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Generation Income Properties Announces Commitment For $25 Million Master Credit Facility With American Momentum Bank
TAMPA, FL / ACCESSWIRE / October 27, 2021 / Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIP" or the "Company") announced the signing of a commitment
About this update from Generation Income Properties Inc.
[{"type":"text","content":"TAMPA, FL / ACCESSWIRE / October 27, 2021 / Generation Income Properties, Inc. (NASDAQ:GIPR) (\"GIP\" or the \"Company\") announced the signing of a commitment letter for a master credit facility from American Momentum Bank in the amount of $25 million. The facility will be utilized to fund the acquisition of individual income-producing real estate properties.\"This facility demonstrates the strong relationship between Generation Income Properties and American Momentum Bank, and our continued faith in GIP's growth and unwavering ability to source credit-worthy, stable properties,\" said Porter Smith, Tampa Bay Market President of American Momentum Bank.David Sobelman, President and CEO of GIP noted, \"We are pleased to announce the commitment letter for a master credit facility from American Momentum Bank for $25 million, which emphasizes our long-standing relationship with them as well as their confidence in our growth. This commitment will allow us to perform quickly on the acquisition of new assets and meaningfully grow our portfolio for our shareholders\".About Generation Income PropertiesGeneration Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate corporation formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial net lease properties located primarily in major United States cities. The Company intends to elect to be taxed as a real estate investment trust. Additional information about Generation Income Properties, Inc. can be found at the Company's corporate website: www.gipreit.com.About American Momentum BankAmerican Momentum Bank, a Texas-chartered banking association with total assets of $2.7 billion as of September 30, 2021, provides comprehensive products and services for businesses and individuals. American Momentum Bank has 18 full-service banking centers in Texas and nine full-service banking centers in Florida. American Momentum Bank's strong capitalization, superior asset quality and experienced management teams position it as one of the premier banks in each state. Visit www.americanmomentum.bank to learn more.Forward-Looking Statements:This press release, whether or not expressly stated, may contain \"forward-looking\" statements as defined in the Private Securities Litigation Reform Act of 1995. The words \"believ...