Generation Income Properties Announces Closing of $5.5 Million Retail Asset [Yahoo! Finance]
Generation Income Properties Inc. (GIPR)
Company Research
Source: Yahoo! Finance
acquisition of a 30,465 square foot retail building located in Ames, Iowa. The purchase price for the asset was $5.5 million, excluding transaction costs. The building is currently occupied by Best Buy, a reputable tenant with an investment-grade credit rating of BBB+ by Standard & Poor's. The existing lease agreement has approximately 6 years remaining, providing stable long-term income. The tenant has the option to extend the lease for two consecutive periods of 5 years each, ensuring potential for continued revenue generation. The annualized base rent from the lease stands at approximately $405,470, contributing to GIPR's rental income stream. GIPR financed the acquisition using a combination of approximately 55% cash and 45% debt, demonstrating a balanced approach to capital allocation. This strategic acquisition aligns with GIPR's objective to expand its portfolio with high-quality, income-generating assets. The addition of another investment-grade asset underscores GIPR's disc
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GIPR
News
- Generation Income Properties Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags [Yahoo! Finance]Yahoo! Finance
- Generation Income Properties Announces Third Quarter 2024 Financial and Operating Results [Yahoo! Finance]Yahoo! Finance
- Generation Income Properties Announces Third Quarter 2024 Financial and Operating ResultsAccesswire
- Generation Income Properties Announces Closing of $5.5 Million Retail AssetAccesswire
GIPR
Sec Filings
- 11/21/24 - Form 4
- 11/15/24 - Form 8-K
- 11/14/24 - Form 10-Q
- GIPR's page on the SEC website