Generation Income Properties, Inc. (OTCQB: GIPR) announced the acquisition of an approximately 5,800-square-foot, single-tenant office building in North Carolina occupied by a Federal law enforcement agency of the United States Government. The transaction was a forward commitment sale for a total consideration of approximately $1.7 million.

GIP funded the transaction with approximately $1.27 million of debt from American Momentum Bank and approximately $500,000 of preferred equity provided from a Joint Venture Partner. The United States Government has a credit rating of AA+ from Standard & Poor’s and the tenant has approximately 8 years remaining on the primary lease term for the property.

David Sobelman, Chief Executive Officer of GIP, noted, “This transaction reflects GIPs continued ability to identify assets occupied by strong tenants. And, for this one in particular, GIP was able to commit to the asset prior to rent commencement allowing the developer a planned exit for their project. In addition, the use of the JV program for this acquisition gave GIP the ability to grow the investment-grade tenancy of the portfolio to approximately 80% and simultaneously provide the JV partner a market return.”

About Generation Income Properties:

Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate investment company formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial single-tenant properties located primarily in major United States cities, with an emphasis on the major coastal markets.

Additional information about Generation Income Properties, Inc. can be found at the Company’s corporate website: www.gipreit.com.