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Exhibit 21.1
Subsidiaries of the Registrant
The list below excludes subsidiaries in the same line of business (ownership and operation of commercial real estate) and includes the immediate parent of each excluded subsidiary. The list also excludes subsidiaries that in the aggregate, as a single subsidiary, would not constitute a significant subsidiary as of December 31, 2023. A total of 69 subsidiaries have been excluded.
Subsidiary |
| State of Incorporation/Formation |
IIP Operating Partnership, LP |
| Delaware |
Innovative Industrial Properties, LP |
| Delaware |
IIPR, Inc. | | Maryland |
IIP-GP 2 LLC | | Delaware |