Generation Income Properties Inc. · NASDAQ:GIPR
Generation Income Properties — Merger or Acquisition (August 2023)
13 slides from Generation Income Properties's merger presentation, Aug 14, 2023
Slide 1: GIPR Transaction Overview
GIPR Transaction Overview August 2023
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation may contain forward-looking statements and information relating to, among other things, Generation Income Properties, Inc. (“the Company”), its business plan and strategy, its properties and assets, and its industry. These forward-looking statements are
Slide 3: Executive Summary
Executive Summary Immediately accretive to cash flow and AFFO per share (on a pro forma basis for 12 months ended September 2024), and reduces leverage $42 million consideration: $30 million in cash $12 million of newly issued GIPR redeemable preferred stock GENERATION INCOME PROPERTIES, INC. ACQUIR
Slide 4: Transaction Overview
Transaction Overview | 4 Generation Income Properties, Inc. (GIPR) is acquired a portfolio of 13 net lease assets from Modiv, Inc. (MDV) GIPR acquired the portfolio for $42 million, funded by: $30 million cash $12 million of newly issued GIPR redeemable convertible preferred stock The high-quality p
Slide 5: Strategic Rationale
| 7 Strategic Rationale Increased total square feet of the portfolio by ~60% Improved company cash flow and AFFO per share (on a pro forma basis for 12 months ended September 2024) Percentage of investment grade tenancy or its equivalent increased to 72% Creates synergistic operational leverage Incr
Slide 6: GIPR Management Team
04 02 GIPR Management Team David Sobelman Chairman & Chief Executive Officer Emily Cusmano Chief of Staff Emily Hewland Director of Capital Markets | 5 Allison Davies Chief Financial Officer Beth Sedgwick Corporate Controller Robert Rohrlack III Acquisitions Manager John Cowart Corporate Chaplain Ma
Slide 7: GIPR Portfolio Acquisition
GIPR Portfolio Acquisition | 8 (1) Tenant or parent company is investment grade credit or equivalent AT A GLANCE 13 PROPERTIES 100% OCCUPANCY 76% INVESTMENT GRADE TENANT OR EQUIVALENT (1) ~202K SF TOTAL GROSS LEASABLE AREA (GLA) 5.6 Years WEIGHTED AVERAGE REMAINING LEASE TERM ~$20.27 ABR PSF
Slide 8: GIPR Portfolio Acquisition
GIPR Portfolio Acquisition | 9 PROPERTY TYPE LOCATION SQUARE FEET TENANT S&P CREDIT RATING(1) REMAINING LEASE TERM Annual Base Rent (“ABR”) ABR per SQ. FT. Retail Big Spring, TX 9,026 Dollar General Corp. BBB 7.1 $86,040 $9.53 Retail Castalia, OH 9,026 Dollar General Corp. BBB 11.9 $79,320 $8.79 Ret
Slide 9: Post Acquisition Footprint
Post Acquisition Footprint | 10 CA CO TX AL NC IL OH PA VA ME 2 AZ GA FL Huntsville Morrow Plant City Tampa Maitland Manteo Norfolk Thompsontown, PA East Wilton Litchfield Rockford Chicago Lakeside Castalia Mount Gilead Washington, DC San Antonio Big Spring Grand Junction Tucson Vacaville Bakersfiel
Slide 10: High Quality Portfolio
High Quality Portfolio | 11 Size of GIPR’s Portfolio (in sq. ft.) increased by ~60% Increase in Weighted Average Lease Term and Investment Grade Tenant Exposure of GIPR’s portfolio IN PLACE GIPR(1) TRANSACTION POST-TRANSACTION PORTFOLIO # of Operating Properties 13 13 26 Total Owned GLA 338K 202K 54
Slide 11: GIPR Takeaways and Company Outlook
GIPR Takeaways and Company Outlook | 12 Post-Transaction Portfolio Well-Poised to Grow and Achieve Meaningful Scale G&A SYNERGIES G&A expenses and asset management capabilities to become right-sized, spreading expenses out over a larger asset base ACCRETIVE TO AFFO INCREASED DIVERSIVIFICATION Immedi
Slide 12: Combined Metrics Relative to Comps
Combined Metrics Relative to Comps | 13 Investment Grade or Equivalent Tenant %* WEIGHTED AVERAGE REMAINING LEASE TERM (YEARS) PORTFOLIO *Tenant or parent company is investment grade credit or equivalent
Slide 13: Investor Relations
INVESTOR RELATIONS ir@gipreit.com (813) 448-1234
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