GENERATION INCOME PROPERTIES, INC. (GIPR): M&A transaction — GIPR completes $11.2M UPREIT acquisition of three retail properties leased to Tractor Supply, Dollar General, Zaxby's

GENERATION INCOME PROPERTIES, INC.

Acquired three 100%-leased retail properties (Cleveland TN, Kernersville NC, Sanford FL) for ~$11.2M total consideration.
Consideration paid: ~698,465 OP Units valued at $6.00/unit ($4.2M) plus assumption of ~$7.0M in existing mortgage debt.
Properties are triple-net leased to Tractor Supply (BBB), Dollar General (BBB), and Zaxby's with lease expirations from 2035-2039.
Transaction increases portfolio gross asset value to ~$115MM and WALT to 4.7 years; retail exposure rises to 65%.
Issued OP Units under Section 4(a)(2) private placement; contributor also received tax protection agreement covering built-in gain.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

GENERATION INCOME PROPERTIES, INC. completed an acquisition involving LMB Lewiston, LLC, LMB Ft. Kent, LLC, LMB Auburn Hills I, LLC, and Lloyd M. Bernstein (closed 2025-02-06).

Action: acquisition
Counterparty: LMB Lewiston, LLC, LMB Ft. Kent, LLC, LMB Auburn Hills I, LLC, and Lloyd M. Bernstein
Closing: 2025-02-06

Exact text from the filing

On February 6, 2025, pursuant to the Contribution Agreement, the Company, through the Operating Partnership and its Affiliated Entities acquired the SPV Interests in the SPVs.

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GENERATION INCOME PROPERTIES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-25-016688

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