Exhibit 99.1 Innovative Industrial Properties Reports Fourth Quarter and Full-Year 2023 Results FY 2023 Net Income and AFFO Per Share Increased 5% and 7% over 2022, Respectively SAN DIEGO, CA – February 26, 2024 – Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today results for the fourth quarter and year ended December 31, 2023. Full Year 2023 · Generated total revenu ...