AEI Income & Growth Fund 25 Sells Wyoming Property

The transaction with Opus Real Estate also led to meaningful shifts in AEI’s financial metrics and member equity.

December 08, 2025

Property Sale Closes, Adds $3.12M to Cash Position

On December 2, AEI Income & Growth Fund 25 closed the sale of its retail property in Cheyenne, Wyoming. The buyer—Opus Real Estate LLC—is an unrelated third party. The property, fully leased to Advance Auto Parts, sold for approximately $3.12 million in net cash proceeds. AEI booked a gain of around $915,000 as a result.

This sale increases AEI’s available cash and strengthens its balance sheet. If the deal had closed at the start of 2024, the fund’s investments in real estate would have decreased by just over $2.35 million, while current assets—primarily cash—would have jumped by the full $3.12 million. Members' equity would have moved up by nearly $767,000.

Impact on Income from Operations

There’s an earnings impact, too. For the full year 2024, AEI would have seen operating income fall by about $152,000. That shift reflects the loss of rental income from the property, partially offset by lower depreciation and property management expenses. The pattern continues into 2025. For the nine months ending September 30, operating income would have dropped by roughly $118,000.

Effect on Per-Unit Earnings

That translates into lower net income per Limited Member Unit. Had the sale closed earlier, earnings per unit would have come in at $11.27 for 2024 and $45.53 for the nine-month 2025 period.

Deal Structure and Documentation

The transaction followed a sequence of agreements between AEI and Opus Real Estate. The original purchase and sale agreement was signed on October 1, followed by an amendment in early November and a reinstatement later that same month. While the listed property address in those agreements refers to an Aurora, Illinois location, the current transaction applies to the Cheyenne asset. That suggests there may have been concurrent activity involving other properties under AEI’s ownership.

Strategic Outlook

This sale is part of AEI’s broader approach to managing real estate assets and returning capital to investors. The move brings more liquidity to the portfolio, with a direct impact on equity, income, and future positioning.