Loci Completes Preferred Equity Investment in 21-Asset RE Portfolio

Loci Fund II GP, LLC, an affiliate of private real estate fund manager Loci Capital Group, LLC, concluded a preferred equity investment for the acquisition and recapitalization of a 21-asset retail and commercial net lease portfolio.

The portfolio will be managed by Generation Income Properties, Inc. (GIPR), a real estate investment trust.

The transaction came at the same time as GIPR purchased a portfolio of 13 net lease assets from Modiv Industrial, Inc., an internally managed net lease industrial manufacturing REIT.

The deal roughly doubles the size of GIPR’s portfolio, is instantly cash flow accretive, and expands its footprint to 13 states across the US.

“The cost basis, underlying cash flow of the portfolio, and strength of the tenant base combine to create a wide margin of safety for our investors. Combined with world-class sponsorship, we think this is a great first deal for our Fund II investors,” said Michael Phillips, CEO and co-founder of Loci Capital.

Since its founding in 2019, the firm has invested more than $240 million in over $1 billion worth of real estate, including multifamily, hospitality, office, vacation rental, student housing and medical offices.