VIRGINIA BEACH, Va., June 18, 2025 (GLOBE NEWSWIRE) -- Resurgent Realty Trust ("RRT"), a shareholder of Generation Income Properties, Inc. (NASDAQ: GIPR) ("GIPR" or the "Company"), announced the withdrawal of its prior offers to purchase GIPR shares at $2.50, $2.75 and $3.00 due to the negative impact of GIPR's recent asset sales on its NAV along with the continued erosion of GIPR's share price. The current offer represents a discount of approximately 15% to Resurgent's estimated NAV for GIPR of $1.70. Resu ...

Portfolio Performance - As of March 31, 2025, approximately 65% of the portfolio's annualized base rent (ABR) was derived from tenants with an investment grade credit rating of "BBB-" or better[140] - The portfolio is 93% leased and occupied, indicating strong demand for the properties[140] - Approximately 92% of the leases in the current portfolio provide for increases in contractual base rent during future years[140] - The average effective annual rental per square foot is $15.24[140] - The largest tenants, including the General Service Administration and Dollar General, contributed approximately 36% of the portfolio's ABR[140] Financial Performance - Total revenue for the three months ended March 31, 2025, was $2,381,595, a decrease of 2.1% compared to $2,433,173 for the same period in 2024[149] - Total operating expenses increased by 6.2% to $3,857,376 for the three months ended March 31, 2025, compared to $3,633,825 in 2024[150] - Net loss for the three months ended March 31, 2025, was $1,797,460, an improvement from a net loss of $1,879,096 in 2024[151] - Net loss attributable to common shareholders decreased to $2,731,859 for the three months ended March 31, 2025, from $2,920,220 in 2024[153] - Funds From Operations (FFO) for the three months ended March 31, 2025, was $(211,486), compared to $(1,033,041) for the same period in 2024, indicating improved operational performance[189] - Core Adjusted Funds From Operations (Core AFFO) for the three months ended March 31, 2025, was $(39,589), a significant improvement from $241,218 in the same period of 2024[189] Cash and Debt Management - As of March 31, 2025, the company had total cash of $665,057 and outstanding mortgage loans with a principal balance of $66,184,027[154] - A loan agreement was entered into on August 10, 2023, for $21.0 million to finance the acquisition of the Modiv Portfolio, with a fixed interest rate of 7.47%[157] - The company has a loan of $5.5 million due on October 14, 2026, with a fixed interest rate of 9%[162] - As of March 31, 2025, the total outstanding mortgage loans payable amounted to $66,184,027, with a debt service coverage ratio (DSCR) requirement of 1.25 for several loans[166] - Minimum required principal payments on debt for 2025 total $1,138,148, with significant payments of $21,846,023 due in 2028 and $13,311,313 in 2029[170] Equity and Financing Activities - From inception through March 31, 2025, the company has distributed $5,024,622 to common stockholders[142] - The company closed a public offering generating net proceeds of $13.8 million in September 2021[155] - The company executed a purchase and sale agreement to sell a property for $7.2 million, expected to close in June 2025[169] - The company entered into new agreements for Norfolk properties, raising $3,000,000 in temporary equity as of March 31, 2025[170] - The preferred equity interest from the LC2 Investment has a cumulative distribution preference of 15.5% per year, with a current preferred return of 5% per annum[171] Tax and Regulatory Compliance - The company has elected to be taxed as a REIT for federal income tax purposes since the taxable year ending December 31, 2021[135] - The company was in compliance with all covenants except for one project level DSCR covenant, which was below the required 1.25 threshold due to a six-month vacancy[169] - The company does not have any material off-balance sheet arrangements that could materially affect its financial condition[181] Going Concern and Financial Flexibility - The company has substantial doubt about its ability to continue as a going concern due to recurring losses and projected cash needs[164] - The company aims to maintain financial flexibility through retained cash flows, long-term debt, and preferred stock to finance growth, targeting a lower-leveraged portfolio in the long term[177] - The redemption value of the preferred interest is $14,100,000 plus accrued but unpaid preferred interest of $3,403,728 as of March 31, 2025[175] Interest and Debt Costs - Interest expense increased by $161,526 year-over-year, driven by debt financing related to property acquisitions[158] - Debt issuance costs amortized during Q1 2025 were approximately $42,533, compared to $47,780 in Q1 2024[168] - The preferred return increased from 15.5% to 18%, with accrued preferred return rising from 10.5% to 13%[174]

Core Viewpoint - Resurgent Realty Trust (RRT) is urging Generation Income Properties, Inc. (GIPR) to engage in discussions regarding a non-binding term sheet submitted on January 30, 2025, highlighting the need for immediate action to address governance and financial issues facing GIPR [1][2]. Financial Obligations - GIPR has a $6 million obligation to LOCI Capital due on May 15, 2025, which, if not redeemed, could lead to a governance crisis where LOCI gains board control and the interest rate on the obligation increases to 18.5% upon default [3]. - GIPR also has $3 million in preferred equity from Brown Family Enterprises, which is draining liquidity despite an extended maturity to 2027 [4]. Upcoming Financial Reporting - The Q1 2025 Form 10-Q is due on May 15, coinciding with the LOCI redemption deadline, making it a critical moment for GIPR to clarify its financial position and plans regarding LOCI and preferred equity restructuring [4][5]. Executive Compensation Concerns - CEO David Sobelman received over $700,072 in 2024, including unusual "guarantee fees," while the company has recorded cumulative net losses of $8.6 million through 2022 and has never been profitable [6][7]. Operational and Governance Issues - GIPR's portfolio has significant concerns, including reliance on a few major tenants for 62% of base rent and unresolved material weaknesses in internal controls over financial reporting [13]. - The leadership of GIPR is criticized for misaligned interests and ineffective decision-making, necessitating experienced leadership to navigate the current crisis [9][10]. Call to Action - RRT is proposing immediate actions, including convening an emergency board meeting, engaging with RRT for potential solutions, ensuring full disclosure in the upcoming 10-Q, and considering new leadership capable of restructuring [14].

Property Ownership and Rental Income - As of March 19, 2025, the company owns thirty properties, with 40% of total base rent derived from office properties and 60% from retail/medical-retail properties[63][75]. - The company has five tenants that each account for more than 10% of annualized rent, collectively contributing approximately 64% of the portfolio's annualized base rent as of March 19, 2025[102]. - Approximately 94,000 square feet leased to the General Services Administration (GSA) are under non-firm terms, allowing the tenant to terminate without a fee, which poses a risk to future rental income[96]. - A significant portion of rental income is derived from net leases, which may not result in fair market lease rates over time, impacting income and distributions[149]. Financial Performance and Risks - The company has experienced a cumulative net loss of approximately $19.7 million from inception through December 31, 2024, primarily due to start-up costs and high corporate expenses[65]. - The company may incur additional indebtedness in the future, which could restrict operational flexibility and increase vulnerability to economic conditions[71]. - The company is dependent on its Operating Partnership for cash flow, which may limit its ability to make distributions to shareholders[79]. - The bankruptcy of a major tenant could significantly harm the company's financial condition and ability to pay distributions[104]. - Economic downturns may result in tenant defaults, reduced rental income, and increased insurance premiums, negatively impacting cash flow[126]. Capital and Financing - The company anticipates needing to raise additional capital to acquire more properties, which may dilute existing shareholders' interests[70]. - The company continues to rely on external financing, primarily through equity securities and mortgages, but faces challenges due to rising interest rates and market volatility[162]. - The company may incur mortgage debt to acquire properties or pay distributions, which increases expenses and risks of foreclosure if cash flow is insufficient[157]. - The company's ability to acquire properties or make capital improvements is limited by its requirement to distribute at least 90% of annual taxable income to stockholders[164]. Operational Challenges - The company may face challenges in identifying and consummating suitable investment opportunities due to competition from other investors, which could impede growth[69][76]. - The GIP SPE Operating Agreement requires approval from LC2 for significant operational decisions, potentially limiting the company's operational flexibility[72][74]. - The company lacks geographic and tenant diversity due to its current size, which may hinder its ability to achieve overall portfolio diversity[75]. - The company has a risk management framework in place, but limited personnel may restrict its ability to identify and mitigate risks effectively[82]. Regulatory and Compliance Issues - Compliance with governmental laws and regulations, including environmental matters, may impose significant costs that adversely affect income and cash available for distributions[139]. - The company faces risks related to federal income tax laws that could adversely affect its operations and investors[199]. - The company must ensure it does not become closely held, as this could jeopardize its REIT status[189]. - Future legislative or regulatory changes could impact the company's tax status and investor returns[200]. Market and Economic Conditions - High inflation and rising interest rates may adversely impact tenants' ability to pay rent, affecting the company's cash flow[142]. - Government budgetary pressures and remote work trends have reduced demand for government-leased space, potentially affecting rental income[95]. - Future pandemics or health crises could negatively impact tenants' financial conditions and the company's overall financial performance[92]. Shareholder and Stockholder Considerations - The company has 110 million authorized shares of stock, which could lead to significant dilution of current shareholders' equity if additional shares are issued[208]. - The company’s charter limits ownership of its common stock to 9.8%, which may discourage takeovers that could benefit shareholders[217]. - The stock price of the company's common stock may be volatile, influenced by various market factors and operational performance[203]. - The company has the option to issue preferred stock that could subordinate the rights of common stockholders, affecting their potential returns[218]. Environmental and Property Risks - Environmental liabilities could arise from hazardous substances on properties, potentially leading to significant costs and operational impacts[131]. - Properties may contain mold or asbestos, leading to health-related litigation and potential loss of tenants[132]. - Limited warranties on property purchases increase the risk of losing invested capital and rental income[109]. - Rising operating expenses could reduce cash flow and funds available for future acquisitions[117].

Core Viewpoint - Resurgent Realty Trust (RRT) believes that Generation Income Properties, Inc. (GIPR) is currently underperforming and proposes to acquire a majority stake to implement changes in management and strategic direction [1]. Group 1: Proposed Acquisition Details - RRT proposes to acquire 51% of GIPR's common stock at a price of $3.00 per share, representing a 42% premium [2][3]. - The acquisition aims to maintain GIPR's status as a real estate investment trust (REIT) [3]. - Following the acquisition, GIPR's Board of Directors will expand from five to eleven members, with new directors selected by the Investors [3]. Group 2: Due Diligence and Exclusivity - The Investors will conduct due diligence, including access to GIPR's legal and accounting records, property inspections, and meetings with management [3]. - GIPR agrees not to engage in discussions with other parties regarding similar transactions for a specified period [3][4]. Group 3: Conditions and Confidentiality - The transaction is subject to customary conditions, including necessary approvals from equity holders and regulatory bodies [4]. - The terms of the Letter of Intent (LOI) and the term sheet are confidential, with disclosure only permitted under specific legal circumstances [4].

Financial Performance - Generated a net loss attributable to GIP common shareholders of $2.1 million, or ($0.55) per basic and diluted share for Q3 2024[1] - Net loss attributable to common shareholders for Q3 2024 was $(2,969,596), compared to $(1,828,902) in Q3 2023, reflecting a 62.3% increase in losses[16] - The company reported a comprehensive loss attributable to common shareholders of $(2,969,596) for Q3 2024, compared to $(1,749,933) in Q3 2023[16] - Net loss for the three months ended September 30, 2024, was $(2,103,549), compared to $(1,213,265) for the same period in 2023[18] - Core Funds From Operations (Core FFO) for the three months ended September 30, 2024, was $(145,885), compared to $(65,567) in 2023[18] - Funds From Operations (FFO) for the nine months ended September 30, 2024, was $(601,651), a slight increase from $(552,406) in 2023[18] - Adjusted Funds From Operations (AFFO) for the nine months ended September 30, 2024, was $(1,226,944), compared to $(468,990) in 2023[18] Revenue and Income - Total revenue from operations for Q3 2024 was $2.4 million, up from $1.8 million in Q3 2023, driven by the integration of a 13-property portfolio acquired from Modiv[3] - Total revenue for Q3 2024 was $2,400,282, a 30.1% increase from $1,844,148 in Q3 2023[16] - Rental income for Q3 2024 reached $2,326,980, up 26.4% from $1,841,044 in Q3 2023[16] - GIPR's net operating income (NOI) for Q3 2024 was $1.7 million, compared to $1.4 million for the same period last year[3] - Net Operating Income (NOI) for Q3 2024 was $1,671,220, a 18.3% increase from $1,412,789 in Q3 2023[17] Assets and Liabilities - Total assets as of September 30, 2024, were $107,972,756, a slight decrease from $108,691,416 as of December 31, 2023[14] - Total liabilities increased to $75,244,921 as of September 30, 2024, compared to $74,170,048 at the end of 2023[14] - Cash and cash equivalents decreased to $1,547,110 from $3,117,446 at the end of 2023, indicating a liquidity contraction[14] Expenses - General and administrative expenses for Q3 2024 were $577,565, up from $530,538 in Q3 2023, representing an increase of 8.9%[16] - Interest expense for Q3 2024 was $1,098,608, a significant increase from $770,624 in Q3 2023, reflecting higher borrowing costs[16] Portfolio and Tenants - The portfolio is 89% leased and occupied, with tenants paying 100% of rent[2] - Approximately 60% of the portfolio's annualized base rent is derived from tenants with an investment-grade credit rating of "BBB-" or better[2] - Average effective annual rental per square foot is $14.75[2] Capital and Dividends - The company suspended its dividend in July 2024 to focus on growth and plans to reinstate it when feasible[4] - The company raised $2.5 million in new capital through preferred units from a new investor in July 2024[4] - GIPR has no debt obligations due until 2028 and no cash redemptions due until 2026, allowing for strategic flexibility[9] Stock and Shares - Total weighted average shares of common stock outstanding for the three months ended September 30, 2024, was 5,433,833, compared to 2,618,077 in 2023[18] - Non-cash stock compensation for the three months ended September 30, 2024, was $94,935, down from $119,380 in 2023[18] Adjustments and Revisions - Adjustments to net loss for the three months ended September 30, 2024, amounted to $2,109,058, compared to $1,069,658 in 2023[18] - The company revised its FFO calculation to include loss on held for sale asset valuation as an add-back[18] - FFO and related measures are considered useful by the company for comparing operating performance among REITs[19]

Financial Performance - Total revenue for the three months ended September 30, 2024, was $2,400,282, an increase of $556,134 (30.1%) compared to $1,844,148 for the same period in 2023[140]. - Total revenue for the nine months ended September 30, 2024, was $7,092,690, an increase of $2,582,625 (57.3%) compared to $4,510,065 for the same period in 2023[140]. - Total operating expenses for the three months ended September 30, 2024, were $3,769,715, an increase of $709,578 (23.2%) compared to $3,060,136 for the same period in 2023[141]. - Total operating expenses for the nine months ended September 30, 2024, were $11,133,386, an increase of $4,050,741 (57.2%) compared to $7,082,645 for the same period in 2023[144]. - Net loss for the three months ended September 30, 2024, was $2,103,549, compared to a net loss of $1,213,265 for the same period in 2023[145]. - Net loss for the nine months ended September 30, 2024, was $5,444,133, compared to a net loss of $3,156,015 for the same period in 2023[145]. - Funds from Operations (FFO) for the nine months ended September 30, 2024, was $(601,651), compared to $(552,406) for the same period in 2023[185]. - Core Adjusted Funds From Operations for the nine months ended September 30, 2024, was $(906,267), compared to $(72,354) for the same period in 2023[185]. Portfolio and Leasing - As of September 30, 2024, approximately 60% of the portfolio's annualized base rent (ABR) was derived from tenants with an investment grade credit rating of "BBB-" or better[128]. - The portfolio is 89% leased and occupied, indicating strong demand for the properties[128]. - Approximately 92% of the leases in the current portfolio provide for increases in contractual base rent during future years[128]. - The average effective annual rental per square foot is $14.75[128]. - The largest tenants, including the General Service Administration and Dollar General, contributed approximately 69% of the portfolio's ABR[128]. Cash Flow and Liquidity - As of September 30, 2024, the company had total cash of $1,581,610 and outstanding mortgage loans with a principal balance of $59,707,772[149]. - For the nine months ended September 30, 2024, the Company generated positive operating cash flows of $783,511 and had cash on hand of $1.58 million[159]. - Net cash provided by operating activities increased to $783,511 for the nine months ended September 30, 2024, compared to $18,537 for the same period in 2023, attributed to the doubling of income-generating assets through the Modiv acquisition[175]. - Net cash used in investing activities was $5,960,893 for the nine months ended September 30, 2024, a significant decrease from $33,314,973 in the same period of 2023[176]. - Net cash provided by financing activities decreased to $3,607,045 for the nine months ended September 30, 2024, down from $33,916,112 in 2023, due to increased mortgage principal repayments and dividend payments[177]. Debt and Financing - Minimum required principal payments on the Company's debt total $65.66 million as of September 30, 2024, with significant payments due in 2028 and thereafter[168]. - The Company is required to maintain a debt service coverage ratio (DSCR) of 1.50 for certain mortgage loans, and as of September 30, 2024, it was in compliance with all covenants[167]. - The Company modified terms for two secured mortgage loans, extending maturity dates to August 2029, to improve liquidity and profitability[159]. - The Company had outstanding mortgage loans payable totaling $59.71 million as of September 30, 2024[161]. - The company aims to maintain financial flexibility through retained cash flows, long-term debt, and preferred stock to finance growth, targeting a lower-leveraged portfolio in the long term[174]. Dividends and Shareholder Returns - From inception through September 30, 2024, the company has distributed $5,031,549 to common stockholders[131]. - On July 3, 2024, the company announced the suspension of its regular dividend, effective from July 2024[132]. Corporate Governance and Changes - The company appointed CohnReznick LLP as its new independent registered public accounting firm on July 19, 2024[135]. - The company entered into a Fifth Amendment to the Amended and Restated Limited Partnership Agreement, issuing Series B-1 Preferred Units on July 24, 2024[136]. Concerns and Projections - The Company reported a substantial doubt about its ability to continue as a going concern one year after the issuance of the financial statements due to recurring losses and projected cash needs[159]. - The Company has cash needs projected due to recurring losses, indicating a focus on improving financial health[159].

Financial Performance - Generated a net loss attributable to common shareholders of $2.3 million, or ($0.42) per share for Q2 2024[1] - The net loss attributable to common shareholders for Q2 2024 was $(2,261,722), compared to $(881,462) in Q2 2023[18] - The company reported a net loss of $1,461,488 for the three months ended June 30, 2024, compared to a net loss of $752,397 for the same period in 2023[20] - Funds From Operations (FFO) for the three months ended June 30, 2024, was $(326,252), a decrease from $(194,396) in the prior year[20] - Core Funds From Operations (Core FFO) for the three months ended June 30, 2024, was $(40,822), compared to $(88,492) for the same period in 2023[20] - Adjusted Funds From Operations (AFFO) for the three months ended June 30, 2024, was $(63,838), down from $(219,886) in the previous year[20] Revenue and Income - Total revenue from operations for Q2 2024 was $2.3 million, up from $1.3 million in Q2 2023, driven by the integration of a 13-property portfolio acquired in August 2023[4] - Total revenue for Q2 2024 was $2,259,235, a 70% increase from $1,328,878 in Q2 2023[16] - Rental income for Q2 2024 reached $2,248,382, compared to $1,318,750 in Q2 2023, reflecting a 70% year-over-year growth[16] - Net operating income (NOI) for Q2 2024 was $1.6 million, compared to $1 million for the same period last year[4] - Net Operating Income (NOI) for Q2 2024 was $1,575,608, compared to $1,008,623 in Q2 2023, representing a 56% increase[18] Expenses and Liabilities - Total expenses for Q2 2024 were $3,729,846, up from $1,986,715 in Q2 2023, indicating an increase of 88%[16] - Total liabilities decreased to $72,500,093 as of June 30, 2024, from $74,170,048 as of December 31, 2023[15] Cash and Assets - Total cash and cash equivalents as of June 30, 2024, were $2.59 million[3] - Cash and cash equivalents as of June 30, 2024, were $2,553,234, down from $3,117,446 as of December 31, 2023[15] - Total assets decreased to $104,493,840 as of June 30, 2024, from $108,691,416 as of December 31, 2023[15] Portfolio and Occupancy - Portfolio occupancy increased to 93%, with 100% rent collection from leased properties[8] - Approximately 60% of the portfolio's annualized base rent (ABR) comes from tenants with an investment grade credit rating of "BBB-" or better[2] - 92% of leases in the current portfolio provide for increases in contractual base rent during future years[2] Stock and Derivatives - The company reported a gain on derivative valuation of $44,996 in Q2 2024, compared to no gain in Q2 2023[18] - The company recognized a loss on derivative valuation of $(44,996) for the three months ended June 30, 2024[20] - The weighted average shares of common stock outstanding increased to 5,433,833 in Q2 2024 from 2,615,471 in Q2 2023[16] - The total weighted average shares of common stock outstanding increased to 5,433,833 for the three months ended June 30, 2024, from 2,615,471 in the prior year[20] Dividend and Cash Conservation - The company suspended its dividend in July 2024 to conserve cash during economic uncertainty[9] Rental Rates - Average effective annual rental per square foot is $14.75[2] Depreciation and Non-Cash Compensation - The company incurred depreciation and amortization expenses of $1,180,232 for the three months ended June 30, 2024, compared to $558,001 in the same period of 2023[20] - Non-cash stock compensation for the three months ended June 30, 2024, was $189,870, up from $77,039 in the prior year[20] Operating Performance Measures - The company believes that FFO and related measures are useful for comparing operating performance among REITs, despite not being cash generated from operating activities[22]

Portfolio Performance - As of June 30, 2024, approximately 60% of the portfolio's annualized base rent (ABR) was derived from tenants with an investment grade credit rating of "BBB-" or better[107] - The portfolio is 89% leased and occupied, with an average effective annual rental per square foot of $14.75[107] - Approximately 92% of the leases in the current portfolio provide for increases in contractual base rent during future years[107] - The largest tenants, including the General Service Administration and Dollar General, contributed approximately 69% of the portfolio's ABR[107] - The company has a total of 539,827 rentable square feet across its properties, with an annualized cash base rental income of $7,906,932[107] - The average remaining term of leases in the portfolio is approximately 4.1 years[107] Financial Performance - Total revenue for the three months ended June 30, 2024, was $2,259,234, an increase of $930,356 (70% growth) compared to $1,328,878 for the same period in 2023[113] - Total revenue for the six months ended June 30, 2024, was $4,692,407, an increase of $2,026,490 (76% growth) compared to $2,665,917 for the same period in 2023[113] - Total operating expenses for the three months ended June 30, 2024, were $3,729,846, an increase of $1,743,131 (88% growth) compared to $1,986,715 for the same period in 2023[115] - Total operating expenses for the six months ended June 30, 2024, were $7,363,672, an increase of $3,341,163 (83% growth) compared to $4,022,509 for the same period in 2023[114] - Net loss for the three months ended June 30, 2024, was $1,461,488, compared to a net loss of $752,397 for the same period in 2023[117] - Net loss for the six months ended June 30, 2024, was $3,340,584, compared to a net loss of $1,942,750 for the same period in 2023[117] - Net income attributable to non-controlling interests for the three months ended June 30, 2024, was $800,234, compared to $129,065 for the same period in 2023[119] Cash and Debt Management - As of June 30, 2024, the company had total cash of $2,587,734 and outstanding mortgage loans with a principal balance of $57,504,073[121] - The company reported a debt issuance cost amortization of approximately $47,780 for the three months ended June 30, 2024, and $95,560 for the six months ended June 30, 2024[134] - The company was in compliance with all covenants except for one project-level DSCR covenant for 2510 Walmer Ave, which tested at 1.17:1 against a minimum requirement of 1.25:1[135] - Minimum required principal payments on debt for 2024 (6 months remaining) total $13,364,244, with significant payments due in 2028 amounting to $21,341,791[136] - The company reported a total debt service coverage ratio (DSCR) of 1.50 for most mortgage loans, indicating strong financial health[131] Dividend and Equity Management - The company announced a suspension of its regular dividend starting with the monthly dividends that would have been paid in July 2024[110] - The Preferred Interest is required to be redeemed by August 10, 2025, at a redemption value of $14,100,000 plus accrued preferred interest of $1,817,478 as of June 30, 2024[140] - The company has a preferred equity member, Brown Family Enterprises, LLC, with a redemption right valued at $3,000,000 as of June 30, 2024[136] - The company incurred a guaranty fee expense to the CEO of $96,360 for the three months ended June 30, 2024, compared to $55,652 for the same period in 2023[125] Strategic Initiatives - The company intends to maintain financial flexibility through retained cash flows, long-term debt, and preferred stock to finance growth, aiming for a lower-leveraged portfolio in the long term[142] - The Company plans to employ greater leverage on individual assets during the acquisition phase to quickly build a diversified portfolio[142] - The company completed the acquisition of a tenant-in-common interest in its Rockford, Illinois property for a purchase price of $1.3 million on September 7, 2023[137] - LC2 made an initial capital contribution of $12.0 million to GIP SPE and an additional $2.1 million upon completion of the acquisition, with a cumulative preferred return of 15.5% per year[137] - The company executed a new lease for 2510 Walmer Ave on March 28, 2024, restoring the property to full occupancy as of May 1, 2024[135] Going Concern - The company has substantial doubt about its ability to continue as a going concern for at least the next 12 months due to recurring losses and projected cash needs[129]

Core Insights - The real estate sector is currently experiencing a trend of oversold stocks, presenting potential buying opportunities for undervalued companies [1][2] Company Summaries - **Luxurban Hotels Inc (LUXH)**: The company recently closed a public offering, resulting in a stock price drop of approximately 20% over the past five days, with a current RSI of 29.50 and a 52-week low of $0.14. Shares closed at $0.15, down 4.9% on Monday [3] - **Generation Income Properties Inc (GIPR)**: Following a downgrade from Buy to Hold by Maxim Group, the stock fell around 14% in the last five days. The current RSI is 28.61, with a 52-week low of $2.90. Shares closed at $3.36, down 5.4% on Monday [4] - **Medalist Diversified REIT Inc (MDRR)**: The company announced a dividend of 5 cents per share on common stock and 50 cents on Series A Preferred stock. The stock dipped about 2% over the past five days, with an RSI of 28.13 and a 52-week low of $8.24. Shares closed at $12.20 [5] - **Safe & Green Development Corp (SGD)**: The company is participating in a $400 million development project but saw its shares decline by around 24% in the last five days. The RSI is at 25.57, with a 52-week low of $0.29. Shares closed at $0.30, down 16.3% on Monday [6]