---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-002351"
form_type: "8-K"
ticker: "GIPR"
cik: "0001651721"
company_name: "GENERATION INCOME PROPERTIES, INC."
filed_at: "2023-02-09T23:59:59+00:00"
generated_at: "2026-06-19T20:29:17.758924+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Generation Income Properties raises $3M via preferred units in Virginia SPEs, amends redemption terms

## Summary
- Issued 180k Class A Preferred Units at $10 each for $1.8M in GIPVA 2510 and 120k units for $1.2M in GIPVA 130 to Brown Family Enterprises.
- Preferred units carry 7% annual return, payable monthly, and share in ~16% of equity; redeemable after 2 years at unreturned capital plus accrued return.
- Proceeds ($3M) used to fund $2.48M in redemption obligations to two existing OP members and for general corporate expenses.
- Also entered agreement with LMB Owenton I to delay redemption of its common units to January 2025, reduce redemption price to $7.15/unit, and issued 44,228 additional common units.

## SEC filing metadata
- accession: 0000950170-23-002351
- form_type: 8-K
- ticker: GIPR
- cik: 0001651721
- company_name: GENERATION INCOME PROPERTIES, INC.
- filed_at: 2023-02-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1651721/000095017023002351/0000950170-23-002351-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1651721/000095017023002351/gipr-20230207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-002351
- JSON: https://secwatch.observer/filing/0000950170-23-002351.json
- Plain text: https://secwatch.observer/filing/0000950170-23-002351.txt

## Key facts
- Material Agreements
  GENERATION INCOME PROPERTIES, INC. entered into Amended and Restated Limited Liability Company Agreements for GIPVA 2510 Walmer Ave, LLC and GIPVA 130 Corporate Blvd, LLC with Brown Family Enterprises, LLC valued at Issuance of 180,000 Class A Preferred Units at $10.00 per unit ($1,800,000) and 120,000 Class A Pref (effective 2023-02-08).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Brown Family Enterprises, LLC
  - Value: Issuance of 180,000 Class A Preferred Units at $10.00 per unit ($1,800,000) and 120,000 Class A Pref
  - Effective: 2023-02-08
  source text: On February 8, 2023, Generation Income Properties L.P. (the “Operating Partnership”), the operating partnership of Generation Income Properties, Inc. (the “Company”), entered into new Amended and Restated Limited Liability Company Agreements for each of GIPVA 2510 Walmer Ave, LLC ("GIPVA 2510") and GIPVA 130 Corporate Blvd, LLC ("GIPVA 130") in which the Operating Partnership, as the sole member of GIPVA 2510 and GIPVA 130, admitted a new member, Brown Family Enterprises, LLC (the "Purchaser"), through the issuance to Purchaser of membership interests in the form of Class A Preferred Units of GIPVA 2510 and GIPVA 130.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1651721/000095017023002351/0000950170-23-002351-index.htm
- Material Agreements
  GENERATION INCOME PROPERTIES, INC. entered into Unit Purchase Agreements for GIPVA 2510 Walmer Ave, LLC and GIPVA 130 Corporate Blvd, LLC with Brown Family Enterprises, LLC valued at Issuance to Purchaser of 180,000 Class A Preferred Units at $10.00 per unit for $1,800,000 and 120,0 (effective 2023-02-08).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Brown Family Enterprises, LLC
  - Value: Issuance to Purchaser of 180,000 Class A Preferred Units at $10.00 per unit for $1,800,000 and 120,0
  - Effective: 2023-02-08
  source text: Also on February 8, 2023, both of the Virginia SPEs and the Purchaser entered into Unit Purchase Agreements in which GIPVA 2510 issued and sold to the Purchaser 180,000 Class A Preferred Units at a price of $10.00 per unit for an aggregate price of $1,800,000, and GIPVA 130 issued and sold to the Purchaser 120,000 Class A Preferred units at a price of $10.00 per unit for an aggregate price of $1,200,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1651721/000095017023002351/0000950170-23-002351-index.htm
- Material Agreements
  GENERATION INCOME PROPERTIES, INC. amended Unit Issuance Agreement and Amendment to Contribution and Subscription Agreement with LMB Owenton I LLC valued at Delay of Contributor's redemption right until third anniversary (January 14, 2025) at reduced price (effective 2023-02-07).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: LMB Owenton I LLC
  - Value: Delay of Contributor's redemption right until third anniversary (January 14, 2025) at reduced price
  - Effective: 2023-02-07
  source text: O n February 7, 2023, the Operating Partnership entered into a Unit Issuance Agreement and Amendment to Contribution and Subscription Agreement (the "LMB Agreement") with LMB Owenton I LLC, the contributor of the Company’s Tampa Starbucks property located at 10002 N Dale Mabry (the “Contributor”), in which GIPLP and the Contributor agreed to delay the Contributor’s right to require the redemption of the Contributor’s common units in the Operating Partnership until the third anniversary of the closing of the contribution of the Tampa Starbucks property, January 14 th 2025, and for a reduced redemption price of $7.15 per common unit.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1651721/000095017023002351/0000950170-23-002351-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.