Innovative Industrial Properties Reports Default by PharmaCann on All Leases
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Innovative Industrial Properties (IIP) reported that PharmaCann defaulted on its lease obligations for eleven properties, which accounted for 17% of IIP's rental revenues for the three and nine months ended September 30, 2024.
December 20, 2024 | 12:15 pm
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PharmaCann's default on lease payments affects 17% of IIP's rental revenues, potentially impacting IIP's financial performance and stock price.
PharmaCann's default on lease payments for eleven properties significantly impacts IIP's revenue stream, as these leases represent 17% of its rental income. This could lead to a negative short-term impact on IIP's stock price due to potential revenue loss and investor concerns.
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