IIPR - Innovative Industrial Properties promotes its CFO to COO

2023-03-29 07:28:08 ET

• Innovative Industrial Properties ( NYSE: IIPR ), a REIT that focuses on regulated U.S. cannabis properties, has promoted its chief financial officer and treasurer, Catherine Hastings, to chief operating officer, and hired David Smith to succeed her as CFO and treasurer, the company said Wednesday.
• The company also promoted Ben Regin to chief investment officer from his current role of vice president of Investments.
• IIPR stock gained 1.0% in Wednesday premarket trading.
• Smith comes to Innovative Industrial ( IIPR ) from Aventine Property Group, a privately held REIT focused on the regulated cannabis industry, where he served as executive vice president and CFO since Aventine's spinoff from Treehouse Real Estate Investment Trust in January 2021. Before Treehouse, he was EVP and CFO of New Senior Investment Group ( SNR ) from January to September of 2019 after having joined New Senior from its financial sponsor, Fortress Investment Group.
• Hastings served as IIPR's CFO and treasurer since 2017 and chief acounting officer from 2017 to 2021.
• See why SA contributor On the Pulse favors Innovative Industrial Properties ( IIPR ), while Jeremy LaKosh suggests an alternative investment to the REIT's stock .

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