Innovative Industrial Properties, Inc. (NYSE:IIPR) entered into a definitive purchase and sale agreement to acquire TILT’s cultivation and production facility in White Haven, Pennsylvania from White Haven RE, LLC for $15 million on May 16, 2022. In accordance with the terms of the transaction, TILT’s subsidiary, Standard Farms, LLC, will also execute a long-term, triple-net lease agreement with substantially the same terms as the lease pertaining to the Taunton Facility. The Pennsylvania Transaction is subject to various closing conditions, including standard property/title inspections and appraisals and is scheduled to close in the coming weeks.