$IIPR
INNOVATIVE INDUSTRIAL PROPERTIES INC Stock $iipr

$iipr Overview Financials Valuation SEC Filings Company Website

2021 Q4 Form 10-Q Financial Statement

#000155837021014644 Filed on November 04, 2021

Income Statement

Concept	2021 Q4	2021 Q3	2020 Q3
Revenue	$58.94M	$53.86M	$34.33M
YoY Change	58.91%	56.89%	197.07%
Cost Of Revenue	$1.826M	$1.365M	$2.920M
YoY Change	79.02%	-53.25%	711.11%
Gross Profit	$57.12M	$52.49M	$31.41M
YoY Change	58.35%	67.12%	180.45%
Gross Profit Margin	96.9%	97.47%	91.5%
Selling, General & Admin	$6.450M	$5.307M	$3.340M
YoY Change	43.65%	58.89%	54.63%
% of Gross Profit	11.29%	10.11%	10.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$12.21M	$10.89M	$7.646M
YoY Change	39.87%	42.44%	244.26%
% of Gross Profit	21.37%	20.75%	24.34%
Operating Expenses	$18.65M	$17.56M	$13.90M
YoY Change	31.08%	26.32%	193.71%
Operating Profit	$38.46M	$36.29M	$20.42M
YoY Change	68.24%	77.71%	199.41%
Interest Expense	-$6.140M	$6.309M	$1.861M
YoY Change	-429.05%	239.01%	1.25%
% of Operating Profit	-15.96%	17.38%	9.11%
Other Income/Expense, Net
YoY Change
Pretax Income	$28.63M	$30.09M	$19.22M
YoY Change	34.22%	56.58%	194.79%
Income Tax
% Of Pretax Income
Net Earnings	$28.63M	$30.09M	$19.22M
YoY Change	34.21%	56.62%	194.71%
Net Earnings / Revenue	48.57%	55.88%	55.98%
Basic Earnings Per Share		$1.24	$0.87
Diluted Earnings Per Share	$1.090M	$1.20	$0.86
COMMON SHARES
Basic Shares Outstanding	23.93M	23.89M	21.59M
Diluted Shares Outstanding		26.26M	21.71M

Balance Sheet

Concept	2021 Q4	2021 Q3	2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$81.10M	$127.3M	$161.1M
YoY Change	-35.64%	-20.98%	61.26%
Cash & Equivalents	$81.10M	$127.3M	$161.1M
Short-Term Investments
Other Short-Term Assets	$9.996M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$91.09M	$127.3M	$161.1M
YoY Change	-27.7%	-20.98%	59.5%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.641B	$1.402B	$886.1M
YoY Change	60.75%	58.19%	191.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$324.9M	$554.4M	$451.2M
YoY Change	-47.54%	22.88%	116.09%
Other Assets	$5.323M		$0.00
YoY Change			-100.0%
Total Long-Term Assets	$1.994B	$1.975B	$1.339B
YoY Change	21.4%	47.51%	156.37%
TOTAL ASSETS
Total Short-Term Assets	$91.09M	$127.3M	$161.1M
Total Long-Term Assets	$1.994B	$1.975B	$1.339B
Total Assets	$2.085B	$2.102B	$1.500B
YoY Change	17.9%	40.15%	140.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$7.353M	$8.224M	$1.100M
YoY Change	145.1%	647.64%	10.0%
Accrued Expenses	$1.532M	$1.633M	$1.300M
YoY Change	-43.26%	25.62%	1200.0%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$146.8M	$159.1M	$93.60M
YoY Change	37.98%	69.95%	138.78%
LONG-TERM LIABILITIES
Long-Term Debt	$326.1M	$431.9M	$136.2M
YoY Change	138.55%	217.09%	1.49%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$326.1M	$431.9M	$136.2M
YoY Change	138.55%	217.09%	1.49%
TOTAL LIABILITIES
Total Short-Term Liabilities	$146.8M	$159.1M	$93.60M
Total Long-Term Liabilities	$326.1M	$431.9M	$136.2M
Total Liabilities	$472.9M	$591.0M	$229.9M
YoY Change	94.52%	157.1%	32.56%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock	$1.673B	$1.562B	$1.295B
YoY Change	7.3%	20.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$1.612B	$1.511B	$1.270B
YoY Change
Total Liabilities & Shareholders Equity	$2.085B	$2.102B	$1.500B
YoY Change	17.9%	40.15%	140.67%

Cashflow Statement

Concept	2021 Q4	2021 Q3	2020 Q3
OPERATING ACTIVITIES
Net Income	$28.63M	$30.09M	$19.22M
YoY Change	34.21%	56.62%	194.71%
Depreciation, Depletion And Amortization	$12.21M	$10.89M	$7.646M
YoY Change	39.87%	42.44%	244.26%
Cash From Operating Activities	$47.79M	$51.57M	$33.50M
YoY Change	39.73%	53.93%	219.05%
INVESTING ACTIVITIES
Capital Expenditures	-$277.1M	-$133.9M	-$93.30M
YoY Change	101.08%	43.53%	34.44%
Acquisitions
YoY Change
Other Investing Activities	$226.5M	$87.59M	-$126.9M
YoY Change	-234.8%	-169.02%	84.45%
Cash From Investing Activities	-$50.62M	-$46.32M	-$220.3M
YoY Change	-83.45%	-78.97%	59.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-38.05M	-34.26M	286.2M
YoY Change	-116.09%	-111.97%	59.35%
NET CHANGE
Cash From Operating Activities	47.79M	51.57M	33.50M
Cash From Investing Activities	-50.62M	-46.32M	-220.3M
Cash From Financing Activities	-38.05M	-34.26M	286.2M
Net Change In Cash	-40.88M	-29.02M	99.40M
YoY Change	16.46%	-129.19%	91.52%
FREE CASH FLOW
Cash From Operating Activities	$47.79M	$51.57M	$33.50M
Capital Expenditures	-$277.1M	-$133.9M	-$93.30M
Free Cash Flow	$324.9M	$185.5M	$126.8M
YoY Change	88.88%	46.28%	58.7%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
CY2021Q3	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2020Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
	dei	Entity Central Index Key EntityCentralIndexKey	0001677576
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2021
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Amendment Flag AmendmentFlag	false
CY2021Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	23928304
CY2021Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	23928304
CY2020Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	23936928
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2021-09-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-37949
	dei	Entity Registrant Name EntityRegistrantName	Innovative Industrial Properties, Inc.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	MD
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	81-2963381
	dei	Entity Address Address Line1 EntityAddressAddressLine1	1389 Center Drive, Suite 200
	dei	Entity Address City Or Town EntityAddressCityOrTown	Park City
	dei	Entity Address State Or Province EntityAddressStateOrProvince	UT
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	84098
	dei	City Area Code CityAreaCode	858
	dei	Local Phone Number LocalPhoneNumber	997-3332
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	false
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
CY2021Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	23928304
CY2021Q3	us-gaap	Land Land	98930000
CY2020Q4	us-gaap	Land Land	75660000
CY2021Q3	us-gaap	Investment Building And Building Improvements InvestmentBuildingAndBuildingImprovements	816099000
CY2020Q4	us-gaap	Investment Building And Building Improvements InvestmentBuildingAndBuildingImprovements	644932000
CY2021Q3	us-gaap	Tenant Improvements TenantImprovements	551038000
CY2020Q4	us-gaap	Tenant Improvements TenantImprovements	339647000
CY2021Q3	us-gaap	Construction In Progress Gross ConstructionInProgressGross	4581000
CY2021Q3	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	1470648000
CY2020Q4	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	1060239000
CY2021Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	811000
CY2020Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	980000
CY2021Q3	us-gaap	Other Assets OtherAssets	9749000
CY2020Q4	us-gaap	Other Assets OtherAssets	1776000
CY2021Q3	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	69766000
CY2020Q4	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	40195000
CY2021Q3	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	1400882000
CY2020Q4	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	1020044000
CY2021Q3	iipr	Construction Loans ConstructionLoans	8925000
CY2021Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	127298000
CY2020Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	126006000
CY2021Q3	us-gaap	Short Term Investments ShortTermInvestments	554420000
CY2020Q4	us-gaap	Short Term Investments ShortTermInvestments	619275000
CY2021Q3	us-gaap	Assets Assets	2102085000
CY2020Q4	us-gaap	Assets Assets	1768081000
CY2021Q3	us-gaap	Convertible Debt ConvertibleDebt	138287000
CY2020Q4	us-gaap	Convertible Debt ConvertibleDebt	136693000
CY2021Q3	us-gaap	Unsecured Debt UnsecuredDebt	293593000
CY2021Q3	iipr	Tenant Improvements And Construction Payable TenantImprovementsAndConstructionPayable	61674000
CY2020Q4	iipr	Tenant Improvements And Construction Payable TenantImprovementsAndConstructionPayable	36500000
CY2021Q3	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	8449000
CY2020Q4	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	4641000
CY2021Q3	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	36321000
CY2020Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	30065000
CY2021Q3	us-gaap	Other Liabilities OtherLiabilities	1408000
CY2020Q4	us-gaap	Other Liabilities OtherLiabilities	1057000
CY2021Q3	iipr	Rents Received In Advance And Tenant Security Deposit RentsReceivedInAdvanceAndTenantSecurityDeposit	51222000
CY2020Q4	iipr	Rents Received In Advance And Tenant Security Deposit RentsReceivedInAdvanceAndTenantSecurityDeposit	34153000
CY2021Q3	us-gaap	Liabilities Liabilities	590954000
CY2020Q4	us-gaap	Liabilities Liabilities	243109000
CY2021Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2020Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2021Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000
CY2020Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000
CY2021Q3	us-gaap	Preferred Stock Value PreferredStockValue	14009000
CY2020Q4	us-gaap	Preferred Stock Value PreferredStockValue	14009000
CY2021Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2020Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2021Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	50000000
CY2020Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	50000000
CY2021Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	23928304
CY2020Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	23936928
CY2021Q3	us-gaap	Common Stock Value CommonStockValue	24000
CY2020Q4	us-gaap	Common Stock Value CommonStockValue	24000
CY2021Q3	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	1562099000
CY2020Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	1559059000
CY2021Q3	iipr	Dividend In Excess Of Earnings DividendInExcessOfEarnings	-65001000
CY2020Q4	iipr	Dividend In Excess Of Earnings DividendInExcessOfEarnings	-48120000
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	1511131000
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	1524972000
CY2021Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2102085000
CY2020Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1768081000
CY2021Q3	us-gaap	Operating Lease Lease Income OperatingLeaseLeaseIncome	53856000
CY2020Q3	us-gaap	Operating Lease Lease Income OperatingLeaseLeaseIncome	34327000
	us-gaap	Operating Lease Lease Income OperatingLeaseLeaseIncome	145608000
	us-gaap	Operating Lease Lease Income OperatingLeaseLeaseIncome	79803000
CY2021Q3	us-gaap	Revenues Revenues	53856000
CY2020Q3	us-gaap	Revenues Revenues	34327000
	us-gaap	Revenues Revenues	145608000
	us-gaap	Revenues Revenues	79803000
CY2021Q3	us-gaap	Lease Cost LeaseCost	1365000
CY2020Q3	us-gaap	Lease Cost LeaseCost	2919000
	us-gaap	Lease Cost LeaseCost	2617000
	us-gaap	Lease Cost LeaseCost	3933000
CY2021Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5307000
CY2020Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3339000
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	16511000
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	9695000
CY2021Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	10891000
CY2020Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	7646000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	29571000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	19299000
CY2021Q3	us-gaap	Operating Expenses OperatingExpenses	17563000
CY2020Q3	us-gaap	Operating Expenses OperatingExpenses	13904000
	us-gaap	Operating Expenses OperatingExpenses	48699000
	us-gaap	Operating Expenses OperatingExpenses	32927000
CY2021Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	36293000
CY2020Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	20423000
	us-gaap	Operating Income Loss OperatingIncomeLoss	96909000
	us-gaap	Operating Income Loss OperatingIncomeLoss	46876000
CY2021Q3	us-gaap	Interest And Other Income InterestAndOtherIncome	110000
CY2020Q3	us-gaap	Interest And Other Income InterestAndOtherIncome	653000
	us-gaap	Interest And Other Income InterestAndOtherIncome	325000
	us-gaap	Interest And Other Income InterestAndOtherIncome	3086000
CY2021Q3	us-gaap	Interest Expense InterestExpense	6309000
CY2020Q3	us-gaap	Interest Expense InterestExpense	1861000
	us-gaap	Interest Expense InterestExpense	11874000
	us-gaap	Interest Expense InterestExpense	5565000
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	30094000
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	19215000
	us-gaap	Net Income Loss NetIncomeLoss	85360000
	us-gaap	Net Income Loss NetIncomeLoss	44397000
CY2021Q3	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	338000
CY2020Q3	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	338000
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	1014000
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	1014000
CY2021Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	29756000
CY2020Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	18877000
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	84346000
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	43383000
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.24
CY2020Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.87
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.51
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.35
CY2021Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.20
CY2020Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.86
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.41
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.33
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23890537
CY2020Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	21594637
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23889903
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	18315231
CY2021Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	26260704
CY2020Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	21708725
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	26257504
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	18429228
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	1515167000
CY2020Q2	us-gaap	Stockholders Equity StockholdersEquity	969971000
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	30094000
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	19215000
CY2020Q3	iipr	Stock Issued During Period Value Sale Of Common Stock StockIssuedDuringPeriodValueSaleOfCommonStock	306294000
CY2021Q3	us-gaap	Dividends Preferred Stock DividendsPreferredStock	338000
	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	2488000
CY2020Q3	us-gaap	Dividends Preferred Stock DividendsPreferredStock	338000
CY2021Q3	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	35983000
CY2020Q3	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	25987000
CY2021Q3	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	2191000
CY2020Q3	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	841000
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	1511131000
CY2020Q3	us-gaap	Stockholders Equity StockholdersEquity	1269996000
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	1524972000
CY2019Q4	us-gaap	Stockholders Equity StockholdersEquity	548010000
	us-gaap	Net Income Loss NetIncomeLoss	85360000
	us-gaap	Net Income Loss NetIncomeLoss	44397000
	iipr	Stock Issued During Period Value Exchangeable Senior Notes StockIssuedDuringPeriodValueExchangeableSeniorNotes	1000
	iipr	Stock Issued During Period Value Sale Of Common Stock StockIssuedDuringPeriodValueSaleOfCommonStock	741106000
	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	-3384000
	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	-2166000
	us-gaap	Dividends Preferred Stock DividendsPreferredStock	1014000
	us-gaap	Dividends Preferred Stock DividendsPreferredStock	1014000
	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	101227000
	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	62826000
	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	6424000
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	1511131000
CY2020Q3	us-gaap	Stockholders Equity StockholdersEquity	1269996000
	us-gaap	Net Income Loss NetIncomeLoss	85360000
	us-gaap	Net Income Loss NetIncomeLoss	44397000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	29571000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	19299000
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-97000
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-139000
	us-gaap	Share Based Compensation ShareBasedCompensation	6424000
	us-gaap	Share Based Compensation ShareBasedCompensation	2488000
	iipr	Amortization Of Discounts On Short Term Investments AmortizationOfDiscountsOnShortTermInvestments	-283000
	iipr	Amortization Of Discounts On Short Term Investments AmortizationOfDiscountsOnShortTermInvestments	-2499000
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	2011000
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	1521000
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	3598000
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	364000
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	4308000
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-2095000
	iipr	Increase Decrease In Rents Received In Advance And Tenant Security Deposit IncreaseDecreaseInRentsReceivedInAdvanceAndTenantSecurityDeposit	17069000
	iipr	Increase Decrease In Rents Received In Advance And Tenant Security Deposit IncreaseDecreaseInRentsReceivedInAdvanceAndTenantSecurityDeposit	13692000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	140959000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	76578000
	us-gaap	Payments To Acquire Real Estate Held For Investment PaymentsToAcquireRealEstateHeldForInvestment	130853000
	us-gaap	Payments To Acquire Real Estate Held For Investment PaymentsToAcquireRealEstateHeldForInvestment	182086000
	us-gaap	Payments For Tenant Improvements PaymentsForTenantImprovements	254182000
	us-gaap	Payments For Tenant Improvements PaymentsForTenantImprovements	210114000
	iipr	Funding Of Construction Loan And Other Investments FundingOfConstructionLoanAndOtherInvestments	12077000
	iipr	Payment Of Deposits To Escrow For Acquisition PaymentOfDepositsToEscrowForAcquisition	1500000
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	127298000
CY2020Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	161074000
	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	499862000
	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	668576000
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Shortterm Investments ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments	565000000
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Shortterm Investments ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments	339492000
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-333474000
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-721284000
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	741120000
	us-gaap	Proceeds From Issuance Of Unsecured Debt ProceedsFromIssuanceOfUnsecuredDebt	300000000
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	6824000
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	94971000
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	49476000
	us-gaap	Payments Of Dividends Preferred Stock And Preference Stock PaymentsOfDividendsPreferredStockAndPreferenceStock	1014000
	us-gaap	Payments Of Dividends Preferred Stock And Preference Stock PaymentsOfDividendsPreferredStockAndPreferenceStock	1014000
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	3384000
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	2166000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	193807000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	688464000
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	1292000
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	43758000
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	126006000
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	117316000
	us-gaap	Interest Paid Net InterestPaidNet	5391000
	us-gaap	Interest Paid Net InterestPaidNet	5391000
	iipr	Accrual For Reimbursements Of Tenant Improvements And Construction Funding AccrualForReimbursementsOfTenantImprovementsAndConstructionFunding	61674000
	iipr	Accrual For Reimbursements Of Tenant Improvements And Construction Funding AccrualForReimbursementsOfTenantImprovementsAndConstructionFunding	30583000
	us-gaap	Escrow Deposit Disbursements Related To Property Acquisition1 EscrowDepositDisbursementsRelatedToPropertyAcquisition1	200000
	us-gaap	Escrow Deposit Disbursements Related To Property Acquisition1 EscrowDepositDisbursementsRelatedToPropertyAcquisition1	650000
	iipr	Accrual For Common And Preferred Stock Dividends Declared AccrualForCommonAndPreferredStockDividendsDeclared	36321000
	iipr	Accrual For Common And Preferred Stock Dividends Declared AccrualForCommonAndPreferredStockDividendsDeclared	26325000
	iipr	Invoices Accrued For Offering Cost InvoicesAccruedForOfferingCost	14000
	iipr	Stock Issued During Period Value Exchangeable Senior Notes StockIssuedDuringPeriodValueExchangeableSeniorNotes	1000
	us-gaap	Use Of Estimates UseOfEstimates	<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">Use of Estimates. </b>The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make a number of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Actual results may differ materially from these estimates and assumptions.</p>
	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1
	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1
	us-gaap	Property Plant And Equipment Impairment PropertyPlantAndEquipmentImpairment	<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">Provision for Impairment. </b>On a quarterly basis, we review current activities and changes in the business conditions of all of our properties prior to and subsequent to the end of each quarter to determine the existence of any triggering events or impairment indicators requiring an impairment analysis. If triggering events or impairment indicators are identified, we review an estimate of the future undiscounted cash flows for the properties, including, if necessary, a probability-weighted approach if multiple outcomes are under consideration.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">Long-lived assets are individually evaluated for impairment when conditions exist that may indicate that the carrying amount of a long-lived asset may not be recoverable. The carrying amount of a long-lived asset to be held and used is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Impairment indicators or triggering events for long-lived assets to be held and used are assessed by project and include significant fluctuations in estimated net operating income, occupancy changes, significant near-term lease expirations, current and historical operating and/or cash flow losses, construction costs, estimated completion dates, rental rates, and other market factors. We assess the expected undiscounted cash flows based upon numerous factors, including, but not limited to, construction costs, available market information, current and historical operating results, known trends, current market/economic conditions that may affect the property, and our assumptions about the use of the asset, including, if necessary, a probability-weighted approach if multiple outcomes are under consideration. Upon determination that an impairment has occurred, a write-down is recognized to reduce the carrying amount to its estimated fair value. We may adjust depreciation of properties that are expected to be disposed of or redeveloped prior to the end of their useful lives. No impairment losses were recognized during the nine months ended September 30, 2021 and 2020.</p>
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0
CY2020Q3	us-gaap	Lessee Operating Lease Discount Rate LesseeOperatingLeaseDiscountRate	0.0725
CY2021Q3	us-gaap	Lessee Operating Lease Discount Rate LesseeOperatingLeaseDiscountRate	0.0725
	us-gaap	Operating Lease Payments OperatingLeasePayments	176000
CY2021Q3	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	115100000
CY2020Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	98300000
	us-gaap	Operating Lease Payments OperatingLeasePayments	95000
CY2021Q3	iipr	Deferred Rents Property Management Fees And Security Deposits Repaid DeferredRentsPropertyManagementFeesAndSecurityDepositsRepaid	2100000
CY2021Q3	iipr	Deferred Rents Property Management Fees And Security Deposits Payable DeferredRentsPropertyManagementFeesAndSecurityDepositsPayable	411000
CY2021Q3	iipr	Number Of Leases With Purchase Option NumberOfLeasesWithPurchaseOption	1
CY2021Q3	iipr	Percentage Of Current Base Rent PercentageOfCurrentBaseRent	0.08
CY2021Q3	iipr	Purchase Option Price For Real Estate For Land And Buildings PurchaseOptionPriceForRealEstateForLandAndBuildings	30500000
CY2019Q1	us-gaap	Lease Practical Expedients Package LeasePracticalExpedientsPackage	true
CY2021Q3	us-gaap	Lessee Operating Lease Remaining Lease Term LesseeOperatingLeaseRemainingLeaseTerm	P3Y6M
CY2020Q4	us-gaap	Lessee Operating Lease Remaining Lease Term LesseeOperatingLeaseRemainingLeaseTerm	P4Y3M18D
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">Concentration of Credit Risk</b>. As of September 30, 2021, we owned 75 properties located in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia and Washington. The ability of any of our tenants to honor the terms of their leases is dependent upon the economic, regulatory, competition, natural and social factors affecting the community in which that tenant operates. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The following table sets forth the five tenants in our portfolio that represented the largest percentage of our total rental revenues for the three months ended September 30, 2021, including tenant reimbursements;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;"><span style="margin-bottom:10pt;visibility:hidden;"></span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td></tr><tr><td style="vertical-align:bottom;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:22.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">For the Three Months Ended </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td></tr><tr><td style="vertical-align:bottom;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:22.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">September 30, 2021</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td></tr><tr><td style="vertical-align:bottom;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Percentage of</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td></tr><tr><td style="vertical-align:bottom;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Number of </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;"> Rental </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td></tr><tr><td style="vertical-align:bottom;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Leases</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Revenue</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">SH Parent, Inc. ("Parallel")</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"> 4</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 12</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">PharmaCann Inc.</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"> 5</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 12</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Kings Garden Inc.</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"> 6</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 8</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Ascend Wellness Holdings, Inc.</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"> 3</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 8</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:72.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Green Thumb Industries, Inc.</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"> 3</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 7</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;"></span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The following table sets forth the five tenants in our portfolio that represented the largest percentage of our total rental revenues for the nine months ended September 30, 2021, including tenant reimbursements:</p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></td></tr><tr><td style="vertical-align:bottom;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:22.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">For the Nine Months Ended </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td></tr><tr><td style="vertical-align:bottom;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:22.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">September 30, 2021</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td></tr><tr><td style="vertical-align:bottom;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Percentage of</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td></tr><tr><td style="vertical-align:bottom;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Number of </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;"> Rental </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td></tr><tr><td style="vertical-align:bottom;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.65%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Leases</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Revenue</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">PharmaCann Inc.</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 5</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 13</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Parallel</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 4</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 10</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Ascend Wellness Holdings, Inc.</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 3</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 9</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Cresco Labs Inc.</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 5</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 8</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:72.57%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Kings Garden Inc.</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.65%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 6</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 7</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;"><span style="margin-bottom:10pt;visibility:hidden;"></span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The following table sets forth the five tenants in our portfolio that represented the largest percentage of our total rental revenues for the three and nine months ended September 30, 2020, including tenant reimbursements:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="margin-bottom:10pt;visibility:hidden;"></span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;"></span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.27%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">For the Three Months Ended </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.27%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">For the Nine Months Ended </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> </p></td></tr><tr><td style="vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">September 30, 2020</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">September 30, 2020</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> </p></td></tr><tr><td style="vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Percentage of </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Percentage of </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> </p></td></tr><tr><td style="vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Number of </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Rental </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Number of </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Rental </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td></tr><tr><td style="vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Leases</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Revenue</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Leases</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Revenue</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;"></span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">PharmaCann Inc.</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 5</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 16</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 5</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 19</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Cresco Labs Inc.</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 5</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 12</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 5</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 10</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Ascend Wellness Holdings, Inc.</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 3</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 10</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 3</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 10</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Holistic Industries, Inc.</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 4</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 6</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 4</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;"></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 6</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:46.82%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Curaleaf Holdings, Inc.</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 4</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 6</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:9.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> 4</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.51%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 6</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="font-size:9pt;margin-bottom:10pt;visibility:hidden;"></span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">In each of the tables above, these leases include leases with affiliates of each entity, for which the entity has provided a corporate guaranty.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">As of September 30, 2021 and December 31, 2020, none of our properties individually represented more than 5% of our net real estate held for investment.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">We have deposited cash with a financial institution that is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. As of September 30, 2021, we had cash accounts in excess of FDIC insured limits. We have not experienced any losses in such accounts.</p>
CY2021Q3	iipr	Number Of Properties NumberOfProperties	75
CY2021Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	50000000
CY2021Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2021Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	23928304
CY2021Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000
CY2021Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2021Q3	us-gaap	Net Rentable Area NetRentableArea	1876000
CY2021Q3	iipr	Real Estate Investment Purchase Price RealEstateInvestmentPurchasePrice	130918000
	iipr	Real Estate Investments Transaction Costs RealEstateInvestmentsTransactionCosts	135000
CY2021Q3	us-gaap	Real Estate Investments RealEstateInvestments	131053000
CY2021Q3	iipr	Tenant Improvement Allowance Increase TenantImprovementAllowanceIncrease	20000000.0
CY2021Q3	iipr	Real Estate Property Cost RealEstatePropertyCost	279400000
CY2021Q3	iipr	Reimbursement Payable For Acquisition Of Real Estate And Tenant Improvement ReimbursementPayableForAcquisitionOfRealEstateAndTenantImprovement	254200000
CY2020Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	2148218
CY2021Q3	us-gaap	Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear	55657000
CY2021Q3	us-gaap	Lessor Operating Lease Payments To Be Received Next Twelve Months LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths	241192000
CY2021Q3	us-gaap	Lessor Operating Lease Payments To Be Received Two Years LessorOperatingLeasePaymentsToBeReceivedTwoYears	253851000
CY2021Q3	us-gaap	Lessor Operating Lease Payments To Be Received Three Years LessorOperatingLeasePaymentsToBeReceivedThreeYears	261359000
CY2021Q3	us-gaap	Lessor Operating Lease Payments To Be Received Four Years LessorOperatingLeasePaymentsToBeReceivedFourYears	269194000
CY2021Q3	us-gaap	Lessor Operating Lease Payments To Be Received Thereafter LessorOperatingLeasePaymentsToBeReceivedThereafter	4143675000
CY2021Q3	us-gaap	Lessor Operating Lease Payments To Be Received LessorOperatingLeasePaymentsToBeReceived	5224928000
	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	2193492
CY2021Q3	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	2193492
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	2148218
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	30094000
CY2020Q3	us-gaap	Net Income Loss NetIncomeLoss	19215000
	us-gaap	Net Income Loss NetIncomeLoss	85360000
	us-gaap	Net Income Loss NetIncomeLoss	44397000
CY2021Q3	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	338000
CY2020Q3	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	338000
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	1014000
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	1014000
CY2021Q3	us-gaap	Undistributed Earnings Loss Allocated To Participating Securities Basic UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic	147000
CY2020Q3	us-gaap	Undistributed Earnings Loss Allocated To Participating Securities Basic UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic	133000
	us-gaap	Undistributed Earnings Loss Allocated To Participating Securities Basic UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic	410000
	us-gaap	Undistributed Earnings Loss Allocated To Participating Securities Basic UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic	369000
CY2021Q3	us-gaap	Undistributed Earnings Loss Available To Common Shareholders Basic UndistributedEarningsLossAvailableToCommonShareholdersBasic	29609000
CY2020Q3	us-gaap	Undistributed Earnings Loss Available To Common Shareholders Basic UndistributedEarningsLossAvailableToCommonShareholdersBasic	18744000
	us-gaap	Undistributed Earnings Loss Available To Common Shareholders Basic UndistributedEarningsLossAvailableToCommonShareholdersBasic	83936000
	us-gaap	Undistributed Earnings Loss Available To Common Shareholders Basic UndistributedEarningsLossAvailableToCommonShareholdersBasic	43014000
CY2021Q3	us-gaap	Dilutive Securities Effect On Basic Earnings Per Share Other DilutiveSecuritiesEffectOnBasicEarningsPerShareOther	1885000
	us-gaap	Dilutive Securities Effect On Basic Earnings Per Share Other DilutiveSecuritiesEffectOnBasicEarningsPerShareOther	5636000
CY2021Q3	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	31494000
CY2020Q3	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	18744000
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	89572000
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	43014000
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23890537
CY2020Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	21594637
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23889903
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	18315231
CY2021Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	176675
CY2020Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	114088
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	174109
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	113997
CY2021Q3	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	2193492
	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	2193492
CY2021Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	26260704
CY2020Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	21708725
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	26257504
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	18429228
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.24
CY2020Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.87
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.51
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.35
CY2021Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.20
CY2020Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.86
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.41
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.33
CY2021Q3	us-gaap	Short Term Investments ShortTermInvestments	554420000
CY2021Q3	us-gaap	Investments Fair Value Disclosure InvestmentsFairValueDisclosure	554410000
CY2020Q4	us-gaap	Short Term Investments ShortTermInvestments	619275000
CY2020Q4	us-gaap	Investments Fair Value Disclosure InvestmentsFairValueDisclosure	619270000
CY2021Q3	us-gaap	Convertible Debt ConvertibleDebt	138287000
CY2021Q3	us-gaap	Convertible Debt Fair Value Disclosures ConvertibleDebtFairValueDisclosures	506291000
CY2020Q4	us-gaap	Convertible Debt ConvertibleDebt	136693000
CY2020Q4	us-gaap	Convertible Debt Fair Value Disclosures ConvertibleDebtFairValueDisclosures	397663000
CY2021Q3	us-gaap	Unsecured Debt UnsecuredDebt	293593000
CY2021Q3	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	315789000
CY2021Q3	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	60000
CY2021Q3	us-gaap	Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths	242000
CY2021Q3	us-gaap	Lessee Operating Lease Liability Payments Due In Rolling Year Two LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo	249000
CY2021Q3	us-gaap	Lessee Operating Lease Liability Payments Due In Rolling Year Three LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree	256000
CY2021Q3	us-gaap	Lessee Operating Lease Liability Payments Due In Rolling Year Four LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour	88000
CY2021Q3	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	895000
CY2021Q3	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	12000
CY2021Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	883000

Files In Submission

Name	View Source	Status
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0001558370-21-014644-index.html	Edgar Link	pending
0001558370-21-014644.txt	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$IIPR
INNOVATIVE INDUSTRIAL PROPERTIES INC Stock $iipr

2021 Q4 Form 10-Q Financial Statement

#000155837021014644 Filed on November 04, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IIPR INNOVATIVE INDUSTRIAL PROPERTIES INC Stock $iipr

2021 Q4 Form 10-Q Financial Statement

#000155837021014644 Filed on November 04, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IIPR
INNOVATIVE INDUSTRIAL PROPERTIES INC Stock $iipr