Innovative Industrial Properties REIT Investor Investigation


Girard Sharp is investigating potential claims on behalf of Innovative Industrial Properties, Inc. REIT stockholders arising out of potential misrepresentations concerning the performance of the company.

If you invested in Innovative Industrial Properties REIT, you may have a claim for relief.

Protect your rights by speaking with a Girard Sharp attorney—dial (866) 981-4800 or submit your information below. 

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More Information on Innovative Industrial Properties REIT Investigation

Innovative Industrial Properties, Inc. (IIPR) is a real estate investment trust (REIT) that describes itself as focused on the acquisition, ownership and management of specialized properties leased to state-licensed operators for their regulated cannabis facilities. In exchange for purchasing properties from cannabis companies and funding the tenant improvements to build out the facilities, IIPR receives repayment in the form of long-term lease agreements.

On April 14, 2022, short seller Blue Orca Capital released a report stating that most of IIPR’s borrowers are struggling with falling share prices, net income losses, and declining free cash flows. The report goes on to state that IIPR’s largest tenant, Parallel, is currently in default on debt and being accused of running a Ponzi scheme, and that IIPR’s second largest tenant (cannabis company Kings Garden) has been accused of fraud in an ongoing lawsuit between co-founders. According to Blue Orca, IIPR’s business depends on high-quality tenants that can unfailingly repay their loans; as a result, the current, distressed status of IIPR tenants puts its business model at risk of failure.

Since release of this report on April 14, 2022, IIPR’s stock price has dropped by $13.76.

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We have recovered over a billion dollars for our clients against some of the nation’s largest corporations, such as Raymond James, Peregrine Financial Group, and Oppenheimer Funds, in cases arising from securities fraud, false advertising and other unfair business practices.  

For a free consultation about your potential claims, contact one of our investment fraud attorneys at (866) 981-4800 or by filling out the form above.

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