Innovative Industrial Properties, Inc. (NYSE: IIPR) has just closed on a new $100 million secured revolving credit facility with a federally regulated commercial bank. The credit facility has an initial term of 3 years and is secured by the company’s IQHQ investment. Borrowings under the credit facility will bear interest at a rate equal to the one-month secured overnight financing rate (SOFR) plus a spread of 200 basis points (6.1% based on rates as of October 3, 2025). The credit facility also includes a $35 million “accordion feature” that permits the company to expand the borrowing capacity to a total of $135 million, subject to the addition of other lenders.
Alan Gold, Executive Chairman of IIP, noted that the successful closing of this credit facility supports their thesis that the recent investment in the life science industry should lead to improved access to and lower cost of capital. He highlighted the strong, low leveraged balance sheet and stated that the credit facility enhances their financial flexibility and provides them with an attractive, accretive investment spread exceeding 800 basis points on their IQHQ investment.
Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership, and management of specialized industrial properties and life science real estate.
This announcement comes as the company continues to capitalize on the strength of the life science industry, and with this new credit facility in place, it is well-positioned to support its strategic growth initiatives. Today the company's shares have moved -0.82% to a price of $54.41. If you want to know more, read the company's complete 8-K report here.
