Business
GIPR Announces Sale of Two Properties and Full Repayment of CMBS Loan
TAMPA, FL / ACCESS Newswire / June 4, 2025 / Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIPR" or the "Company"), today announced the successful sale
About this update from Generation Income Properties Inc.
[{"type":"text","content":"TAMPA, FL / ACCESS Newswire / June 4, 2025 / Generation Income Properties, Inc. (NASDAQ:GIPR) (\"GIPR\" or the \"Company\"), today announced the successful sale of two assets-an Auburn University-occupied industrial building in Huntsville, Alabama, and a Starbucks-occupied retail property in Tampa, Florida-both of which were previously encumbered under a single commercial mortgage-backed securities (CMBS) loan. The sales resulted in the full repayment of the loan's approximately $10.5 million principal balance, leaving the Company's remaining CMBS-encumbered property-a 7-Eleven in Washington, D.C.-completely unleveraged.Said David Sobelman, CEO of GIPR, \"These transactions represent a meaningful milestone in GIPR's continued efforts to streamline its balance sheet and strategically enhance its portfolio. The Company navigated a complex payoff process and addressed a number of administrative and timing constraints that arose in connection with the CMBS loan, which was serviced by PNC Bank. With the CMBS loan now fully retired and these sales complete, GIPR is positioned to move forward with a cleaner capital structure and enhanced operational flexibility.\"About Generation Income PropertiesGeneration Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate investment trust formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial net lease properties located primarily in densely populated submarkets throughout the United States. Additional information about Generation Income Properties, Inc. can be found on the Company's corporate website: www.gipreit.com.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 \"believe,\" \"intend,\" \"expect,\" \"plan,\" \"should,\" \"will,\" \"would,\" and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These statements reflect the Company's expectations regarding future events and economic performance and are forward-looking in nature and, accordingly, are subject to risks and uncertainties. Such forward-looking statements include risks and uncertainties that could cause actual results t...