UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~August~~ 3July 29, ~~2023~~ 2025

Commission File Number: 000-50609

AEI INCOME & GROWTH FUND 25 LLC

(Exact name of registrant as specified in its charter)

State of Delaware		75-3074973
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

30 East 7^th Street, Suite 1300 St. Paul, Minnesota 55101		(651) 227-7333
(Address of principal executive offices)		(Registrant’s telephone number)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
NONE		NONE		NONE

Securities registered pursuant to Section 12(g) of the Act:

	Limited Partnership Units
	(Title of class)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

(17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

(17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 2 – Financial Information

Item 2.01 Completion of Acquisition or Disposition of Assets.

On ~~August~~July 329, ~~2023~~2025, the ~~Company~~Partnership ~~purchased~~sold aits 3035% interest in the ~~University~~Advance ofAuto ~~Iowa~~Parts ~~Health~~Store into ~~Riverside,~~GH ~~Iowa~~Willowbrook ~~for $1~~LLC,~~191,265~~ ~~from AEI Property Corporation (“APC”),~~ an ~~affiliate~~unrelated ofthird ~~the Company~~party. The ~~property~~Partnership isreceived ~~leased~~net tocash ~~Board~~proceeds of ~~Regents, State of Iowa under a lease agreement with a remaining primary term of~~ approximately ~~9.25 years. The annual rent is~~ $73498,~~215~~000 for the ~~30%~~property, ~~interest~~which ~~and~~resulted isin ~~scheduled to increase annually at 2.5%. The lease is~~ a net ~~lease~~gain ~~under which the tenant is responsible for all real estate taxes, insurance, maintenance, repairs and operating expenses~~ of ~~the~~approximately ~~property~~$110,000. ~~The only exception is the Company is responsible for repair and replacement for repairs that are capital in nature.~~

The Partnership purchased the property with cash received from the sale of property. The clinic was constructed in 2010 and is a 8,900 square foot building situated on approximately 3.0 acres. The freestanding clinic is located at 3056 Commercial Drive, Riverside, IA 52327.

U of IA Health is a primary care clinic in Riverside, IA that provides family-oriented care. The clinic provided services for routine examinations, immunizations, follow-up care, and diagnosing routine medical problems, as well as pregnancy care with an on-site pharmacy. The clinic has a total of four family medicine physicians, two nurse practitioners, one pharmacist and one physician assistant. The clinic is part of the University of Iowa Heath Care which is Iowa’s only comprehensive academic health system. For the fiscal year ended June 30, 2022, U of IA Health Care reported revenue of $3.5 billion and expenses of $3.0 billion.

Section 9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(a) Financial statements of businesses acquired – ~~Because~~Not the property is leased to a single tenant on a long-term basis under a net lease that transfers substantially all of the operating costs to the tenant, we believe that financial information about the tenant is more relevant than financial statements of the propertyApplicable. ~~Financial information of the tenant is presented in the last paragraph of Item 2.01.~~

(b) Pro forma financial information – A limited number of pro forma adjustments are required to illustrate the effects of the ~~above~~ transaction on the ~~Partnership’s~~ balance sheet and income statement. The following narrative description is furnished in lieu of ~~the~~ pro forma statements. Assuming the Partnership had sold the property on January 1, 2024:

~~Assuming~~The ~~the~~ Partnership's ~~had~~Investments ~~acquired~~in ~~the~~Real ~~property~~Estate onwould ~~January 1,~~have ~~2022,~~been ~~the~~reduced ~~Partnership’s~~by ~~Real~~$410,728 ~~Estate~~and ~~Held~~its ~~for~~Current ~~Investment~~Assets (cash) would have increased by $1498,~~191,265~~000 and ~~its~~Partners’ ~~Current~~Capital ~~Assets (cash)~~ would have ~~decreased~~increased by $187,~~191,265~~272.

For the year ended December 31, ~~2022~~2024, Income from Operations would have ~~increased~~decreased $2526,~~995~~413, representing ana ~~increase~~decrease in rental income of $7344,~~215~~079, ~~and~~a andecrease ~~increase~~ in depreciation expense of $15,213 and ~~amortization~~a ~~expense~~decrease in property management expenses of $472,~~220~~453. For the ~~three~~six months ~~ended~~ending ~~March 31~~June 30, ~~2023~~2025, Income from Operations would have ~~increased~~decreased $710,~~128~~842, representing ana ~~increase~~decrease in rental income of $1820,~~304~~818, ~~and~~a andecrease ~~increase~~ in depreciation expense of $7,606 and ~~amortization~~a ~~expense~~decrease in property management expenses of $112,~~176~~370.

The net effect of these pro forma adjustments would have caused Net Income to ~~increase~~decrease from $~~866~~669,~~110~~471 to $~~892~~643,~~105~~058 and decrease from $~~115~~1,~~711~~576,849 to $~~122~~1,~~839~~566,007, which would have resulted in Net Income of $2114.1266 and $341.0797 per Limited Partnership Unit outstanding for the year ended December 31, ~~2022~~2024 and the ~~three~~six months ended ~~March 31~~June 30, ~~2023~~2025, respectively.

(d) Exhibit 10.1 – ~~Not~~Purchase ~~required.~~and ~~The~~Sale ~~property~~Agreement ~~acquired~~dated ~~represents~~March ~~less~~12, ~~than~~2025 ~~15%~~between of the ~~total~~Partnership ~~assets~~and ofGH Willowbrook LLC, relating to the ~~Company~~property asat of10540 ~~August~~Pendleton 1Pike, ~~2023~~Indianapolis, IN 46236.

Exhibit 10.2 – First Amendment to the Purchase and Sale Agreement dated June 20, 2025 between the Partnership and GH Willowbrook LLC, relating to the property at 10540 Pendleton Pike, Indianapolis, IN 46236.

Exhibit 10.3 – Second Amendment to the Purchase and Sale Agreement dated June 26, 2025 between the Partnership and GH Willowbrook LLC, relating to the property at 10540 Pendleton Pike, Indianapolis, IN 46236.

Exhibit 10.4 – Third Amendment to the Purchase and Sale Agreement dated July 7, 2025 between the Partnership and GH Willowbrook LLC, relating to the property at 10540 Pendleton Pike, Indianapolis, IN 46236.

Exhibit 10.5 – Fourth Amendment to the Purchase and Sale Agreement dated July 24, 2025 between the Partnership and GH Willowbrook LLC, relating to the property at 10540 Pendleton Pike, Indianapolis, IN 46236.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AEI Income & Growth Fund 25 LLC
	Limited Partnership
	By:	AEI Fund Management XXI, Inc.
	Its:	Managing General Partner
Date: August 9, 2023	By:
Date: August 5, 2025	By:	/s/ Keith E. Petersen
		Keith E. Petersen
		Chief Financial Officer

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