{"url_path":"/sec/iipr/8-k/2026-07-21/item-8-01","section_key":"item-8-01","section_title":"Item 8.01 Other Events.**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-21","source_url":"https://www.sec.gov/Archives/edgar/data/1677576/0001104659-26-085238-index.html","accession_number":"0001104659-26-085238","cik":"0001677576","ticker":"IIPR","issuer_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1677576/0001104659-26-085238-index.html","primary_entity_key":"0001677576","primary_entity_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC"},"word_count":489,"has_tables":true,"body_markdown":"**Item 8.01\nOther Events.**\n\n \n\nInnovative\nIndustrial Properties, Inc. (the “Company”), through indirect, wholly owned subsidiaries serving as landlords, previously\nentered into leases (collectively, the “Leases”) with certain affiliates of SH Parent, Inc., as the respective tenants, and\nSH Parent, Inc., as guarantor (collectively, “Parallel”) for two properties in Florida that the Company owns, which represented\napproximately 5.2% of the Company’s annualized contractual rent and income from loans and securities and 5.7% of the Company’s\nannualized contractual rent for the three months ended March 31, 2026.\n\n \n\nOn\nJuly 20, 2026, Parallel defaulted (beyond the applicable cure periods) on its obligations to pay rent for the month of July under its\ntwo Leases with the Company, including base rent, reimbursements for estimated tax and insurance payments, default interest and late charges\ntotaling approximately $1.6 million for these two properties. The Company is holding security deposits pursuant to these Leases which\nmay be applied to cover the payment in full of the defaulted rent and estimated tax and insurance payments, in addition to late charges\nand interest.\n\n \n\nOn\nJuly 20, 2026, counsel for Parallel notified the Company that Parallel had ceased its cannabis operations at both properties and intends\nto vacate the properties and surrender possession thereof to the Company. The Company intends to coordinate with Parallel regarding an\norderly transition of possession of the properties, while continuing to reserve all rights and remedies available to the Company under\nthe Leases.\n\n \n\n**Cautionary\nStatement Regarding Forward-Looking Statements**\n\n \n\nThis\nCurrent Report contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the\nPrivate Securities Litigation Reform Act of 1995, including but not limited to statements regarding the Company’s expectations concerning\nenforcement of its rights under the Leases, future rent collection and occupancy. All statements other than statements of historical fact\nare “forward-looking statements” for purposes of federal and state securities laws. Words such as “project,” “expect,”\n“may” or similar expressions that convey the prospective nature of events or outcomes are generally indicative of forward-looking\nstatements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this Current Report.\nThe Company does not undertake any obligation to update, modify or withdraw any forward-looking statements as a result of new information,\nfuture events or otherwise.\n\n \n\nAlthough\nthe Company believes that the expectations reflected in any of its forward-looking statements are reasonable, actual results may differ\nfrom anticipated results, sometimes materially. Factors that could cause results to differ from those projected or assumed in any forward-looking\nstatement include, but are not limited to those factors found in the Company’s filings with the U.S. Securities and Exchange Commission,\nincluding those set forth under the headings “Business,” “Risk Factors,” and “Management’s Discussion\nand Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K for the year ended\nDecember 31, 2025 and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K."}