nachrichten von ausgesuchten Quellen, die sich im Speziellen mit diesem Unternehmen befassen

Alle: Alle Nachrichten, die dieses Unternehmen betreffen. Z.B. auch Marktberichte die außerdem auch andere Unternehmen betreffen

vom Unternehmen: Nachrichten und Adhoc-Meldungen, die vom Unternehmen selbst veröffentlicht werden

Peer Group: Nachrichten von Unternehmen, die zur Peer Group gehören

Analysen zu Innovative Industrial Properties Inc Registered Shs -A-

  • Alle
  • Buy
  • Hold
  • Sell
  • ?
Keine Analysen gefunden.
mehr Analysen
Anzeige
Anzeige
Börse Stuttgart Anlegerclub

Fünf deutsche Internet-Aktien, die Sie kennen sollten!

Das Gute liegt oft so nah. Heimische Internet-Unternehmen rollen den Markt auf. Im neuen Anlegermagazin erwartet Sie ein Special über deutsche Internet-Aktien, die Sie kennen sollten.
Kostenfrei registrieren und lesen!

Innovative Industrial Properties A Peer Group News

Keine Nachrichten gefunden.

Heute im Fokus

DAX geht mit rot in den Feierabend -- US-Börsen fester -- Henkel mit Gegenwind -- K+S meldet Gewinnwarnung -- Buffetts Berkshire beteiligt sich an JPMorgan -- HUGO BOSS, GERRY WEBER, Linde im Fokus

May muss sich möglicherweise Misstrauensabstimmung stellen. 3M will Gewinne kräftig steigern. Sixt kündigt Gewinnsprung an. Apple-Zulieferer ams dampft Prognose ein. Brexit: Sondergipfel am 25. November. Cisco überrascht mit gutem Start ins neue Geschäftsjahr. Uber weitet angeblich Verlust vor geplantem Börsengang aus.

Top-Rankings

Diese Aktien hat Warren Buffett im Depot
Einige Änderungen unter den Top-Positionen
Netter Bonus
Auf soviel Weihnachtsgeld dürfen sich Arbeitnehmer 2018 in Deutschland freuen
Die Performance der Rohstoffe in in KW 45 2018.
Welcher Rohstoff macht das Rennen?

Die 5 beliebtesten Top-Rankings

Die reichsten Länder der EU
Das sind die wohlhabendsten Länder der EU
Die besten Airlines der Welt 2018
Welche Fluggesellschaft triumphiert?
Best Global Brands 2018
Die Top 20 der wertvollsten Marken weltweit
Gut bezahlte Jobs
Bei diesen Top-Konzernen brauchen Bewerber keinen Abschluss
Das Schwarzbuch 2018/2019
Wo 2018 sinnlos Steuern verbrannt wurden
mehr Top Rankings

Umfrage

Horst Seehofer will sein Amt als Parteivorsitzender der CSU niederlegen aber weiterhin Bundesinnenminister bleiben. Halten Sie das für richtig?

finanzen.net Brokerage

Online Brokerage über finanzen.net

Das Beste aus zwei Welten: Handeln Sie für nur 5 Euro Orderprovision* pro Trade unmittelbar aus der Informationswelt von finanzen.net!
Zur klassischen Ansicht wechseln
Kontakt - Impressum - Werben - Pressemehr anzeigen
Top News
Beliebte Suchen
DAX 30
Öl
Euro US-Dollar
Bitcoin
Goldpreis
Meistgesucht
Daimler AG710000
Wirecard AG747206
Amazon906866
GAZPROM903276
Steinhoff International N.V.A14XB9
Deutsche Bank AG514000
Apple Inc.865985
Aurora Cannabis IncA12GS7
BayerBAY001
EVOTEC AG566480
PG&E Corp.851962
Anheuser-Busch InBev SA (spons. ADRs)A0N916
Deutsche Telekom AG555750
CommerzbankCBK100
Volkswagen (VW) AG Vz.766403