Subsidiary

State of Incorporation / Formation

Percentage of Ownership

Generation Income Properties, LP

Delaware

86.6%

GIP TRS Inc

Maryland

100%

GIP REIT OP Limited LLC

Delaware

100%

GIP DB SPE, LLC

Delaware

100%

GIPVB SPE, LLC

Delaware

100%

GIPDC 3707 14th St LLC

Delaware

100%

GIPFL 1300 S Dale Mabry LLC

Delaware

100%

GIPAL JV 15091 SW ALABAMA 20

Delaware

100%

GIPVA 2510 WALMER AVE, LLC

Delaware

100%

GIPVA 130 CORPORATE BLVD, LLC

Delaware

100%

GIPFL JV 1106 CLEARLAKE ROAD, LLC

Delaware

100%

GIPRI 332 Valley St LLC

Delaware

100%

GIPFL 508 S Howard Ave, LLC

Delaware

100%

GIPNC 201 Etheridge Road LLC

Delaware

100%

GIPFL 702 Tillman Place, LLC

Delaware

100%

GIPIL 525 S Perryville RD, LLC

Delaware

100%

GIPCO 585 24 ½ ROAD, LLC

Delaware

100%

GIP 3134 W 76TH STREET, LLC

Delaware

100%

GIPFL 10002 N DALE MABRY, LLC

Delaware

100%

GIPAZ 199 N PANTANO ROAD, LLC

Delaware

100%