Innovative Industrial Properties, Inc. (NYSE: IIPR) announced today that it has closed a new $100 million secured revolving credit facility with a federally regulated commercial bank. The facility is secured by the company’s investment in IQHQ, a private life‑science real‑estate platform, and provides IIPR with a flexible source of capital to support its strategic growth initiatives.
The credit facility carries an interest rate equal to the one‑month Secured Overnight Financing Rate (SOFR) plus a 200‑basis‑point spread, which translates to approximately 6.1% as of October 3 2025. It has an initial term of three years and includes a $35 million accordion feature that allows the borrowing capacity to be expanded to $135 million, subject to additional lenders’ participation.
By securing this facility, IIPR enhances its financial flexibility and reduces its cost of capital for future investments, particularly in the life‑science sector. The move is expected to support the company’s ongoing diversification strategy and provide a more attractive investment spread exceeding 800 basis points on its IQHQ investment, thereby strengthening shareholder value.
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