Refreshed board targets data centers, distribution facilities, and portfolio transactions as company accelerates balance sheet repair and charts path to growth

TAMPA, FL / ACCESS Newswire / June 4, 2026 / Generation Income Properties, Inc. (NASDAQ:GIPR) today issued the following letter from Chief Executive Officer David Sobelman to the Company's shareholders.

To Our Fellow Shareholders,

The past year has been one of hard, deliberate work, and the results are tangible. We have sold assets at a profit, retired senior mortgage debt, maintained 100% rent collection throughout and, as of June 30, 2026, we will have eliminated approximately 50% of our Loci Capital preferred obligations. The balance sheet has been meaningfully repositioned. This letter is about what comes next.

A Refreshed Board, A New Vision

In May 2026, we welcomed three new directors: Jess Johnson, Timothy Murray, and Matthew Stein. Each brings deep expertise in commercial real estate strategy, capital markets, and finance. Above all else, this board is here to help build a fundamentally stronger company.

As a first act of alignment, the Board terminated $300,000 of compensation that our recent Special Committee had caused the Board to grant the committee but that had not yet been paid. That liability is gone. The message is clear: leadership earns its compensation by delivering results for shareholders.

The Plan Forward

We are pursuing a focused strategic agenda built around three pillars:

New Asset Classes, New Growth. Our refreshed Board is actively evaluating expansion into higher-growth asset classes with a promising future. These include data centers, distribution and logistics facilities, and other portfolios of high-demand property types that reflect where real estate capital is flowing today.
Balance Sheet Stabilization. We are in active negotiation on senior debt refinancings and maturity extensions, and in continuing dialogue with Loci Capital to further reduce or eliminate the remaining preferred obligation. On June 1, 2026, we closed a $5.0 million public equity offering. This was a direct step toward restoring our equity position and preserving our Nasdaq listing while we continue to work through additional hurdles and seek to come back into full compliance with Nasdaq's stockholder equity requirement.
Protecting Our Nasdaq Platform. Our listing is a strategic asset and we are protecting it. The recent equity offering, ongoing asset sales, and balance sheet restructuring constitute steps in a defined compliance plan that is actively underway.
Industry Tailwinds. Private real estate markets are under significant strain. Capital is constrained, exits are limited, and sponsors need liquidity. As a public company, we can offer something private peers cannot: a publicly traded security. We are actively pursuing transactions in the aforementioned growth areas where structured asset contributions will allow private investors to access our platform, creating growth for GIPR while solving real problems for motivated counterparties.

Closing

We have done much hard work to continue to stabilize the Company. Now we are focused on building it. The combination of a refreshed Board, an expanding strategic mandate, and a dislocated private market environment creates a genuine opportunity that we intend to seize.

Thank you for your continued support.

David Sobelman
Chief Executive Officer
Generation Income Properties, Inc.

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 in densely populated submarkets. Additional information about Generation Income Properties, Inc. can be found at the Company's corporate website: www.gipreit.com.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. When used in this press release, in future filings with the Securities and Exchange Commission (the "SEC") or in other written or oral communications, statements which are not historical in nature, including those containing words such as "continue," "anticipate," "will," "estimate," "expect," "intend," "plan," and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Statements regarding the following subjects, among others, may be forward-looking: the Company's strategy for increasing its stockholder equity and regaining compliance with the Nasdaq listing rules, the Company's targeting of larger real estate transactions and different real estate assets, and the Company's efforts to strengthen its balance sheet. Such statements are based current expectations of management of the Company and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

Investors are cautioned that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors. Please refer to the risks detailed from time to time in the reports that the Company files with the SEC, including the Company's Annual Report on Form 10-K/A for the year ended December 31, 2025 filed with the SEC on April 3, 2026, as well as the Company's subsequent filings on Form 10-Q and periodic filings on Form 8-K, for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. All forward-looking statements speak only as of the date on which they are made. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.

Investor Contacts

Investor Relations
ir@gipreit.com

SOURCE: Generation Income Properties

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Generation Income Properties CEO Outlines Growth Strategy Following Board Refresh