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  "documentTitle": "Innovative Industrial Properties, Inc. (IIPR)",
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  "presentationDate": "2020-04-09 00:00:00",
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      "text": "We discount 2020 rent revenue by 100% due to tenant defaulting.",
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      "text": "yield: 15.75%",
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      "text": "Discount Treatment: We discount 2020 rent revenue by 100% due to tenant defaulting.",
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      "text": "Address: We identify the address to be One 310th Avenue, Barry, Illinois. Parcel #: 46-027-07G/H",
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      "text": "Core Issue: Overpayment",
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      "text": "Initial Terms: We estimate 2020 rent to be $5.1M, representing a 15.75% yield.",
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      "text": "More disturbingly, as IIPR disclosed, the tenant has defaulted on its rental payment as of Jan 2020. In fact, according to a report, the public company has stopped trading and is proceeding to bankruptcy. We feel it is highly unlikely IIPR will ever receive payment from DionyMed.",
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      "text": "Transaction details: IIPR purchased a property from Ascend Wellness at Pike County IL for a purchase price of $19M on 12/20/2018, comprising of 75,000 sq. ft. of industrial space. IIPR is offering reimbursement of up to $6M.",
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