Generation Income Properties (GIP) is a small, internally managed REIT that acquires and owns single-tenant commercial real estate net leased to retail, office, and industrial tenants across the U.S. As of December 31, 2025, GIP's portfolio consists of 26 properties totaling ~471,000 rentable square feet and ~$7.6M in annualized base rent. The portfolio is predominantly retail (~70% of properties), with office (~25%) and a small medical-retail component. Key tenants include the General Services Administration, Dollar General, and the City of San Antonio, together accounting for ~39% of ABR, with ~60% of ABR coming from investment-grade tenants. GIP targets properties that are operationally critical to tenants — locations that are difficult to replicate due to zoning, physical characteristics, or significant tenant investment — on the thesis that embedded tenants are more likely to renew. Under net leases, tenants pay most property operating expenses, so GIP's rent is largely pass-through income. GIP acquires properties directly, often using its UPREIT structure, which allows property owners to contribute assets in exchange for operating partnership units on a tax-deferred basis. GIP is internally managed, avoiding external management fees, but carries G&A overhead spread over a very small asset base. Near-term, GIP is focused on balance sheet repair: the company suspended its common dividend in July 2024 and is actively marketing up to 18 properties for sale, with proceeds targeted at reducing preferred stock obligations and debt. GIP views this deleveraging phase as a prerequisite to resuming its longer-term acquisition strategy.