President and Chief Executive Officer Paul Smithers said Innovative Industrial Properties intends to coordinate an orderly transition of possession with Parallel while retaining its rights and remedies under the leases. Financing Activity and Cannabis Market OutlookDuring the quarter, Innovative Industrial Properties completed nearly $150 million of secured term loan financings through five transactions. About Innovative Industrial Properties (NYSE:IIPR)Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams. Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.