Item 2.02 Results of Operations and Financial Condition.

On January 18, 2023, Innovative Industrial Properties, Inc. (the "Company") issued a press release that provides information regarding certain operational updates and expected related impact on fourth quarter and full-year financial results.

The press release is included herewith as Exhibit 99.1 and is incorporated herein by reference.

The information contained in the press release is summary information that is intended to be considered in the context of the Company's filings with the U.S. Securities and Exchange Commission (the "SEC") and other public announcements that the Company makes, by press release or otherwise, from time to time. Unless legally required, the Company undertakes no duty or obligation to publicly update or revise the information contained in this Current Report, although it may do so from time to time as its management believes is appropriate. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.




Item 8.01 Other Events.

See "Item 2.02. Results of Operations and Financial Condition" above, which is incorporated herein by reference.

Cautionary Statement Regarding Forward-Looking Statements

This Current Report contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements about the Company's expectations, beliefs, plans or forecasts. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, and they include, but are not limited to, statements regarding future rent collection and deferrals and the acquisition, development, and lease of properties that are subject to a purchase agreement or letter of intent. Words such as "project," "expect" or similar expressions that convey the prospective nature of events or outcomes are generally indicative of forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this Current Report. The Company does not undertake any obligation to update, modify or withdraw any forward-looking statements as a result of new information, future events or otherwise.

Although the Company believes that the expectations reflected in any of its forward-looking statements are reasonable, actual results may differ from anticipated results, sometimes materially. Factors that could cause results to differ from those projected or assumed in any forward-looking statement include, but are not limited to those factors found in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Item 9.01. Financial Statements and Exhibits.






(d) Exhibits.




Exhibit      Description of Exhibit

  99.1         Press release issued by Innovative Industrial Properties, Inc. on
             January 18, 2023.

104          Cover Page Interactive Data File (embedded within the Inline XBRL
             document).

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