SAN DIEGO–(BUSINESS WIRE)–Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced the tax treatment of its 2023 distributions as follows: Security Description: Common Stock CUSIP: 45781V101 Ticker Symbol: IIPR   Record Date   Payable Date Total Distribution Per Share   Allocable to 2023 Taxable Ordinary Dividend   Return of Capital   Long-Term Capital Gain Unrecaptured Section 1250 Gain(1) Section 199A Dividend(2) 12/30/2022 01/13/2023 $1.800000 $1.470000 $1.470000 $0.000000