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  "documentTitle": "Innovative Industrial Properties, Inc. (IIPR)",
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  "authorName": "Grizzly Research",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-04-09 00:00:00",
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      "text": "Consistent with the prior analysis, the two properties together should be valued around $18.4M, which is about 56% of the price IIPR paid.",
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      "text": "Google Maps view of 3625 US-45, Kankakee, IL",
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      "text": "valuation: $18.4M",
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      "text": "Consistent with the prior analysis, the two properties together should be valued around $18.4M, which is about 56% of the price IIPR paid.",
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      "text": "Based on the information on the previous parcel (purchase price of $20.7M), this would imply the Kankakee purchase price to be $25.6M. However, according to deed records, IIPR only paid $12.1M. IIPR correctly disclosed the total investment amount in their 10k to be $32.8M.",
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      "text": "Toledo OH Green Thumb Industries LLC. Core Issue: None. Transaction details: IIPR purchased a property from Green Thumbs Industries located at Toledo OH for a purchase price of $2.9M on 02/03/2020, and provides reimbursement for improvement up to $4.3M.",
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      "kind": "paragraph",
      "text": "Discount Treatment: This property is disclosed in conjunction with the previous property (Will County IL Cresco) as the Cresco IL - Portfolio. As part of the Cresco IL portfolio, we discounted 2020 rent revenue by 48% due to overpayment.",
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      "text": "Property: Cresco IL Portfolio, State: Illinois, Year Built/Renovated: Various (3), Land: 3,215, Building and Improvements: 29,601",
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