National Cannabis Real Estate Summit

Paul E. Smithers has served as President and Chief Executive Officer of Innovative Industrial Properties, Inc. since its inception in 2016. Innovative Industrial Properties, Inc. is the pioneering real estate investment trust for the cannabis industry and is the first publicly traded company on the New York Stock Exchange (NYSE: IIPR) to provide real estate capital to the cannabis industry. Innovative Industrial Properties, Inc. targets licensed cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term, triple-net leases. As of March 1, 2022, IIP owned 105 properties located in 19 states, totaling approximately 8.0 million rentable square feet, which were 100% leased, with a weighted-average remaining lease term in excess of 16 years. As of March 1, 2022, IIP had invested approximately $2.0 Billion in its portfolio of cannabis properties.

Ben Regin has served as our vice president of investments since January 2020 and our director of investments and finance since January 2017. Until December 2016, Mr. Regin held positions as senior associate, investments from May 2015 to December 2016 and senior associate, asset management from April 2013 to May 2015 with BioMed Realty Trust, Inc. (formerly NYSE: BMR), a REIT specializing in acquiring, leasing, developing and managing laboratory and office space for the life science industry. Prior to BioMed Realty, he was a senior associate, finance and associate, business operations at Westcore Properties, a privately-held, industrial-focused real estate investment company, from November 2007 to March 2013 and a senior audit associate at PricewaterhouseCoopers LLP from September 2004 to November 2007. Mr. Regin received his Masters of Accountancy and Financial Management and Bachelors of Accountancy from the University of San Diego.

Margy is the founder and CEO of Akrete, a national consulting firm that articulates and amplifies thought leadership for companies in the real estate, cannabis, finance and professional services industries. With 27 years’ experience in real estate and 5 years in cannabis, she and her 25-member team have advised some of both industries’ most admired companies from JLL and Hines to MGO CPAs and Cannabis Facility Construction. Margy is committed to expanding economic opportunity for all; to do so she serves as Vice Chairman of the Board of Directors of SBA lender SomerCor, serves on the executive committee of the IMEC Board of Directors, and is a member of many industry associations such as the Urban Land Institute, Commercial Real Estate Executive Women, National Cannabis Industry Association, the Chicago Cannabis Council and the National Association of Women Business Owners.

Mr. Coniglio is NewLake Capital Partner's President, Chief Executive Officer and a member of its board of directors. He co-founded NewLake in 2019 and served as its Chief Executive Officer until the merger with GreenAcreage in March 2021. Prior to co-founding NewLake, Mr. Coniglio was the Chief Executive Officer of Primary Capital Mortgage (PCM), a residential mortgage company. Prior to PCM, he was a Managing Director at JPMorgan, leading various businesses, including a start-up platform, to leadership positions and helping grow business line profitability exponentially. During his 14 years at JPMorgan, Mr. Coniglio was named by Dealmaker Magazine as “Top 40 under 40 on Wall Street” and led complex transactions, such as the financial-crisis restructurings for GMAC and Chrysler Financial, as well as AmeriCredit’s $3.5 billion sale to General Motors. Mr. Coniglio has led numerous initial public offerings for REITs and corporations, including MasterCard’s $5.3 billion initial public offering. With more than 30 years of experience, Mr. Coniglio is a proven executive possessing a unique mix of skills that have allowed him to be highly successful in the context of a Fortune 100 company as well as a start-up. Mr. Coniglio is an experienced NYSE board member, serving on the Audit Committee and Special Committee of Atlas Resource Partners as an independent director. In addition, Mr. Coniglio serves on the board of St. Mary’s Hospital for Children, the largest post-acute care pediatric facility in the tri-state area, as chair of the IT & Cybersecurity Committee and member of the Audit Committee. He was a recipient of United Hospital Fund’s 2018 Distinguished Trustee Award. Mr. Coniglio also serves as an Advisory Board Member, Speaker, Volunteer and Coach. Mr. Coniglio received a B.S. in Accounting and Finance from the State University of New York, College at Oneonta. Mr. Coniglio was a Certified Public Accountant during his tenure at Price Waterhouse, LLP.

Wendy Berger is CEO and Founder of WBS Equities, LLC. WBS Equities is a real estate development firm which specializes in ground-up construction, renovation, development, sale lease back transactions and acquisition of industrial buildings for food and beverage manufacturers and distributors. Wendy is also an active investor across multiple real estate asset classes including retail, multi-family, senior housing and self-storage. Over the last 28 years she has been involved in the real estate business as a developer, property manager, broker and principally as an owner-investor. Wendy began her career at American National Bank and Trust Company of Chicago (a subsidiary of First Chicago, now JP Morgan Chase) in Commercial Lending. Wendy spent several years as a principal with Berger Realty Group, an 80-year- old family owned Real Estate business where she focused on residential and industrial property management and development. She was responsible for managing 3,000 apartment units, 200,000 square feet of commercial space and 250,000 square feet of industrial space. Aside from her experience in the real estate field, Wendy spent 10 years working with ultra-high growth technology startups. Wendy was employee number 10 at Orbitz, the Travel web site founded in 2000 by American, Continental, Delta, Northwest and United Airlines. Wendy was Director of the Enterprise Planning at Orbitz and focused on strategic planning. Prior to Orbitz, Wendy co-founded and was COO of Neoglyphics Media Corporation, one of the country’s first web site development firms. Neoglyphics grew from a small start-up to a corporation with a staff of more than 150 employees before it was sold in March 1998 for $65 million. Wendy earned her MBA in Finance and Real Estate from Northwestern University’s Kellogg School of Business. She received a B.S., cum laude, in Finance and Marketing from Syracuse University. In her spare time Wendy is an avid triathlete and runner, having completed 31 Olympic Distance triathlons and six half-marathons. Wendy serves on the Board of directors of the Chicago Public Library Foundation (2016 – present), the Board of directors of the Jewish Federation/Jewish United Fund of Chicago (2001 – 2007, and 2009 – present). Wendy has volunteered for TimeLine Theater, The Marwen Foundation, Chicago Run and the Uptown Cafe. Wendy served until 2004 as Vice-President and Membership Chair at The Standard Club of Chicago and as a member of the Board of Directors (1994 – 2004). Wendy is also a member of the Economic Club of Chicago and served as the chair of the Real Estate Membership Committee. Wendy served two years on the Board of Directors of TEDxMidwest. Wendy co-founded Illinois Women in Cannabis in 2014. Wendy is an active mentor, a role she takes very seriously, usually mentoring 4 – 5 young women at any given time. Most recently, Wendy is proud to now call herself a TED speaker, her talk is available on the TED web site.

Mr. Smith has 22 years of horticultural experience, 15 years owning and operating businesses, and 2 years of international business experience in Kyrgyzstan Central Asia. Working in the specialty cut flower market and running indoor gardens early in his career helped him to understand complex growing systems and production protocols while developing his master gardening skills. Some of his accomplishments include assisting in the identification of the Hemp Russet Mite within the Colorado medical cannabis market and working with SKUNK magazine to enlighten and educate the industry. Additional articles in SKUNK magazine highlighted his use of the True Living Organics (TLO)cultivation methodology in a regulated commercial market. He has featured articles in DOPE magazine and Sensi Magazine and he leads a monthly webinar on Cannabis Tech where he features guest speakers in the cannabis industry. Additionally, he has been a speaker and a panel expert at numerous industry events. To date Mr. Smith, along with American Cannabis Company, Inc. has designed and built over one million square feet of cultivation space, with another 250,000 square feet under construction. Mr. Smith’s career path has positioned him to play an integral role in helping both individual companies to succeed as well as aiding the emerging cannabis industry to prosper as a whole.

John Gaines, a Director in Newmark’s Chicago office, specializes in the tenant representation, landlord representation and business development of new clients in the Greater Chicagoland and Midwest region. John works with clients in a wide variety of industries, utilizing strategic planning to optimally meet their needs. He is responsible for performing market research, financial and demographic analyses and for executing activities that support a variety of transaction requirements, including relocations, renewals/renegotiations and dispositions. John, who joined Newmark in 2007, is experienced in working with various MSO’s (both public and private), throughout North America. He focuses on tenant representation, site selection/acquisition, demographic analysis/ geographic information systems, zoning compliance, and lease negotiations. John has been successful in assisting licensees with identifying, negotiating and opening cultivation, dispensaries, manufacturing, testing facilities and office headquarters including facilitating refinancing of debt with approved lenders. Education John earned a Bachelor of Arts degree in psychology from Southern Methodist University.

Patrick joined ARCO/Murray in 2010 and has provided operational leadership since 2015, when he helped start ARCO's Dallas office. He has been integral in building teams within new niches, providing successful management and leadership for over 200 projects across ARCO's major verticals, including tenant improvements, heavy processing, entertainment, industrial, self-storage, and controlled environments. In addition to his executive oversight, Patrick provides coaching and mentorship to high-performing project managers, focused on helping them grow into the next generation of ARCO leaders.

Laurie Parfitt is an accomplished executive, leader & coach who inspires companies with her vision for what's possible and her ability to execute and drive results. She has over two decades of driving innovation & execution across multiple functional areas within companies from start-up to Fortune 500. Laurie has honed her skills at organizations such as Kraft Foods, Beam Suntory, Topco Associates, Mizkan & Mission Dispensaries. Through her company, LKP Impact Consulting, Laurie works with cannabis and consumer products companies on marketing leadership, brand strategy/design, consumer insights and commercial go-to-market strategy. Parfitt’s background includes experience in large-scale, integrated cross-channel marketing and experience campaigns, including a background in traditional marketing, category development and sales strategy in an omni-channel environment. Parfitt served as the Vice President of Customer Engagement and Marketing for Mission Dispensaries, which owned ten retail locations in six states. In that role, she oversaw consumer experience and marketing/brand strategies for the booming cannabis dispensary operator, as well as developed the concept of joint business planning, which includes strategic sourcing, assortment optimization and activation. In addition, Laurie is a recognized speaker at Cannabis Conference, Cannabis Beverage Expo, Illinois Women in Cannabis and The Hatchery.

Erik Murray is the Chairman and Managing Partner of Lafayette, CA based Oak Funds and Oak Impact Group, among California’s leading cannabis real estate developers, owners, and managers. With a keen understanding of social equity and a focus on operating at the intersection of prime commercial real estate and positive social impact, since 2016, Murray and his team at Oak have successfully acquired and developed over a dozen cannabis properties valued at nearly $200M. Every project in Oak’s portfolio has a social equity ownership and/or incubation component, and Murray is proud to be at the forefront of impact investing in cannabis by proving that outsized returns for investors and positive impacts to communities harmed by the war on drugs are not mutually exclusive. The first exits from the portfolio already delivered a 2.5x multiple and a 140% IRR to investors, and Oak is excited to continue expanding the platform in 2022. Murray volunteers on the Boards of the Last Prisoner Project and Union Square Alliance, and is a member of the Society of Industrial and Office Realtors (SIOR), a Certified Commercial Investment Member (CCIM), a Senior Alpine Instructor in the National Ski Patrol, and resides in the San Francisco Bay Area.

Richard serves as Chief Executive Officer of Subversive Real Estate Acquisition REIT LP (NEO: SVX) and Inception REIT Inc., both cannabis focused real estate investment vehicles. Previously, Richard served as the Chief Financial Officer of SBE (SLS Hotels), a global hospitality company where he, among other responsibilities, focused on corporate and asset level transactions. Prior to joining SBE in 2014, Richard was a Director at Colony Capital, a global real estate private equity firm, where he focused on executing and managing over $9 billion of private equity investments primarily in the gaming, hospitality, and media industries. Prior to Colony, Richard worked in Wells Fargo’s Real Estate Merchant Banking division. Richard holds a B.S. in Business Administration from the University of Southern California.

Solomon Hatch joined the Illinois Cannabis Regulation Oversight Office (CROO) as the Deputy Officer for Administration in February 2021. As Illinois’ lead cannabis regulatory office, the CROO coordinates among 13 state agencies to direct the regulation and taxation of Illinois' cannabis industry, while promoting effective policies to ensure diversity and equity. As Deputy for Administration, Solomon works closely with the CROO’s agency partners to align policies and procedures, ensure program continuity, and oversee a combined program budget of $47 million in the last fiscal year. Externally, Solomon has forged partnerships with workforce development organizations across Illinois to create pathways to the legal industry in communities hardest hit by the war on drugs. Before joining the CROO, Solomon acquired more than ten years of experience working at all levels of government, including the City of Chicago and Cook County. He earned his bachelors degree at Central Michigan University and his masters of public administration at Grand Valley State University.

Bruce Montgomery is a widely recognized and active contributor to Chicago’s Business, Technology and Cultural communities. He is the Founder and President of Montgomery & Company, a digital media, information and communications technology company. Bruce is also the Founder, executive producer and host of Technology Access Television, Chicago’s longest running weekly TV news show covering Technology and Innovation. In 2016 Bruce opened The Entrepreneurship Training Program (ETP) in Chicago’s Englewood community. This nationally recognized and innovative program provides Small Business Counseling, Business Development Workshops, Entrepreneurial Education, Access to Capital and Personal Credit & Money Management services free of charge to constituents on Chicago’s South Side and Citywide. The program is now known as The Entrepreneur Success Program (ESP) using an updated curriculum that graduated over 200+ program participants empowering many to live their dreams. Bruce is also the co-founder Energy Solutions LLC. an energy efficiency technology systems integration firm based in Chicago. Bruce has built a strong knowledge base in business development within the service industries through practical experience in the public and private sectors of education, government, economic development, construction, health care, professional services, broadband infrastructure, software development and digital media enterprises. Mr. Montgomery majored in marketing at Northwestern University in Evanston, IL and attended Amos Tuck Graduate School of Business at Dartmouth College in Hanover, NH.

Chris Atkinson joined Redmond in 2021 as Project Executive for the firm’s Cannabis Group, a specialized team of cannabis and construction industry experts dedicated to Redmond’s growing portfolio of cannabis projects. Chris brings deep expertise in cannabis operations, facility construction, and stakeholder management. Her experience includes scaling cannabis companies from licensure to operational status while also managing the construction of more than 300,000 SF of cultivation facilities and dispensaries across national markets. Since joining Redmond, Chris has continued to position herself as a thought leader, advocate, and role model. In the last year, she has been part of the Illinois Women in Cannabis inaugural mentorship program, served on Olive Harvey’s Cannabis Advisory Board, and participated in outreach/programming related to public policy and fair and equal access to the cannabis industry.

Akshita Singh, an associate in Dickinson Wright’s Chicago office, focuses her practice on corporate law. Previously, she was industry group coordinator for the Cannabis group in the Chicago office of a large international law firm. She has also served as a legal intern with a local cannabis and medical marijuana company, assisting in state applications for medical and recreational cannabis for dispensaries, processing, and cultivation licenses, as well as performing compliance and regulation research for both medical and recreational cannabis in various states.

Andy Poticha has 30 years of experience as a principal of the Northbrook based design/build firm, Mosaic Construction. He is trained as an architect graduation from the University of Illinois and having executed projects, of both small and large scale, in residential, commercial, multifamily, retail, office, and cannabis spaces. In 2014, Mr. Poticha founded Cannabis Facility Construction (CFC), a division of Mosaic Construction, which is a national, industry leader in full-service cannabis facility design-build who have built and are in-process of work on over 75 cultivation facilities, processing centers, and dispensary projects in 12 states

Kevin Schultz specializes in tenant representation and business development across North America. Kevin joined Newmark’s Chicago office in 2015 and brings an array of experience and expertise in finance, business ethics, lease negotiations and exceptional customer service. Previously, Kevin worked in Newmark’s Retail Capital Markets group, where he guided private and institutional owners in the valuation and disposition of food-anchored shopping centers, neighborhood centers, power centers, enclosed regional malls and single-tenant net leased assets throughout the country. Kevin strives to strengthen the representation of his clients across North America, working hand-in-hand with clients/licensees to develop and implement strategic growth programs, resulting in site selection/acquisition and disposition of retail, office, industrial properties, as well as sale-leaseback transactions. Kevin is experienced in zoning compliance and municipal regulations, identifying, negotiating and opening cultivation, dispensaries, manufacturing, testing facilities and office headquarters including facilitating the refinancing of debt with approved lenders. Education Kevin earned a Bachelor of Arts degree in economics with a business cognate from Michigan State University in East Lansing, Michigan.

David Scott is a Senior Vice President and Director of Professional Services for Epstein, a Chicago-based global design, engineering and construction company. Epstein, which recently celebrated its 100th Anniversary, is a leading Design-Build firm in the Cannabis industry providing strategic planning, programming, architecture, engineering and construction services for cultivation, processing and manufacturing facilities across the United States. David, who has over 25 years of design experience, leads Epstein’s business development efforts in the Cannabis industry and strategically collaborates with those clients on their projects from conception to completion. David takes a hands-on approach with Epstein’s cannabis clients serving as a day-to-day contact and project executive. In this role, David helps clients navigate zoning/permitting issues, evaluate proposed sites, assess buildings, lead conceptual design/planning efforts and coordinate specialty consultants, vendors and equipment contractors with Epstein’s full-service Design-Build team. Lastly, David is a licensed architect and a member of the American Institute of Architects.

Kristy Young began her career 10 years ago at CohnReznick. Kristy specialized in audits of affordable housing and commercial real estate. Moving from public accounting to corporate accounting, Kristy was the Assistant Controller at Norkol Converting Corporation and Norkol Packaging. While there, she was a key member in the implementation of a new ERP system, restructured KPI reporting, and developed financial and operational processes for a new start-up business in the cannabis space. Kristy re-joined CohnReznick in 2021 as an Assurance Manager. Kristy specializes in the manufacturing and distribution and commercial real estate industries. Kristy has extensive technical and practical knowledge of Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), and Generally Accepted Government Auditing Standards (GAGAS). Kristy is a Certified Public Accountant licensed in the State of Illinois. She earned a Bachelor of Science in Accounting degree from Eastern Illinois University in 2011. Kristy has been an active board member of IgniteHope, a charitable organization, since 2017.