GIPR closes $5.5M acquisition of Best Buy-leased retail asset in Ames, Iowa

GENERATION INCOME PROPERTIES, INC.

Acquired 30,465 sq ft retail property in Ames, IA for $5.5M; leased to Best Buy (BBB+) through 2030 with renewal options.
Financed with $3.08M preferred equity (8% cum., 6.5% current) and $2.495M Valley National Bank loan (6.29% swap, 5-year term).
Modified existing Norfolk loan with Bayport Credit Union: maturity extended to Aug 2029, rate 6.15%.
CEO Sobelman's amended employment: base salary $200K, increases tied to asset milestones; annual bonus 35%; stock grants.

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