Generation Income Properties completes $11.2M UPREIT transaction

Generation Income Properties (GIPR) announced the completion of a three property UPREIT contribution transaction underscoring GIPR’s dedication to long-term investment strategies and value creation for its stakeholders. Under the terms of the contribution agreement for the transaction, the contributor contributed a portfolio of three high-quality retail properties leased to Tractor Supply Corporation, Dollar General, and a Zaxby’s restaurant, all located in core markets to support their operations, to GIPR’s operating partnership. In exchange, the Contributor received operating partnership units based on a value of $6.00 per unit. The assets contributed by LMB are expected to enhance GIPR’s portfolio through, increasing the weighted average lease term of the portfolio to 4.7 years, increasing the gross asset value of the portfolio to approximately $115MM and increasing GIPR’s portfolio percentage of retail properties to 65%. The transaction also reinforces GIPR’s ability to attract landlords that share the long-term growth vision that has been laid out by the Company’s Board of Directors and Management.