---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-101867"
form_type: "8-K"
ticker: "GIPR"
cik: "0001651721"
company_name: "GENERATION INCOME PROPERTIES, INC."
filed_at: "2024-08-29T23:59:59+00:00"
generated_at: "2026-05-31T06:59:49.809440+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-101867
- form_type: 8-K
- ticker: GIPR
- cik: 0001651721
- company_name: GENERATION INCOME PROPERTIES, INC.
- filed_at: 2024-08-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 5.02, 7.01, 9.01, 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1651721/000095017024101867/0000950170-24-101867-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1651721/000095017024101867/gipr-20240823.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-101867
- JSON: https://secwatch.observer/filing/0000950170-24-101867.json
- Plain text: https://secwatch.observer/filing/0000950170-24-101867.txt

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