GENERATION INCOME PROPERTIES ANNOUNCES EXPANSION OF PORTFOLIO WITH COMPLETE ACQUISITION OF 4.7 MILLION USD AN

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DGAP-News: Generation Income Properties
04.01.2022 / 10:30 PM
The issuer is solely responsible for the content of this announcement.

Generation Income Properties, Inc. (NASDAQ: GIPR) (‘GIP’ or the ‘Company’) announced on December 28th the closure of an approximately SF 30,000 retail building with a single tenant in Grand Junction, Colorado for a total price of approxthat, 2021. The building is occupied by Best Buy (NYSE: BBY), which currently has an investment grade credit rating of BBB on the Standard & Poor’s. There are approximately 5.5 years remaining for the current lease term of the building, with the option for the tenant to extend for one (1) period of five (5) years, and annualized base rental income of $ 353,000.

The company financed the acquisition with approximately 50% cash and 50% debt. “We are excited to add another credit-quality asset to our portfolio in a high-growth market,” said David Sobelman, President and Chief Executive Officer of GIP. “This transaction underscores our continued focus on acquisitions and expanding our portfolio with high quality. Tenants in the USA.’

About generation income properties

Generation Income Properties, Inc., headquartered in Tampa, Florida, is an internally managed real estate investment company established to direct and collaborate in real estate investments with an emphasis on retail, office and industrial net lease real estate primarily in the large United States Acquire and Own Cities. For more information about Generation Income Properties, Inc., please visit the company’s corporate website: www.gipreit.com.

Forward-Looking Statements

This press release, whether expressly stated or not, may contain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “intend,” “expect,” “plan,” “should”, “will”, “would” and similar expressions, and all statements that are not historical facts, are intended to identify forward-looking statements. These statements reflect the company’s expectations with respect to future events and economic performance and are forward-looking and, accordingly, are subject to risks and uncertainties. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, which in some cases are beyond the control of the company, which could have a material adverse effect on the company’s operations could, financial position and results of operations. These risks and uncertainties include our limited operating history, potential changes in the economy in general and the real estate market in particular, the COVID-19 pandemic, and other risks and uncertainties identified from time to time in our SEC filings, including those identified in our registration statement on Form S-11 (File No. 333-235707) available at www.sec.gov. The occurrence of these risks and uncertainties could have a material negative impact on the company’s business, financial and earnings position. For these reasons, among others, investors are cautioned not to place undue reliance on forward-looking statements in this press release. Any forward-looking statements made herein by us speak only as of the date on which they are made. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that occur after the date of this release, except as required by law.

Contact details

Generation income characteristics

Investor Relations

+1 813-448-1234

[email protected]

Company website

Homepage

News source: News Direct

04.01.2022 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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