Innovative Industrial Properties, Inc. · NYSE:IIPR
Innovative Industrial Properties — Investor Presentation (February 2022)
15 slides from Innovative Industrial Properties's investor presentation, Feb 28, 2022
Slide 1: Innovative Industrial Properties Company Presentation
INNOVATIVE INDUSTRIAL PROPERTIES Company Presentation NYSE: IIPR www.innovativeindustrialproperties.com Posted February 28, 2022 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation and our associated comments include "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
Slide 3: Company Highlights
Company Highlights Management Team with Deep Underwriting Expertise Competitive Advantage as a Market Leader in an Industry with Strong Fundamentals Well Diversified Specialized Industrial Portfolio Long-Term NNN Leases on Mission Critical Assets with Quality Tenants Low Levered Balance Sheet 3
Slide 4: Executive Chairman and Co-Founder
Executive Chairman and Co-Founder Alan Gold has experience starting real estate companies focused on nuanced, regulated industries Co-founder of BioMed Realty Trust (formerly NYSE: BMR); served as Chairman and CEO from inception of its predecessor in 1998 through BMR’s sale in 2016 • Owner and opera
Slide 5: Senior Management Team
Senior Management Team Pa u l S m i t h e r s Ca t h e r i n e H a s t i n g s B r i a n Wo l f e Pr e s i d e n t , C E O a n d C o - Fo u n d e r C F O a n d Tr e a s u r e r V P, G C a n d S e c r e t a r y 35+ years of legal and regulatory 20 years of accounting and real Former VP, Corpora
Slide 6: Why We Formed IIPR
Why We Formed IIPR Limited Access to Financing Due to federal prohibition and being a nascent industry, U.S. cannabis operators were historically required to fund growth through highly dilutive Outsized Need for Capital forms of capital absent other forms of financing Specialized Real Estate U.S. ca
Slide 7: Our Business Model and Benefits
Our Business Model and Benefits IIPR Executes to a Clear, Simple and Repeatable Strategy Designed to Yield Attractive Benefits We work closely with Execute sale-leasebacks Provide Facilitate to to to quality state-licensed of cultivation, non-dilutive capital our tenant’s growth cannabis operators p
Slide 8: Why this is a Specialized Asset Class
Why this is a Specialized Asset Class Long-term, Pure Industry Leading Opportunity for NNN Leases Rental Yields Expansion at Existing Properties to Meet Demand Growth 8
Slide 9: IIPR Today
IIPR Today Innovative Industrial Properties is the Leading Provider of Real Estate Capital for the Regulated Cannabis Industry 105 7.9M # of Tenants(6) by Year Properties Rentable 22 27 Square Feet (2) 8 20 1 4 2016 2017 2018 2019 2020 Today # of States by Year $2.1B 19 17 19 14 Total Committed/ Sta
Slide 10: Portfolio Overview
Portfolio Overview $2.1B Committed/Invested Capital(1) 105 Properties 19 States 7.9M Sq. Ft.(2) $6.00 Annualized Dividend(3) 16.6 Yrs. WALL(4) State Diversification(5) Pennsylvania 14.1% Michigan 13.3% Illinois 13.2% California 12.6% Massachusetts 11.0% Florida 8.0% New York 6.1% New Jersey 4.3% Col
Slide 11: Licensing, Zoning and Regulatory Dynamics
Licensing, Zoning and Regulatory Dynamics Establishing a Cultivation, Processing or Dispensary Facility is a Multifaceted Process with Significant Hurdles Licensing • A regulated cannabis operator must obtain proper licensing from the state for the facility • Licensing driven by state-specific progr
Slide 12: Cultivation and Processing Facility Buildout
Cultivation and Processing Facility Buildout Subset of Industrial that Requires Specialized Expertise to Properly Build Out Cultivation and Processing Facility Cultivation facilities are designed to ensure the production of safe, consistent and high-quality products Mission Critical Assets for Long-
Slide 13: Underwriting and Monitoring
Underwriting and Monitoring Detailed Background Experienced management team with deep understanding of the cannabis industry on Management Alignment of management within ownership of the business Ability to Raise Evaluation of the macro environment surrounding strategic capital raising in the
Slide 14: Regulated Cannabis Industry Overview
Regulated Cannabis Industry Overview R A P I D LY GR O W I NG I N D UST RY • U.S. regulated cannabis sales were $18B in 2020, and are expected to grow to $47 billion by 2026(1) • 428,000 full time U.S. cannabis industry employees in 2021, representing over 30% growth year-over-year(2) LA R GE M A R
Slide 15: Innovative Industrial Properties
INNOVATIVE Industrial Properties
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