Innovative Industrial Properties Responds to Short-Seller Report
15 4월 2022 - 3:23AM
Business Wire
Innovative Industrial Properties, Inc. (IIP), the first and only
real estate company on the New York Stock Exchange (NYSE: IIPR)
focused on the regulated U.S. cannabis industry, today announced
that it is aware of a short-seller report released earlier today,
that contains numerous false and misleading statements about IIP.
Similar to a short-seller report previously issued in 2020, this
short-seller report is flawed and demonstrates a basic lack of
understanding of commercial real estate generally, the regulated
cannabis industry and IIP’s straightforward, simple business
model.
In particular, it is IIP’s opinion that this short-seller fails
to have any comprehension of the scope of significant
infrastructure improvements that are needed for the transformation
of a standard industrial building to a mission-critical facility
with the enhanced environmental controls and other building systems
necessary for regulated cannabis cultivation and processing. In
addition, the writers do not understand the process that IIP
employs for underwriting those improvements, and that any IIP
reimbursements relate only to verified, qualified improvements to
the buildings for these purposes, and never as funding for any type
of “loan” to be utilized for any other purpose.
Given the flawed nature and disinformation contained in this
short-seller report, other than the clarification set forth above,
the short-seller report’s content does not warrant a response from
IIP.
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 cannabis
facilities. Innovative Industrial Properties, Inc. has elected to
be taxed as a real estate investment trust, commencing with the
year ended December 31, 2017. Additional information is available
at www.innovativeindustrialproperties.com.
Innovative Industrial Properties
Forward-Looking Statements
This press release contains statements that IIP 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 are forward-looking
statements. When used in this press release, words such as IIP
“expects,” “intends,” “plans,” “estimates,” “anticipate,”
“believes” 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. IIP disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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Catherine Hastings Chief Financial Officer Innovative Industrial
Properties, Inc. (858) 997-3332
Innovative Industrial Pr... (NYSE:IIPR)
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