Tampa, FL, June 10, 2020 – Generation Income Properties (GIP) Chief Executive Officer David Sobelman issued the following letter to shareholders:
Dear Fellow Shareholders:
It has always been our goal to provide regular and transparent updates. However, in light of current social uncertainty, it is my intention to provide more frequent communication for the foreseeable future.
We continue to be 100% occupied and have collected 100% of rent across our portfolio for 2020.
Overall, GIP is currently in a stable position. Our portfolio is performing as planned and we continue to take steps to grow the company.
I’d also like to highlight our three core values – Relational, Intelligent and Generational. These values serve as our foundation and have proved to be beneficial to shareholders and the Generation Income Properties (GIP) team alike.
Our asset manager, Confidant Asset Management, has been in communication with local representatives for each of our properties and reports back to GIP on a regular basis.
This process has not changed since we purchased the respective assets and provides us with the data needed to make sound and educated decisions.
We believe that smart and empowered teams build great companies. I have found that hiring the best people allows us to better navigate through uncertain times like we’re experiencing now. We continue to leverage our collective intelligence to improve our operations, management, and investment outlook.
Our perspective is generational, and we think about your grandchildren as potential owners of this company and its assets. When there is turbulence in the capital markets and overall economy, we stay focused on our long-term strategy.
Thank you for all you’ve done to help GIP succeed!
Chief Executive Officer
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 major United States cities, with an emphasis on the major coastal markets. We invest primarily in freestanding, single-tenant commercial retail, office and industrial properties.
Additional information about Generation Income Properties, Inc. can be found at the Company’s corporate website: www.gipreit.com.
This press release, whether or not expressly stated, may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. It reflects the company’s expectations regarding future events and economic performance and are forward-looking in nature and, accordingly, are subject to risks and uncertainties. Such forward-looking statements include risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements which are, in some cases, beyond the Company’s control which could have a material adverse effect on the company’s business, financial condition, and results of operations. Some of these risks and uncertainties are identified in the company’s most recent Annual Report on Form 1-K and its other filings with the SEC, which are available at www.sec.gov. The occurrence of any of these risks and uncertainties could have a material adverse effect on the company’s business, financial condition, and results of operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.