David Sobelman was featured in the April 14th issue of Business Observer, discussing Generation Income Properties and upcoming milestones of the REIT.
David Sobelman literally wrote the book on buying and selling triple net lease properties.
First published in 2010 — a time when such deals were largely unknown — “The Little Book of Triple Net Lease Investing” with business partner Jonathan Hipp is today in its second edition, and has sold more than 8,000 copies.
Now, after more than a decade at Tampa’s Calkain Cos. raising awareness and brokering such deals — in which expenses like utilities or taxes are “netted” out of gross rents and paid by tenants rather than landlords — he’s again venturing out.
Generation Income Properties, which Sobelman founded in September 2015 to target “NNN” opportunities, could begin trading publicly later this year, if it reaches certain U.S. Securities and Exchange Commission milestones.
In January, GIP attracted its 100th investor, an important SEC hurdle for REITs that is a precursor to any initial public offering. This summer, it expects to close on its first acquisition, a 7-Eleven store on the ground floor of a new residential building being constructed in Washington, D.C.
And during the third quarter, the company hopes to raise up to $20 million and begin trading on the Over The Counter exchange.