Inland Real Estate Income Trust Inc. (which we refer to herein as the “Company”, “we”, “our” or “us”) was incorporated on August 24, 2011 to acquire and manage a portfolio of commercial real estate investments located in the United States. We have primarily focused on acquiring retail properties and intend to target a portfolio of 100% grocery-anchored properties as described below. We have invested in joint ventures and may continue to invest in additional joint ventures or acquire other real estate assets such as office and medical office buildings, multi-family properties and industrial/distribution and warehouse facilities if our management believes the expected returns from those investments exceed that of retail properties. We also may invest in real estate-related equity securities of both publicly traded and private real estate companies, as well as commercial mortgage-backed securities (“CMBS”). Our sponsor, Inland Real Estate Investment Corporation, referred to herein as our “Sponsor” or “IREIC,” is an indirect subsidiary of The Inland Group, LLC. Various affiliates of our Sponsor provide services to us. We are externally managed and advised by IREIT Business Manager & Advisor Inc., referred to herein as our “Business Manager,” an indirect wholly owned subsidiary of our Sponsor. Our Business Manager is responsible for overseeing and managing our day-to-day operations. Our properties are managed by Inland Commercial Real Estate Services LLC, referred to herein as our “Real Estate Manager,” an indirect wholly owned subsidiary of our Sponsor. We commenced an initial public “best efforts” offering (the “Offering”) on October 18, 2012, which concluded on October 16, 2015. We sold 33,534,022 shares of common stock generating gross proceeds of $834.4 million from the Offering. On March 3, 2020, our board of directors determined an estimated per share net asset value (the “Estimated Per Share NAV”) of our common stock as of December 31, 2019 of $18.15. The previously estimated per share net asset value of $20.12 as of December 31, 2018 was established on March 5, 2019.
Company profile
Ticker
INRE
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Inland Core Assets Real Estate Trust, Inc., Inland Monthly Income Trust, Inc.
SEC CIK
Corporate docs
Subsidiaries
IREIT Athens Eastside, L.L.C. • IREIT Branson Hills, L.L.C. • IREIT Branson Hills Plaza – T, L.L.C. • IREIT Conyers Heritage, L.L.C. • IREIT Coral Springs North Hills, L.L.C. • IREIT Denton Village, L.L.C. • IREIT Flowood Dogwood, L.L.C. • IREIT Fresno El Paseo, L.L.C. • IREIT Frisco Marketplace, L.L.C. • IREIT Frisco Marketplace Outlot, L.L.C. ...
IRS number
453079597
Latest filings (excl ownership)
SC 14D9
Tender offer solicitation
11 Apr 24
SC TO-T
Third party tender offer statement
1 Apr 24
8-K
Other Events
28 Mar 24
10-K
2023 FY
Annual report
13 Mar 24
8-K
Inland Income Trust Announces Estimated Per Share Net Asset Value
5 Mar 24
8-K
Departure of Directors or Certain Officers
25 Jan 24
8-K
Other Events
23 Jan 24
8-K
Entry into a Material Definitive Agreement
19 Jan 24
8-K
Other Events
28 Dec 23
8-K
Material Modifications to Rights of Security Holders
13 Nov 23
Financial summary
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Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
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Cash on hand (at last report) | 9.75 mm | 9.75 mm | 9.75 mm | 9.75 mm | 9.75 mm | 9.75 mm |
Cash burn (monthly) | 979.00 k | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 6.74 mm | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 3.00 mm | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 3.1 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
7 Nov 23 | Daniels Lee A | Common Stock | Grant | Acquire A | No | No | 0 | 1,208.46 | 0.00 | 9,686.32 |
7 Nov 23 | Michael Bernard J | Common Stock | Grant | Acquire A | No | No | 0 | 1,208.46 | 0.00 | 7,562.56 |
7 Nov 23 | Davis Stephen L | Common Stock | Grant | Acquire A | No | No | 0 | 1,208.46 | 0.00 | 7,745.458 |