Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 312

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 6
Chunk 312
---
    $
    —

    $
    62,510

    Building and improvements
     
    —

    —

    192,722

    Acquired lease intangible assets
     
    —

    —

    33,285

    Acquired intangible liabilities
     
    —

    —

    (9,654
    )

    Assumed liabilities, net
     
    —

    —

    (983
    )

    Purchase of investment properties
    $
    —

    $
    —

    $
    277,880

    Cash paid for interest
    $
    40,935

    $
    40,397

    $
    27,421

    Supplemental schedule of non-cash investing and financing activities:

    Accrued capital expenditures
    $
    3,581

    $
    1,080

    $
    253

See accompanying notes to consolidated financial statements.

78

INLAND REAL ESTATE INCOME TRUST, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024(Dollar amounts in thousands, except per share amounts) 

NOTE 1 – ORGANIZATIONInland Real Estate Income Trust, Inc. (the “Company”) was formed and sponsored by Inland Real Estate Investment Corporation, referred to herein as the “Sponsor” or “IREIC,” an indirect subsidiary of The Inland Group, LLC (“Inland”) on August 24, 2011. The Company was formed to acquire and manage a portfolio of commercial real estate investments located in the United States and elected to be taxed as a real estate investment trust (“REIT”) commencing with the tax year ended December 31, 2013. The Company’s strategic plan, implemented with a view toward creating a liquidity event for stockholders, has recently focused primarily on acquiring and owning a portfolio substantially all of which is comprised of grocery-anchored properties. As of December 31, 2024, the Company owned 52 retail properties, totaling 7,168,608 square feet. The properties are located in 24 states. A majority of the Company’s properties are multi-tenant, necessity-based retail shopping centers located primarily in major regional markets and growing secondary markets throughout the United States. As of December 31, 2024, the Company’s portfolio had physical and economic occupancy of 93.1% and 93.4%, respectively.The Company has no employees. The Company is managed by IREIT