IIPR subsidiaries borrow $56.5M secured term loan, parent company provides guaranty

Filed May 6, 2026 · Period ending May 5, 2026 · ~1 min read

Key Changes

• high

  Eight IIPR subsidiaries borrowed $56.5 million from Thorofare Asset Based Lending, maturing May 2029 with two optional 12-month extensions. Parent company provided unsecured guaranty for full amount.

  Item 1.01 verify on EDGAR →
• high

  Loan secured by parent's equity interests in eight borrowing subsidiaries plus mortgages on eight properties owned by those entities, providing lender dual-layer security.

  Item 1.01 verify on EDGAR →
• high

  Parent company must maintain minimum $120M net worth and $12M liquid assets throughout loan term as guaranty condition, creating ongoing financial covenants.

  Item 1.01 verify on EDGAR →