Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 257

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 6
Chunk 257
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    $
    146,421
     
    $
    2,621

    Other property income
     
    376

    336

    40

    Total income
     
    149,418

    146,757

    2,661

    Property operating expenses
     
    30,041

    29,408

    633

    Real estate tax expense
     
    17,923

    18,362

    (439
    )

    Total property operating expenses
     
    47,964

    47,770

    194

    Property net operating income
     
    101,454

    98,987

    2,467

    Straight-line income (expense), net
     
    383

    411

    (28
    )

    Amortization of intangibles and   lease incentives
     
    (276
    )
     
    2,124

    (2,400
    )

    General and administrative   expenses
     
    (5,817
    )
     
    (5,237
    )
     
    (580
    )

    Business management fee
     
    (8,963
    )
     
    (9,632
    )
     
    669

    Depreciation and amortization
     
    (60,809
    )
     
    (59,542
    )
     
    (1,267
    )

    Interest expense
     
    (41,272
    )
     
    (42,451
    )
     
    1,179

    Interest and other income
     
    322

    217

    105

    Net loss
    $
    (14,978
    )
    $
    (15,123
    )
    $
    145

Net loss. Net loss was $14,978 and $15,123 for the years ended December 31, 2024 and 2023, respectively.

Total property net operating income. During the year ended December 31, 2024, property net operating income increased $2,467, total property income increased $2,661, and total property operating expenses including real estate tax expense increased $194.

The increase in property net operating income is primarily due to an increase in base rent in