Generation Income Properties Announces Closing of $5.5 Million Retail Asset
Generation Income Properties (NASDAQ:GIPR) has acquired a 30,465 square foot retail building in Ames, Iowa for $5.5 million. The property is leased to Best Buy, an investment-grade tenant (BBB+ rating), with approximately 6 years remaining on the lease and two 5-year extension options. The annualized base rent is $405,470. GIPR financed the acquisition using 55% cash and 45% debt. This strategic move aligns with GIPR's goal of expanding its portfolio with high-quality, income-generating assets. CEO David Sobelman emphasized the company's commitment to disciplined investment strategies and shareholder value creation in a challenging market environment.
Generation Income Properties (NASDAQ:GIPR) ha acquisito un edificio commerciale di 30.465 piedi quadrati ad Ames, Iowa per 5,5 milioni di dollari. La proprietà è affittata a Best Buy, un inquilino di investimento (rating BBB+), con circa 6 anni rimanenti sul contratto di affitto e due opzioni di estensione di 5 anni. L'affitto base annualizzato è di 405.470 dollari. GIPR ha finanziato l'acquisizione utilizzando il 55% in contante e il 45% in debito. Questa mossa strategica è in linea con l'obiettivo di GIPR di espandere il proprio portafoglio con asset di alta qualità che generano reddito. Il CEO David Sobelman ha sottolineato l'impegno dell'azienda verso strategie di investimento disciplinate e creazione di valore per gli azionisti in un ambiente di mercato difficile.
Generation Income Properties (NASDAQ:GIPR) ha adquirido un edificio comercial de 30,465 pies cuadrados en Ames, Iowa por 5.5 millones de dólares. La propiedad está alquilada a Best Buy, un inquilino de grado de inversión (calificación BBB+), con aproximadamente 6 años restantes en el contrato de arrendamiento y dos opciones de extensión de 5 años. El alquiler base anualizado es de 405,470 dólares. GIPR financió la adquisición utilizando el 55% en efectivo y el 45% en deuda. Este movimiento estratégico se alinea con el objetivo de GIPR de expandir su portafolio con activos de alta calidad que generen ingresos. El CEO David Sobelman enfatizó el compromiso de la empresa con estrategias de inversión disciplinadas y la creación de valor para los accionistas en un entorno de mercado desafiante.
Generation Income Properties (NASDAQ:GIPR)는 아이오와주 에임스에 있는 30,465 평방피트의 소매 건물을 인수했습니다 및 550만 달러에 매입했습니다. 이 자산은 Best Buy에 임대되어 있으며, 투자 등급의 세입자(BBB+ 등급)가 있으며, 임대 계약에 남은 기간은 약 6년이고 5년 연장 옵션 2개가 있습니다. 연간 기본 임대료는 405,470 달러입니다. GIPR은 55% 현금과 45% 부채로 인수 자금을 조달했습니다. 이 전략적 결정은 GIPR이 고품질의 수익 창출 자산으로 포트폴리오를 확장하겠다는 목표와 일치합니다. CEO David Sobelman은 어려운 시장 환경에서 회사의 투자 전략과 주주 가치를 창출하기 위한 약속을 강조했습니다.
Generation Income Properties (NASDAQ:GIPR) a acquis un bâtiment commercial de 30 465 pieds carrés à Ames, Iowa pour 5,5 millions de dollars. Le bien est loué à Best Buy, un locataire de qualité d'investissement (note BBB+), avec environ 6 ans restants sur le bail et deux options de prolongation de 5 ans. Le loyer de base annualisé est de 405 470 dollars. GIPR a financé l'acquisition en utilisant 55 % de liquidités et 45 % de dettes. Ce mouvement stratégique est en accord avec l'objectif de GIPR d'élargir son portefeuille avec des actifs de haute qualité générant des revenus. Le PDG David Sobelman a souligné l'engagement de l'entreprise envers des stratégies d'investissement disciplinées et la création de valeur pour les actionnaires dans un environnement de marché difficile.
Generation Income Properties (NASDAQ:GIPR) hat ein Einzelhandelsgebäude mit einer Fläche von 30.465 Quadratfuß in Ames, Iowa für 5,5 Millionen Dollar erworben. Die Immobilie ist an Best Buy vermietet, einen Mietnehmer mit Investment-Grade-Rating (BBB+), mit noch etwa 6 Jahren Restlaufzeit im Mietvertrag und zwei Optionen zur Verlängerung um 5 Jahre. Die annualisierte Grundmiete beträgt 405.470 Dollar. GIPR finanzierte den Erwerb mit 55% Eigenkapital und 45% Fremdkapital. Dieser strategische Schritt steht im Einklang mit GIPRs Ziel, sein Portfolio mit hochwertigen, einkommensschaffenden Vermögenswerten zu erweitern. CEO David Sobelman betonte das Engagement des Unternehmens für disziplinierte Investitionsstrategien und die Schaffung von Aktionärswerten in einem herausfordernden Marktumfeld.
- Acquisition of a 30,465 sq ft retail building for $5.5 million
- Property leased to Best Buy, an investment-grade tenant (BBB+ rating)
- Lease has 6 years remaining with two 5-year extension options
- Annualized base rent of $405,470
- Balanced financing approach with 55% cash and 45% debt
- None.
TAMPA, FL / ACCESSWIRE / August 29, 2024 / Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIP" or the "Company") announced the strategic acquisition of a 30,465 square foot retail building located in Ames, Iowa. The purchase price for the asset was
GIPR financed the acquisition using a combination of approximately
David Sobelman, President and Chief Executive Officer of GIPR, commented on the significance of the acquisition: "In today's challenging market environment, we are pleased to have successfully acquired another investment-grade asset. This transaction exemplifies GIPR's commitment to disciplined investment strategies and our unwavering focus on shareholder value creation."
About Generation Income Properties
Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate investment trust formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial net lease properties located primarily in densely populated submarkets throughout the United States. Additional information about Generation Income Properties, Inc. can be found on the Company's corporate website: www.gipreit.com.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, relating to our monthly distribution. There can be no assurance that future distributions will be declared. The declaration of future monthly distributions is subject to approval of our Board of Directors each quarter after its review of our financial performance and cash needs. Declaration of future distributions is also subject to various risks and uncertainties, including: our cash flow and cash needs; compliance with applicable law; restrictions on the payment of distributions under existing or future financing arrangements; changes in tax laws relating to corporate distribution; the deterioration in our financial condition or results; and those risks, uncertainties, and other factors identified from time-to-time in our filings with the Securities and Exchange Commission.
Contact Information
Investor Relations
ir@gipreit.com
813-448-1234
SOURCE: Generation Income Properties
View the original press release on accesswire.com
FAQ
What property did Generation Income Properties (GIPR) acquire in August 2024?
Who is the tenant of the newly acquired GIPR property and what is their credit rating?
What is the remaining lease term and extension options for GIPR's new acquisition?
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