v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Investment in real estate    
Land $ 23,288,811 $ 21,996,902
Building and site improvements 67,647,250 71,621,499
Acquired tenant improvements 2,384,076 2,072,205
Acquired lease intangible assets 10,504,740 10,571,331
Less: accumulated depreciation and amortization (12,462,091) (8,855,332)
Net real estate investments 91,362,786 97,406,605
Cash and cash equivalents 612,939 3,117,446
Restricted cash 34,500 34,500
Deferred rent asset 331,837 1,106,191
Prepaid expenses 140,528 139,941
Accounts receivable 48,118 241,166
Escrow deposit and other assets 1,233,123 493,393
Held for sale assets 6,732,001 0
Right of use asset, net 6,067,958 6,152,174
Total Assets 106,563,790 108,691,416
Liabilities    
Accounts payable 171,262 406,772
Accrued expenses 1,127,896 688,146
Accrued expense - related party 683,347 683,347
Acquired lease intangible liabilities, net 1,036,274 1,016,260
Insurance payable 40,835 34,966
Deferred rent liability 176,017 260,942
Lease liability 6,464,901 6,415,041
Other payable - related party 0 1,809,840
Loan payable - related party 5,500,000 5,500,000
Mortgage loans, net of unamortized debt discount of $1,103,336 and $1,326,362 at December 31, 2024 and December 31, 2023, respectively, and debt issuance costs 58,340,234 56,817,310
Derivative liabilities 169,685 537,424
Total liabilities 73,710,451 74,170,048
Redeemable Non-Controlling Interests 26,664,545 18,812,423
Preferred Stock - Series A Redeemable Preferred stock, net,    
$0.01 par value, 2,400,000 shares authorized, no shares issued or outstanding as of December 31, 2024 and 2,400,000 shares issued and outstanding at December 31, 2023 with liquidation preferences of $5 per share 0 11,637,616
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 26,207
Additional paid-in capital 29,019,047 18,472,049
Accumulated deficit (23,277,545) (14,833,058)
Total Generation Income Properties, Inc. stockholders' equity 5,795,933 3,665,198
Non-Controlling Interest 392,861 406,131
Total equity 6,188,794 4,071,329
Total Liabilities and Equity $ 106,563,790 $ 108,691,416

Source

PDF HTML 10-K Filing
ZIP XLS XBRL