Innovative Industrial Properties Pulls $300 Million Debt Offering Due to Market Conditions
FeaturedTrending Stories February 5, 2022 MJ Shareholders 0
Earlier this week, Cannabis REIT Innovative Industrial Properties (NYSE: IIPR) began marketing a $300 million debt offering.
After the close on Friday, the company disclosed in an SEC filing that it has decided to not proceed due to market conditions. The company, which manages approximately $1.7 billion of assets, had intended to use the proceeds to fund the purchase of real estate assets.
After returning more than 47% in 2021, IIPR is down almost 27% in 2022 to date.
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