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Innovative Industrial registers $250M shelf

Cannabis-focused industrial real estate investment trust Innovative Industrial Properties Inc. filed a registration statement for the sale of up to $250.0 million of its securities from time to time.

The filing covers common stock, preferred stock, depositary shares, warrants, rights and units.

The REIT said it plans to use the net proceeds to invest in specialized industrial real estate assets that support the regulated medical-use cannabis cultivation and processing industry and for general corporate purposes.