Innovative Industrial Properties Announces Closing of $56.5 Million Secured Term Loan
Innovative Industrial Properties closed a $56.5 million secured term loan with a three-year initial term and an interest rate of one-month SOFR plus 500 basis points. Proceeds from the financing are earmarked to pay off unsecured notes maturing at the end of the current month.
Key figures
- Deal Value Usd
- 56500000
- Term years
- 3
- Payment structure
- interest only
- Interest rate type
- 1-month SOFR
- Interest rate spread bps
- 500
AI analysis
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