Below are the financial statements of Innovative Industrial Properties, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 as of 2024-12-31 | 2023 as of 2023-12-31 |
|---|---|---|
| Assets | — | — |
| Real estate, at cost | — | — |
| Land | 146.77a | 142.52a |
| Buildings and improvements | 2,230.81a | 2,108.22a |
| Construction in progress | 62.39a | 117.77a |
| Total real estate, at cost | 2,439.97a | 2,368.52a |
| Less accumulated depreciation | -271.19a | -202.69a |
| Net real estate held for investment | 2,168.78a | 2,165.82a |
| Construction loan receivable | 22.8a | 22a |
| Cash and cash equivalents | 146.25a | 140.25a |
| Restricted cash | 0a | 1.45a |
| Investments | 5a | 21.95a |
| Right of use office lease asset | 0.95a | 1.36a |
| In-place lease intangible assets, net | 7.39a | 8.25a |
| Other assets, net | 26.89a | 30.02a |
| Total assets | 2,378.05a | 2,391.09a |
| Liabilities and stockholders’ equity | — | — |
| Liabilities | — | — |
| Exchangeable senior notes, net | 0a | 4.43a |
| Notes due 2026, net | 297.87a | 296.45a |
| Building improvements and construction funding payable | 10.23a | 9.59a |
| Accounts payable and accrued expenses | 10.56a | 11.41a |
| Dividends payable | 54.82a | 51.83a |
| Rent received in advance and tenant security deposits | 57.18a | 59.36a |
| Other liabilities | 11.34a | 5.06a |
| Total liabilities | 441.99a | 438.12a |
| Stockholders’ equity | — | — |
| Preferred stock - 9.00% Series A cumulative redeemable preferred stock | 23.63a | 14.01a |
| Common stock | 0.03a | 0.03a |
| Additional paid-in capital | 2,124.11a | 2,095.79a |
| Dividends in excess of earnings | -211.71a | -156.85a |
| Total stockholders’ equity | 1,936.06a | 1,952.97a |
| Total liabilities and stockholders’ equity | 2,378.05a | 2,391.09a |
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