Generation Income Properties, Inc. announced that it expects to receive $1.5 million in funding
October 13, 2022
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Generation Income Properties, Inc. announced that it has entered into a loan transaction that is evidenced by a secured non-convertible promissory note for gross proceeds of $1.5 million on October 14, 2022. The transaction will include participation from new investor Brown Family Enterprises Inc. The secured non-convertible promissory note bears a fixed interest rate of 9%, simple interest. Interest is payable monthly.
The loan may be repaid without penalty at any time.
Generation Income Properties, Inc. is an internally managed real estate investment trust. The Company is focused on acquiring and managing income-producing retail, office and industrial properties net leased to high quality tenants in markets throughout the United States. Its retail properties are located in Washington, D.C.; Tampa, FL; Tucson, AZ; San Antonio, TX; Bakersfield, CA; Big Spring, TX; Castalia, OH; Lakeside, OH; Litchfield, ME; Mount Gilead, OH; Thompsontown, PA, and others. Its office properties are located in Norfolk, VA; Manteo, NC; Plant City, FL; Maitland, FL; Vacaville, CA, and others. Its medical retail property is located in Chicago, IL. Its industrial property is located in Huntsville, AL. Its subsidiaries include Generation Income Properties, LP; GIP TRS Inc; GIP REIT OP Limited LLC; GIP DB SPE, LLC; GIPVB SPE, LLC; GIPVA 2510 WALMER AVE, LLC; GIPVA 130 CORPORATE BLVD, LLC; GIPNC 201 Etheridge Road LLC, and others.
GENERATION INCOME PROPERTIES, INC. 
