Generation Income Properties Announces Expansion of Portfolio With Closing of $4.5 Million Acquisition

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Sep 29, 2021

TAMPA, FL / ACCESSWIRE / September 28, 2021 / Generation Income Properties, Inc. (NASDAQ:GIPRU) ("GIP" or the "Company") announced the closing of a 15,288 SF single-tenant retail asset in Rockford, Illinois for total consideration of approximately $4.5 million on August 13, 2021. The building was purchased jointly with a tenants-in-common partner who contributed $1.2 million, $2.7 million in bank financing and approximately $600 thousand from a joint venture partner.