March 16, 2016
The Securities and Exchange Commission (SEC) has approved the sale of shares by Generation Income Properties Inc., through its Regulation A+ initiative. The Tampa, FL-based REIT will invest in the top 20, highest-density U.S. cities to acquire a portfolio of net-lease products.
To that end, the REIT has launched a $20 million capital raise to begin buying assets. The company is selling 4 million shares at $5 a share.
Generation Income, founded by David Sobelman, is the first REIT to file under Regulation A+, and will be listed on the over-the-counter marketplace following the offerings close. Regulation A+ comes from new rules in the Jumpstart our Business Startups (JOBS) Act of 2012.
Sobelman is the company’s chairman and president, as well as co-founder and co-manager of Calkain Cos.