Company: GIPRW
Filing Date: 2025-06-05
Form Type: 8-K
Source: 0000950170-25-081765
Chunk: 3

Company: GENERATION INCOME PROPERTIES, INC.
Filing Date: 2025-06-05
Form: 8-K
Item: Item 2.03
Chunk 3
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 penalty at any time. The SRS Promissory Note relates to broker’s fees payable by the Company to SRS in connection with the sale of the Company’s Starbucks-occupied retail building located in Tampa, Florida, as further described under Item 2.01 above.

On May 29, 2025, the Company, through the Operating Partnership, entered into a loan transaction with David Sobelman, the Company’s Chief Executive Officer, for $610,000.00 to fund closing costs relating to the sale of the Company’s Auburn University-occupied industrial building located in Huntsville, Alabama and Starbucks-occupied retail building located in Tampa, Florida, as further described under Item 2.01 above. The loan is evidenced by a promissory note (the “ Sobelman Promissory Note”) payable to the David E. Sobelman Revocable Trust, under

Agreement dated September 5, 2007. The Sobelman Promissory Note provides that an amount equal to the aggregate unpaid principal amount of the loan, together with accrued but unpaid interest at an interest rate of 5.75% per annum, will be due on August 31, 2025.

The foregoing summaries of the terms and conditions of the Chase Promissory Note, the Guaranty, the SRS Promissory Note, and the Sobelman Promissory Note do not purport to be complete and are qualified in their entirety by reference to the full text of such agreements, which are attached as exhibits hereto and incorporated herein by reference.

[Item 7.01 Regulation FD Disclosure

On June 4, 2025, the Company issued a press release announcing that it has closed on the sale of two properties: its Auburn University-occupied industrial building in Huntsville, AL and its Starbucks-occupied retail building in Tampa, FL. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information in this Item 7.01 of this Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

  (b)      Pro Forma Financial Information. To the extent pro forma financial information is required to