President and CEO
Innovative Industrial Properties

Paul Smithers

Paul E. Smithers has served as President and Chief Executive Officer of Innovative Industrial Properties, Inc. since its inception in 2016. Innovative Industrial Properties, Inc. is the pioneering real estate investment trust for the cannabis industry and is the first publicly traded company on the New York Stock Exchange (NYSE: IIPR) to provide real estate capital to the cannabis industry. Innovative Industrial Properties, Inc. targets licensed cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term, triple-net leases. As of October 1, 2020, IIP owned 63 properties located in 16 states, totaling approximately 5.0 million rentable square feet, which were 99.3% leased, with a weighted-average remaining lease term of approximately 16.2 years. As of October 1, 2020, IIP had invested approximately $1.2 Billion in its portfolio of cannabis properties.

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