Initial Statement of Beneficial Ownership of Securities

This filing is an Initial Statement of Beneficial Ownership of Securities (Form 3) for Bruce Alan Ives, a director at INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). The report covers the period of June 9, 2026, with the signature date of June 11, 2026. Bruce Alan Ives is reporting ownership related to the issuer. The filing indicates that Bruce Alan Ives is a director and not a ten percent owner, officer, or other. The filing does not include details on derivative or non-derivative securities owned, but states "noSecuritiesOwned" as "1", which may refer to a nominal share or a placeholder in the system.