Generation Income Properties, Inc. (NASDAQ:GIPR) has announced the successful sale of two properties, resulting in the full repayment of a commercial mortgage-backed securities $(CMBS)$ loan. The assets sold include an Auburn University-occupied industrial building in Huntsville, Alabama, and a Starbucks-occupied retail property in Tampa, Florida. This transaction paid off the approximately $10.5 million principal balance of the loan, leaving GIPR's remaining CMBS-encumbered property, a 7-Eleven in Washington, D.C., unleveraged. CEO David Sobelman highlighted that these transactions are a significant milestone in the company's efforts to streamline its balance sheet and enhance its portfolio. With the CMBS loan retired, GIPR is now positioned with a cleaner capital structure and improved operational flexibility.
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