v3.25.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Investment in real estate    
Land $ 25,689,428 $ 23,288,811
Building and site improvements 72,147,330 67,647,250
Acquired tenant improvements 2,605,429 2,384,076
Acquired lease intangible assets 11,416,179 10,504,740
Less: accumulated depreciation and amortization (13,374,019) (12,462,091)
Net real estate investments 98,484,347 91,362,786
Cash and cash equivalents 630,557 612,939
Restricted cash 34,500 34,500
Deferred rent asset 373,344 331,837
Prepaid expenses 111,087 140,528
Accounts receivable 176,761 48,118
Escrow deposit and other assets 1,017,514 1,233,123
Held for sale assets 9,805,718 6,732,001
Right of use asset, net 6,048,033 6,067,958
Total Assets 116,681,861 106,563,790
Liabilities    
Accounts payable 641,602 171,262
Accrued expenses 1,493,285 1,127,896
Accrued expense - related party 798,036 683,347
Acquired lease intangible liabilities, net 1,537,734 1,036,274
Insurance payable 0 40,835
Deferred rent liability 335,675 176,017
Lease liability, net 6,477,460 6,464,901
Loan payable - related party 5,500,000 5,500,000
Mortgage loans, net of unamortized debt discount of $1,569,096 and $1,103,336 at March 31, 2025 and December 31, 2024, respectively, and debt issuance costs 64,614,931 58,340,234
Derivative liabilities 423,753 169,685
Total liabilities 81,822,476 73,710,451
Redeemable Non-Controlling Interests 31,402,450 26,664,545
Stockholders' Equity    
Common stock, $0.01 par value, 100,000,000 shares authorized; 5,443,188 and 2,620,707 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively 54,431 54,431
Additional paid-in capital 29,019,047 29,019,047
Accumulated deficit (26,009,404) (23,277,545)
Total Generation Income Properties, Inc. stockholders' equity 3,064,074 5,795,933
Non-Controlling Interest 392,861 392,861
Total equity 3,456,935 6,188,794
Total Liabilities and Equity $ 116,681,861 $ 106,563,790

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