Innovative Industrial Properties Announces Senior Leadership Appointment and Promotions
29 Mars 2023 - 1:00PM
Business Wire
David Smith Joins as CFO, Catherine Hastings
Promoted to COO and Ben Regin Promoted to CIO
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
the hiring of David Smith as Chief Financial Officer and Treasurer,
and the promotions of Catherine Hastings to Chief Operating Officer
and Ben Regin to Chief Investment Officer.
Mr. Smith previously served as Executive Vice President and
Chief Financial Officer of Aventine Property Group, Inc., a
privately-held real estate investment trust (REIT) focused on the
regulated cannabis industry, since Aventine’s spin-off from
Treehouse Real Estate Investment Trust, Inc. in January 2021. Mr.
Smith held the same roles at Treehouse, a privately-held REIT
focused on the regulated cannabis industry, from October 2019
through December 2020. Prior to Treehouse, Mr. Smith served as the
Executive Vice President and Chief Financial Officer of New Senior
Investment Group Inc. (NYSE: SNR) from January 2019 to September
2019. Mr. Smith joined New Senior from its financial sponsor,
Fortress Investment Group, where he was in the Private Equity Group
as Managing Director from September 2016 and Vice President from
September 2014 to September 2016, leading New Senior’s capital
markets and investor relations activities. Prior to Fortress, Mr.
Smith served as a Managing Director, Capital Markets & Investor
Relations at Aviv REIT, Inc. (NYSE: AVIV) from April 2012 to August
2014. Prior to Aviv REIT, Mr. Smith held various finance, capital
markets, and investor relations roles at Ventas (NYSE: VTR) from
November 2006 to March 2012. He began his career in the real estate
investment banking group at A.G. Edwards. Mr. Smith received a
Bachelor of Science degree with honors in Finance from the
University of Wisconsin-La Crosse.
“I am delighted to welcome David to our senior management team,”
commented Paul Smithers, IIP’s President and Chief Executive
Officer. “David brings breadth and depth in his two decades of
experience with private and public REITs, including an in-depth
understanding of the real estate that is mission-critical to the
regulated cannabis industry. With our seasoned team of
professionals, we look forward to David’s contributions as we
continue to execute on our long-term vision for the company.”
Ms. Hastings was promoted to Chief Operating Officer, having
previously served as IIP’s Chief Financial Officer and Treasurer
since 2017 and as Chief Accounting Officer from 2017 to 2021. For
the past six years, Ms. Hastings has led the finance and accounting
teams through the company’s growth from $60 million in assets at
its initial public offering in December 2016 to over $2.4 billion
in assets as of December 31, 2022, including 110 properties
totaling approximately 8.7 million rentable square feet across 19
states.
Mr. Regin was promoted to Chief Investment Officer, having
previously served as IIP’s Vice President of Investments and having
joined IIP in 2017. During his tenure at IIP, Mr. Regin has
overseen the company’s execution on real estate investments
totaling well in excess of $2 billion.
“Catherine’s and Ben’s contributions to IIP in the past six
years have been invaluable, and I am so pleased to announce these
well-deserved promotions,” said Alan Gold, Executive Chairman of
IIP. “I am confident that Catherine and Ben will continue to excel
in these new roles, providing their strength in leadership and
execution to guide the company towards continued success over the
long term.”
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised
Maryland corporation focused on the acquisition, ownership and
management of specialized industrial properties leased to
experienced, state-licensed operators for their regulated
medical-use cannabis facilities. Innovative Industrial Properties,
Inc. has elected to be taxed as a real estate investment trust,
commencing with the year ended December 31, 2017. Additional
information is available at
www.innovativeindustrialproperties.com.
Forward-Looking Statements
This press release contains statements that IIP believes to be
“forward-looking statements” within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than historical facts are forward-looking
statements. When used in this press release, words such as we
“expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or
“should” or the negative thereof or similar terminology are
generally intended to identify forward-looking statements. Such
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
expressed in, or implied by, such statements. Investors should not
place undue reliance upon forward-looking statements. IIP disclaims
any obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230328005893/en/
IIP Contact: David Smith Chief Financial Officer and Treasurer
Innovative Industrial Properties, Inc. (858) 997-3332
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