Company: INRE
Filing Date: 2025-12-09
Form Type: 8-K
Source: 0001193125-25-312903
Chunk: 3

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-12-09
Form: 8-K
Item: Item 8.01
Chunk 3
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, and is not meant to represent the amount a stockholder would receive now or in the future for his or her shares of the Company’s common stock if the Company were to be sold or the shares of common stock were to be listed on a national securities exchange. Stockholders should not rely on the Estimated Per Share NAV in deciding to buy or sell shares of our common stock. The Estimated Per Share NAV is based on several assumptions, estimates and data that are inherently imprecise and susceptible to uncertainty and changes in circumstances, including changes to the value of individual assets as well as changes and developments in the real estate and capital markets, such as market changes and developments that may result from the changes in interest rates.

The board, not SitusAMC, is solely responsible for determining the Estimated Per Share NAV. The Company currently expects to publish an updated Estimated Per Share NAV not later than December 2026.

Valuation Methodologies

As of the Valuation Date, the Company’s real estate portfolio was comprised of 52 retail properties, totaling approximately 7.2 million square feet. The weighted average period that the Company has owned the properties was 9.1 years as of the Valuation Date.

As noted above, SitusAMC used the “net asset value” or “ NAV” method, also known as the appraised value methodology, in preparing the Valuation Report. This method is based on the fair value of real estate, real estate related investments and all other assets, less the fair value of total liabilities. The fair value estimate of our real estate assets is equal to the sum of their individual real estate values. Generally, SitusAMC estimated the value of the Company’s real estate assets using a discounted cash flow, or “ DCF,” methodology of projected net operating income, less lease-up costs and deferred maintenance, as appropriate, for each property, for the ten-year period ending September 30, 2035, and applied a discount rate that it believed was consistent with the inherent level of risk associated with the asset. SitusAMC used the DCF approach which it concluded was appropriate because the portfolio is comprised of multi-tenant assets.

The estimated value of the Company’s real estate assets reflects an overall decrease of 19% compared to the original cost of these real estate assets plus any capital expenditures invested in those real estate assets by the Company through September 30, 2025. For all other (non-real estate) assets, such as other current assets, fair value was determined separately based on