Latest news with #AlanGold
Business Wire
06-08-2025
- Business
- Business Wire
Innovative Industrial Properties Announces Strategic and Diversifying $270 Million Investment in Life Science Real Estate Platform
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) ('IIP' or the 'Company'), announced today that it entered into agreements to make an investment totaling up to $270 million into IQHQ, Inc. ('IQHQ'), a premier life science real estate platform with over $5 billion in total assets. The investment (the 'Investment,' 'Transaction,' or 'Investment Transaction') is comprised of two discrete investments that together are expected to earn a weighted average interest rate of greater than 14% per annum: A $100 million commitment to a revolving credit facility ('RCF') with an initial term of three years, which can be extended for an additional 12 months upon payment of an extension fee. The RCF will be fully funded upfront, with closing subject to customary approvals. A commitment to purchase up to $170 million of preferred stock ('Preferred Stock') of IQHQ. The Preferred Stock investment is expected to be funded in multiple tranches between the third quarter of 2025 and the second quarter of 2027, subject to extensions at the option of IQHQ. Warrants in IQHQ, subject to the satisfaction of certain funding milestones of the Preferred Stock. 'We are excited to announce our first expansion outside of cannabis with this highly accretive transaction that diversifies our business and accelerates IIP's growth trajectory,' said Alan Gold, Executive Chairman of IIP. 'While we remain committed to the cannabis industry, this transaction leverages our team's deep historical experience in the life science industry, which we believe will benefit IIP shareholders via earnings growth and as participants in the life science secular recovery that I believe is underfoot. The transaction is structured with key tenets that include strong current income over the life of the investment, paired with future upside opportunities via warrants and the potential to acquire life science real estate facilities directly from IQHQ.' Strategic and Financial Benefits of the Transaction: Highly Accretive Transaction Investment is expected to be highly accretive to AFFO per share based on the weighted average interest rate payable (which is expected to exceed 14% per annum). Senior Position in the Capital Stack Offers Strong Risk-Adjusted Return Opportunity Investment is comprised of the RCF and Preferred Stock, which both sit senior to all common equity in IQHQ and at a material discount to replacement cost of the underlying assets. Enhanced Portfolio Diversification by Sector, Tenant and Investment Type Pro forma for the closing of the Transaction, IIP will diversify its holdings and reduce current sector and tenant concentration. IIP believes these measures further improve its financial outlook. Rental revenues from regulated cannabis facilities are expected to decrease to 88% of the Company's total revenues on an adjusted basis as of June 30, 2025. Improved Cost of Capital Potential The enhanced scale and diversification that is expected from the Transaction may support a lower cost of equity and debt capital for IIP and further accelerate its growth. IIP has Expertise in Capitalizing on Long-Term Secular Tailwinds in Life Sciences IIP management team has decades of combined experience in the life science real estate industry through its prior role leading top-performing publicly-traded life science REITs. Noteworthy experience includes Alan Gold's role as Founder and CEO of BioMed Realty Trust, which held its IPO in 2004 and culminated in a successful $8 billion sale to Blackstone in 2016. According to Pitchbook, 2025 fundraising for the life science industry is on track to achieve the highest level since 2021, which was the all-time high. According to CBRE, deliveries of new life science real estate are expected to meaningfully decrease during the term of the Transaction, which IIP believes will contribute to strength in the underlying sector and Investment. The Company expects to fund the RCF with a combination of cash on hand and draws from the Company's revolving credit facility. The Company expects to fund the Preferred Stock investment with cash on hand, draws from the Company's revolving credit facility and potential proceeds from future financing activities. The Investment Transaction is expected to close in the third quarter of 2025, subject to the satisfaction of customary closing conditions. About IQHQ IQHQ, Inc. is a life science focused real estate company founded in 2019 to meet the growing industry needs through the acquisition, development, redevelopment, leasing and management of life science assets. About Innovative Industrial Properties Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties, and, pro forma for this contemplated transaction, life science real estate. Additional information is available at This press release contains statements that IIP believes to be 'forward-looking statements' within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts are forward-looking statements. When used in this press release, words such as IIP 'expects,' 'intends,' 'plans,' 'estimates,' 'anticipates,' 'believes' or 'should' or the negative thereof or similar terminology are generally intended to identify forward-looking statements, and they include, but are not limited to, statements regarding the size, structure, and timing of the Investment Transaction; its expected yield and accretive impact; the satisfaction of closing conditions; anticipated effects on the Company's financial results, including AFFO per share; expected improvements in cost of capital and future growth prospects; anticipated funding sources for the Preferred Stock investment; the outlook for the life science industry; and potential upside from the receipt of warrants. These forward-looking statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Factors that could cause results to differ from those projected or assumed in any forward-looking statement include, but are not limited to, the risk factors discussed in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2024, as updated by the Company's subsequent reports filed with the Securities and Exchange Commission. Investors should not place undue reliance upon forward-looking statements. IIP disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Yahoo
01-08-2025
- Business
- Yahoo
Innovative Industrial Properties Announces Second Quarter 2025
Earnings Release Date and Conference Call SAN DIEGO, August 01, 2025--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it will report its second quarter 2025 results after the close of trading on the New York Stock Exchange on Wednesday, August 6, 2025. Alan Gold, Executive Chairman; Paul Smithers, President and Chief Executive Officer; David Smith, Chief Financial Officer; Catherine Hastings, Chief Operating Officer; and Ben Regin, Chief Investment Officer, will host an investor conference call at 9:00 a.m. Pacific Time on Thursday, August 7, 2025, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations section of the company's website at or live by calling 1-877-328-5514 (domestic) or 1-412-902-6764 (international) and asking to be joined to the Innovative Industrial Properties, Inc. conference call. The complete webcast will be archived for 90 days on the company's website. A telephone playback of the conference call will also be available from 12:00 p.m. Pacific Time on Thursday, August 7, 2025 until 12:00 p.m. Pacific Time on Thursday, August 14, 2025 by calling 1‐877‐344‐7529 (domestic), 855‐669‐9658 (Canada) or 1‐412‐317‐0088 (international) and using access code 9556330. About Innovative Industrial Properties Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Additional information is available at View source version on Contacts Company Contact:David SmithChief Financial OfficerInnovative Industrial Properties, Inc.(858) 997-3332 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
01-08-2025
- Business
- Business Wire
Innovative Industrial Properties Announces Second Quarter 2025
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it will report its second quarter 2025 results after the close of trading on the New York Stock Exchange on Wednesday, August 6, 2025. Alan Gold, Executive Chairman; Paul Smithers, President and Chief Executive Officer; David Smith, Chief Financial Officer; Catherine Hastings, Chief Operating Officer; and Ben Regin, Chief Investment Officer, will host an investor conference call at 9:00 a.m. Pacific Time on Thursday, August 7, 2025, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations section of the company's website at or live by calling 1-877-328-5514 (domestic) or 1-412-902-6764 (international) and asking to be joined to the Innovative Industrial Properties, Inc. conference call. The complete webcast will be archived for 90 days on the company's website. A telephone playback of the conference call will also be available from 12:00 p.m. Pacific Time on Thursday, August 7, 2025 until 12:00 p.m. Pacific Time on Thursday, August 14, 2025 by calling 1‐877‐344‐7529 (domestic), 855‐669‐9658 (Canada) or 1‐412‐317‐0088 (international) and using access code 9556330. Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Additional information is available at
Time Out
12-05-2025
- Entertainment
- Time Out
9 foodie instagrammers you need to keep on your radar
Alan Gold, better known as @acomercongold, is 37 years old and one of the most followed and beloved foodie figures in the local gastronomic scene. With an approachable, authentic, and always tempting style, this young man from the Buenos Aires neighborhood of Núñez roams around grills, bodegones, all-you-can-eat spots, and hidden gems across Buenos Aires (and beyond), looking for those special finds that make a difference. He tells us that he got into food on social media because of his father, who instilled in him a passion for dining out and trying different dishes. 'I never ordered the kids' menu because I wanted to eat what the adults were having,' he recalls. 'I wanted to give my personal touch to the world of social media and show what I love most, which is going out to eat,' says Alan, who now owns an agency that handles the social media of restaurants and food businesses. With over 200K followers on Instagram and a huge following on TikTok—where his videos exceed 120 million views and go viral whenever he recommends a generous dish or showcases an Argentine experience—Alan knows how to eat well and, even more importantly, how to share the experience. He manages social media professionally and connects with his audience through genuine enjoyment, no fluff. A fan of Bicho (Argentinos Juniors, of course), Alan is the friend we all wish we had for dining out—and the one who always knows where to go.
Business Wire
21-04-2025
- Business
- Business Wire
Innovative Industrial Properties Announces First Quarter 2025 Earnings Release Date and Conference Call
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it will report its first quarter 2025 results after the close of trading on the New York Stock Exchange on Wednesday, May 7, 2025. Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, David Smith, Chief Financial Officer, Catherine Hastings, Chief Operating Officer, and Ben Regin, Chief Investment Officer, will host an investor conference call at 9:00 a.m. Pacific Time on Thursday, May 8, 2025, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations section of the company's website at or live by calling 1-877-328-5514 (domestic) or 1-412-902-6764 (international) and asking to be joined to the Innovative Industrial Properties, Inc. conference call. The complete webcast will be archived for 90 days on the company's website. A telephone playback of the conference call will also be available from 12:00 p.m. Pacific Time on Thursday, May 8, 2025 until 12:00 p.m. Pacific Time on Thursday, May 15, 2025 by calling 1‐877‐344‐7529 (domestic), 855‐669‐9658 (Canada) or 1‐412‐317‐0088 (international) and using access code 2796375. About Innovative Industrial Properties Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Additional information is available at
