Deal Details
GIPR Acquires Property Portfolio from Modiv Industrial
Summary
Generation Income Properties, Inc. (NASDAQ: GIPR) (“GIPR” or the “Company”) has acquired a portfolio from Modiv Industrial, Inc. (NYSE: MDV) (“Modiv Industrial”). The property portfolio was sold for a total consideration of $42 million, consisting of $30 million cash and $12 million paid in shares of a newly issued series of preferred stock of GIPR designated as “Series A Redeemable Preferred Stock.”
Baird served as financial advisor to GIPR on this transaction.
About
Generation Income Properties, Inc. is an internally managed real estate investment trust focused on acquiring and managing income-producing retail, industrial and office properties net leased to high-quality tenants in densely populated submarkets throughout the United States. The Company is headquartered in Tampa, Florida.Modiv Industrial, Inc. is an internally managed REIT that acquires, owns, and manages a portfolio of single-tenant net-lease real estate. Modiv Industrial actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation’s supply chains. Driven by an investor-first focus, as of August 14, 2023, Modiv Industrial had a $614 million real estate portfolio (based on estimated fair value) comprised of 4.7 million square feet of aggregate leasable area. Modiv Industrial is headquartered in Reno, Nevada.
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- Date
- August 2023
- Company
- Generation Income Properties, Inc.
- Transaction
- M&A - Buyside
- Sectors
- Real Estate
- Verticals
-
Real Estate
- Target Geography
- North America
- Acquiror Geography
- North America
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