Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 226

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 1A
Chunk 226
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able The Company’s mortgage loans require compliance with certain covenants, such as debt service ratios, investment restrictions and distribution limitations. As of December 31, 2024, the Company was current on all of its debt service payments and in compliance with all financial covenants. All of the Company’s mortgage loans are secured by first mortgages on the respective real estate assets. As of December 31, 2024, the weighted average years to maturity for the Company’s mortgages payable was 1 year.As of March 5, 2025, the Company has four mortgage loans maturing in the next twelve months. The mortgage loans had an aggregate principal balance of $137,679 as of December 31, 2024. The Company intends to repay amounts due with cash flows from operating activities, cash on hand, proceeds available under the Revolving Credit Facility or proceeds from refinancing of mortgage loans.Interest Rate Swap AgreementsThe Company entered into interest rate swaps to fix certain of its floating SOFR based debt under variable rate loans to a fixed rate to manage its risk exposure to interest rate fluctuations. The Company will generally match the maturity of the underlying variable rate debt with the maturity date on the interest swap. See Note 14 – “Fair Value Measurements” for further information.As of December 31, 2024, the Company had hedged its variable rate mortgage loan of $26,000 and $525,000 of the Term Loan using interest rate swap contracts. The following table summarizes the Company’s interest rate swap contracts outstanding as of December 31, 2024. 

        DateEntered
         
        EffectiveDate
         
        MaturityDate
         
        Receive Floating Rate Index (a)
        PayFixedRate
         
        NotionalAmount
         
        Fair Value as ofDecember 31,2024

        Assets

        December 5, 2022
         
        December 1, 2022
         
        January 1, 2026
         
        One-month Term SOFR
         
        2.25
        %
        $
        26,000
         
        $
        477

        February 3, 2022
         
        March 1, 2022
         
        February 3, 2027
         
        One-month Term SOFR
         
        1.69
        %
         
        90,000

        4,206

        February