Innovative Industrial Properties Inc.

htm EXHIBIT 99.1 Exhibit 99.1 Innovative Industrial Properties Reports Second Quarter 2025 Results Repurchased $20 Million of Common Stock and Maintained Strong Liquidity Exceeding $190 Million SAN DIEGO, CA – August 6, 2025 – Innovative Industrial Properties, Inc.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Second Quarter 2025 Highlights Financial Results and Dividend • Generated total revenues of $62.9 million and net income attributable to common stockholders of $25.1 million, or $0.86 per share ( all per share amounts in this press release are reported on a diluted basis unless otherwise noted ).

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

• Paid a quarterly dividend of $1.90 per common share on July 15, 2025 to stockholders of record as of June 30, 2025.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Since its inception, IIP has paid $1.0 billion in common stock dividends to its stockholders.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Balance Sheet Highlights (at June 30, 2025) • 11% debt to total gross assets, with $2.6 billion in total gross assets.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

• Total liquidity was $192.4 million as of June 30, 2025, consisting of cash and cash equivalents and short-term investments (each as reported in IIP’s consolidated balance sheet as of June 30, 2025) and availability under IIP’s revolving credit facility.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

(NYSE: IIPR) (“IIP” or the “Company”), the first and only real estate company on the New York Stock Exchange focused on the regulated U.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Portfolio Update - Lease Defaults • In March 2025, the Company launched a strategic initiative aimed at improving long-term financial performance by replacing certain underperforming tenants with more financially stable, long-term operators.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

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.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Likewise, our statements regarding anticipated funds from operations and anticipated market and regulatory conditions, our strategic direction, our dividend rate and policy, demographics, results of operations, plans and objectives are forward - looking statements .

SEC original ↗Innovative Industrial Properties Inc. — Presentation / slide deck (8-K exhibit)EX-99Aug 7, 2025

You can also identify forward - looking statements by discussions of strategy, plans or intentions .

SEC original ↗Innovative Industrial Properties Inc. — Presentation / slide deck (8-K exhibit)EX-99Aug 7, 2025

Additionally, PharmaCann previously defaulted on its eleven leases with the Company across multiple states where the Company has commenced legal proceedings to regain possession of the properties they continue to occupy and re-leased one property located in Warren, Michigan to Berry Green.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company’s control and which could materially affect actual results, performances or achievements.

SEC original ↗Innovative Industrial Properties Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Forward - looking statements involve numerous risks and uncertainties, and you should not rely on them as predictions of future events .

SEC original ↗Innovative Industrial Properties Inc. — Presentation / slide deck (8-K exhibit)EX-99Aug 7, 2025

The risks included here are not exhaustive, and additional factors could adversely affect our business and financial performance .

SEC original ↗Innovative Industrial Properties Inc. — Presentation / slide deck (8-K exhibit)EX-99Aug 7, 2025

COM COMPANY PRESENTATION AUGUST 2025 Innovative Industrial Properties 2 This presentation and our associated comments includes "forward - looking statements" (within the meaning of the Private Securitie s Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) that are subject to risks and uncertainties.

SEC original ↗Innovative Industrial Properties Inc. — Presentation / slide deck (8-K exhibit)EX-99Aug 7, 2025