Company: INRE
Filing Date: 2025-12-09
Form Type: 8-K
Source: 0001193125-25-312903
Chunk: 1

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-12-09
Form: 8-K
Item: Item 8.01
Chunk 1
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Item 8.01 Other Events.

Determination of Estimated Per Share NAV

On December 9, 2025, the Company announced that its board of directors, including all the independent members of the board, determined and established the Estimated Per Share NAV of the Company’s common stock of $16.89 per share. The Company is providing the estimate to its stockholders and to members of the Financial Industry Regulatory Authority (“ FINRA”) and their associated persons to assist the FINRA members in satisfying their customer account statement reporting obligations under FINRA Rule 2231.

To assist the board in establishing the Estimated Per Share NAV, the Company engaged SitusAMC Real Estate Valuation Services, LLC (“ SitusAMC”) to appraise the Company’s real estate investments and to determine the fair value of the Company’s long-term indebtedness. SitusAMC provided its valuation analysis of the Company’s assets and liabilities to the board in a report presented on December 8, 2025 that contained, among other information, a range of per share net asset values for the Company’s common stock as of the Valuation Date (the “ Valuation Report”). According to the Valuation Report, SitusAMC completed appraisals of the Company’s real estate investments using the discounted cash flow income approach. The report states that SitusAMC also analyzed the Company’s balance sheet for other assets and liabilities and reviewed the Company’s agreement with IREIT Business Manager & Advisor, Inc., the Company’s business manager and advisor (the “ Business Manager”), as well as guidance from the Business Manager, to determine whether a performance or incentive fee would be payable to the Business Manager upon the orderly sale of the assets and liquidation of the Company. The Valuation Report set forth a range of net asset values and noted that SitusAMC sensitized its real estate valuations as part of developing an estimated range of reasonableness of the Company’s Estimated Per Share NAV.

SitusAMC advised that the real estate appraisals were completed in compliance with the Uniform Standards of Professional Appraisal Practice and the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute (the “ Appraisal Institute”). The real estate appraisals were signed by state licensed appraisers with the MAI designation from the Appraisal Institute. The appraisals were prepared based on an unlevered, ten-year discounted cash flow analyses, with an appraisal for each of the Company’s wholly owned properties as of September 30, 2025