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  "documentTitle": "Innovative Industrial Properties, Inc. (IIPR)",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-04-09 00:00:00",
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      "text": "We find it hard to believe that within 34 days, the property went from an empty piece of land to a complete set of buildings, and thus have to assume that the $312,500 was the valuation of the land plus buildings, which implies that IIPR purchased the property at a significant premium.",
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      "text": "Google Earth photos show that as of 08/23/2015, there was already a fully constructed building. We find it hard to believe that within 34 days, the property went from an empty piece of land to a complete set of buildings, and thus have to assume that the $312,500 was the valuation of the land plus buildings, which implies that IIPR purchased the property at a significant premium.",
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      "text": "Our investigator visited the property in March 2020 and confirmed that there are improvements being made to the property.",
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      "text": "We believe there is a lot of ambiguity surrounding this acquisition and calls for further clarification regarding why the price had gone up significantly following ICC's purchase.",
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      "text": "Discount Treatment:",
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