Exhibit 99.1

PRIOR PERFORMANCE TABLES

As used herein, the terms “we,” “our” and “us” refer to Generation Income Properties, Inc.

The following Prior Performance Tables (the “Tables”) provide information relating to GIP Fund 1, LLC (“GIP Fund 1”), the program sponsored by our President and Chairman of the Board, Mr. Sobelman, and his affiliates (our “sponsor”).

GIP Fund 1, a private real estate fund, had certain investment objectives similar to ours, including the acquisition and operation of commercial properties; the provision of stable cash flow available for distribution to investors; preservation and protection of capital; and the realization of capital appreciation in the event of an ultimate sale of any properties. GIP Fund 1 focused on single tenant properties essential to the business operations of the tenant; located in primary markets; leased to tenants with stable and/or improving credit quality; and subject to long-term leases with defined rental rate increases or with short-term leases with high-probability renewal and potential for increasing rent. GIP Fund 1 has not disposed of any properties to date. GIP Fund 1 engaged in a private offering in January 2013 to accredited investors only pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, and raised approximately $940,000 through the issuance of member units. GIP Fund 1 closed its round of financing in December of 2013 to acquire one real estate property. Using a combination of debt and cash consisting of 97% of the offering proceeds, GIP Fund 1 acquired one existing property in Tampa, Florida for a purchase price of approximately $1.6 million. GIP Fund 1 is no longer active in acquiring more properties.

Mr. Sobelman is responsible for the acquisition, operation, maintenance and resale of the real estate properties and real estate-related debt investments for GIP Fund 1. The financial results of GIP Fund 1 thus provide an indication of a prior real estate program for which our sponsor was ultimately responsible and the performance of this program during the periods covered. However, general economic conditions affecting the real estate industry and other factors contribute significantly to financial results.

The Tables presented provide summary unaudited information related to GIP Fund 1. By purchasing shares in our public offering, investors will not acquire any ownership interest in GIP Fund 1 to which the information in the Tables relate and investors should not assume that they will experience returns, if any, comparable to those experienced by the investors in GIP Fund 1.

The information in these Tables should be read together with the summary information under the “Prior Performance Summary” section of this prospectus. The following Tables are included in this prospectus:

 

   

Table II—Compensation to Sponsor; and

 

   

Table III—Annual Operating Results of Prior Real Estate Programs.

The following tables have been omitted: (i) Table I—Experience in Raising and Investing Funds (no offerings by GIP Fund 1 have closed in the prior three years); (ii) Table IV—Results of Completed Programs (GIP Fund 1 has not completed operations); (iii) Table V—Sales of Dispositions of Properties (GIP Fund 1 has never sold or disposed of a property) and (iv) Table VI—Acquisitions of Properties by Programs (GIP Fund 1 has not acquired any property in the prior three years).


TABLE II

COMPENSATION TO SPONSOR

(UNAUDITED)

This table sets forth the amount and type of compensation paid to our sponsor and affiliates related to GIP Fund 1. The information represents activity since inception.

 

     GIP Fund 1  

Date Offering Commenced

     9/21/2012  

Dollar Amount Raised

   $ 940,000  

Amount Paid to Sponsor from Proceeds of Offering:

  

Underwriting Fees

     —    

Acquisition Fees:

  

Real Estate Commissions (1)

     —    

Advisory Fees

     —    

Other

     —    

Other

     —    

Dollar Amount of Cash Generated from Operations Before Deducting Payment to Sponsors

     —    

Amount Paid to Sponsor From Operations:

  

Asset Management Fee (2)

     —    

Property Management Fees (2)

   $ 62,435  

Partnership Management Fees

     —    

Reimbursements

     —    

Leasing Commissions

     —    

Other

     —    

Dollar Amount of Property Sales and Refinancing Before Deduction Payments to Sponsor:

  

Cash

     —    

Notes

     —    

Amount Paid to Sponsors from Property Sales and Refinancing:

  

Real Estate Commissions

     —    

Incentive Fees

     —    

Disposition Fees

     —    

Other

     —    

 

(1)

Calkain Companies LLC, was paid a $48,450 brokerage commission on the transaction since it was the broker for GIP Fund 1. Our sponsor was an equity partner in Calkain Companies, LLC, but did not receive a direct commission on this transaction.

(2)

All fees have been allocated to property management. Reflects total fees paid for the years ended December 31, 2013, 2014, 2015, 2016, 2017 and 2018 of $79, $12,218, $12,297, $12,297, $12,297 and $13,247, respectively.


TABLE III

OPERATING RESULTS OF PRIOR PROGRAMS

(UNAUDITED)

The following sets forth the unaudited operating results of GIP Fund 1 for the years ended December 31, 2013 through December 31, 2018.

 

     2013     2014     2015     2016     2017     2018     Total  

Gross Rental Income

   $ 5,101     $ 139,972     $ 140,120     $ 135,000     $ 134,827     $ 132,482     $ 687,502  

Less:

              

Rental operating expenses

     1,055       39,161       41,070       38,123       34,428       64,074       217,911  

Interest Expense, net

     1,061       30,346       28,916       26,626       28,532       30,723       146,204  

Depreciation

     1,170       28,074       28,074       28,074       28,074       27,294       140,760  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Income (GAAP basis)

     1,815       42,391       42,060       42,177       43,793       10,391       182,627  

Taxable Income from Operations (2)

     1,764       42,389       42,058       43,772       43,772       7,040       180,795  

Summary Statement of Cash Flows

              

Cash generated from operations (3)

     2,456       73,057       71,361       72,975       73,774       34,066       327,689  

Cash generated from investing activities

     (1,638,235     —         —         —         —         —         (1,638,235

Cash generated from financing

     1,655,000       —         —         —         —         627,993       2,282,993  

Total distributions to investors

     —         (76,260     (66,000     (66,000     (66,000     (674,500     (948,760

Operations

     —         (75,513     (66,000     (66,000     (66,000     (54,176     (327,689

Return of capital

     —         (747     —         —         —         (620,324     (621,071
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash generated after cash distributions to investors

     2,456       (3,203     5,361       6,975       7,774       (640,434     (621,071

Percent of properties remaining unsold

     100     100     100     100     100     100     100

Distribution Data Per $1,000 Invested (4)

   $ —       $ 81.13     $ 70.21     $ 70.21     $ 70.21     $ 717.54     $ 1,009.30  

Cash Distributions to Investors

              

Sources (on GAAP basis)

              

- Operating activities

   $ —       $ 80.33     $ 70.21     $ 70.21     $ 70.21     $ 57.63     $ 348.59  

- Investing & financing
activities

     —         —         —         —         —         —         —    

- Other (return of capital)

     —         0.79       —         —         —         659.92       660.71  

 

(1)

Most recent available year end information

(2)

Straight-line rent adjustment is only GAAP basis adjustment.

(3)

Cash generated from Operations reported on a non-GAAP basis.

(4)

$940,000 was initially invested in the fund.