Innovative Industrial Properties, Inc. · NYSE:IIPR
Innovative Industrial Properties — Investor Presentation (May 2022)
15 slides from Innovative Industrial Properties's investor presentation, May 11, 2022
Slide 1: Innovative Industrial Properties Company Presentation
INNOVATIVE INDUSTRIAL PROPERTIES Company Presentation NYSE: IIPR www.innovativeindustrialproperties.com Posted: May 11,2022 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: 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 4: 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 5: 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 6: 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 and fund improvements non-dilutive capital our tenant’s growth cannabis opera
Slide 7: 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 7
Slide 8: IIPR Today
IIPR Today Innovative Industrial Properties is the Leading Provider of Real Estate Capital for the Regulated Cannabis Industry # of Tenants by Year(6) 109 8.1M 20 22 25 28 Properties Rentable 1 4 8 Square Feet (2) 2016 2017 2018 2019 2020 2021 Today # of States by Year 17 19 19 14 $2.2B 19 1 4 9 Tot
Slide 9: Portfolio Overview
Portfolio Overview $2.2B Committed/Invested Capital(1) 109 Properties 19 States 8.1M Sq. Ft.(2) $7.00 Annualized Dividend(3) 16.4 Yrs. WALL(4) State Diversification(5) Pennsylvania 13.8% Michigan 13.0% Illinois 12.6% California 11.9% Massachusetts 11.1% New York 7.8% Florida 7.6% New Jersey 4.1% Mar
Slide 10: Top Ten Tenants by Invested Capital
Top Ten Tenants by Invested Capital Top 10 tenants represent ~75% of the company’s invested capital and stabilized revenue IIP Portfolio Calendar Year 2021(3) Tenant Information(5) % of Invested % of Stabilized Adjusted Geographical Number Production Dispensary Tenant Capital(1) Revenue(2) Revenue E
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: Cannabis Cultivation and Processing Facility Buildout
Cannabis 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 Investing in Environment
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 G R O W I NG I N D USTRY • U.S. regulated cannabis sales were $24B in 2020, and are expected to grow to $46 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 RK
Slide 15: Innovative Industrial Properties
©) INNOVATIVE Industrial Properties
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