Innovative Industrial Properties Announces Mezzanine Loan Commitment of $245 Million for Alewife Park
Business Wire•01/10/2026•06:45 ET
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Key Highlights
- ➤$245 million mezzanine loan commitment to IQHQ affiliates for Alewife Park (IIPR)
- ➤15.8% expected loan yield, subject to a 14% floor (IIPR)
- ➤$111 million funded at closing; $134 million expected through Q4 2027 (IIPR)
- ➤Phase I 78% leased to Lila Sciences at Cambridge life science campus
- ➤Up to $155 million additional investment option on same terms (IIPR)
Expert Statements
Alan Gold, Executive Chairman of Innovative Industrial Properties
“We are pleased to further expand our life science portfolio through this investment for Alewife Park, which we believe will provide attractive risk-adjusted returns for IIP shareholders and significant accretion to our earnings”
Alan Gold, Executive Chairman of Innovative Industrial Properties
“This transaction reflects our disciplined approach to capital allocation by providing financing in support of a premier Class A life science campus in Cambridge that has demonstrated strong leasing momentum and further allows us to capitalize on the attractive, long-term strength of the life science industry.”
Innovative Industrial Properties Announces Mezzanine Loan Commitment of $245 Million for Alewife Park
Investment Expected to Yield 15.8% and Generate Significant Earnings Accretion for IIP Shareholders
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