Innovative Industrial Properties Acquires Missouri Property and Enters Into Long-Term Lease with CPC of Missouri – Smithville
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Monday, September 20, 2021
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Assuming full reimbursement for the construction, IIPs total investment in the property is expected to be $28.25 million (excluding transaction costs).
Key Points:
- Assuming full reimbursement for the construction, IIPs total investment in the property is expected to be $28.25 million (excluding transaction costs).
- CPC intends to operate the property upon completion of construction as a licensed cannabis cultivation and processing facility.
- 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.