secwatch.observer — SEC 8-K summary
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Issuer:     GENERATION INCOME PROPERTIES, INC. (GIPR)
CIK:        0001651721
Form:       8-K/A
Filed at:   2024-11-08T23:59:59+00:00
Accession:  0000950170-24-124245
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Generation Income Properties completes $5.5M acquisition of Ames, IA retail property leased to Best Buy
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- Acquired 30,465 sq ft single-tenant retail property in Ames, Iowa on August 23, 2024 for ~$5.5M.
- Property is 100% triple-net leased to Best Buy through March 2030 with two five-year renewal options.
- Funded by $3.08M preferred equity from JCWC Funding and $2.495M debt from Valley National Bank.
- Property generated $535,419 rental revenue and $405,470 excess over certain expenses in FY2023.
- Pro forma financial statements filed to reflect acquisition as if effective January 1, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1651721/000095017024124245/0000950170-24-124245-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1651721/000095017024124245/gipr-20240823.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-124245

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