Company: GIPRW
Filing Date: 2025-06-05
Form Type: 8-K
Source: 0000950170-25-081765
Chunk: 1

Company: GENERATION INCOME PROPERTIES, INC.
Filing Date: 2025-06-05
Form: 8-K
Item: Item 2.01
Chunk 1
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Item 2.01 Completion of Acquisition or Disposition of Assets

On May 29, 2025, GIPFL 1300 S Dale Mabry, LLC, an indirect wholly owned subsidiary of the Generation Income Properties, Inc. (the “ Company”), completed the sale of its Starbucks-occupied retail building located in Tampa, Florida pursuant to a Purchase and Sale Agreement (the “ Florida Purchase and Sale Agreement”), entered into effective as of April 2, 2025, by and among GIPFL 1300 S Dale Mabry, LLC, as seller, and 6800 4th Street Holdings LLC, as purchaser, as amended effective May 2, 2025 and subsequently assigned by purchaser to 1300 Dale Mabry Holdings LLC, for a purchase price of $3,450,000, in cash, subject to customary pro-rations and adjustments.

On May 29, 2025, GIPAL JV 15091 SW Alabama 20, LLC, an indirect wholly owned subsidiary of the Company, completed the sale of its Auburn University-occupied industrial building located in Huntsville, Alabama pursuant to a Purchase and Sale Agreement (the “ Alabama Purchase and Sale Agreement’), entered into effective as of January 24, 2025, by and among GIPAL JV 15091 SW Alabama 20, LLC, as seller, and Titomic, USA, Inc., as purchaser, as amended effective April 7, 2025, May 9, 2025 and May 29, 2025, for a purchase price of $7,200,000, in cash, subject to customary pro-rations and adjustments.

The foregoing summaries of the terms and conditions of the Florida Purchase and Sale Agreement and the Alabama Purchase and Sale Agreement 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 2.03 Creation of a Direct Financial Obligations or an Obligation under an Off-Balance Sheet Arrangement of a Registrant