Generation Income Properties terminates $8.2M Kansas retail building acquisition

GENERATION INCOME PROPERTIES, INC.

Terminated Purchase & Sale Agreement with Harbor Terrace Limited Partnership for a 48,000 sq ft single-tenant retail building in Overland Park, KS.
Total consideration was $8.2 million; decision based on findings during the inspection period.
Right to terminate was exercised on April 3, 2023; no further details on specific findings disclosed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GENERATION INCOME PROPERTIES, INC. terminated Purchase and Sale Agreement with Harbor Terrace Limited Partnership valued at $8.2 million (effective 2023-04-03).

Action: termination
Agreement: asset purchase
Counterparty: Harbor Terrace Limited Partnership
Value: $8.2 million
Effective: 2023-04-03

Exact text from the filing

On April 3, 2023, Generation Income Properties L.P., the operating partnership of Generation Income Properties, Inc., elected to exercise its right to terminate the previously disclosed Purchase and Sale Agreement with Harbor Terrace Limited Partnership to acquire an approximately 48,000 square foot single-tenant retail building in Overland Park, KS for total consideration of $8.2 million per its findings during the inspection period.

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Source: SEC EDGAR

accession 0000950170-23-012224

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