IIPR - Innovative Industrial Properties updates on properties as of Dec. 31 2022

• Real estate company Innovative Industrial Properties ( NYSE: IIPR ) said it owned 110 properties located in 19 states as of Dec. 31, 2022, as part of its property portfolio information and operational update.
• The operating portfolio included 108 properties. The portfolio collected 92% of base rent and property management fees as of today for the month of January. A total of 94% was collected for the three months ended Dec. 31 and 97% was collected for the year ended Dec. 31.
• The company said that it made nine acquisitions for properties located in seven states in 2022, and executed 12 lease amendments to provide additional improvement allowances at properties in seven states.
• The company's balance sheet as of Dec. 31, 2022, comprised of 12% debt to total gross assets, with ~$2.6B in total gross assets; quarterly fixed cash interest obligation of ~$4.2M; no secured debt; and no debt maturities until May 2026.
• Source: Press Release

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