Generation Income Properties modifies $7.18M loan on Norfolk office; maturity extended to 2029, rate 6.15%

GENERATION INCOME PROPERTIES, INC.

Outstanding principal $7,180,362.80; maturity extended from Sept 2024 to Aug 30, 2029.
Interest rate increased from 4.25% to 6.15% per annum.
Monthly payments of ~$52,079.73 (P&I) starting Sept 30, 2024, with balloon at maturity.
Loan secured by 2510 Walmer Ave, Norfolk, VA; guaranties confirmed by CEO and corporate entities.

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