Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 51

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 16
Chunk 51
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 the likelihood that a property will be sold before the end of its previously estimated useful life.

•Inquiring and obtaining representation from the Company regarding the status and evaluation of any potential disposal of properties. We corroborated that information with others in the organization who are responsible for, and have authority over, disposition activities.

•Examining the Company’s analysis of internal financial information for indications of a decrease in the fair value of the Company’s properties resulting from continued decline in operating performance of the Company’s properties.

/s/ KPMG LLP

We have served as the Company’s auditor since 2011.

Chicago, Illinois

March 5, 2025

73

INLAND REAL ESTATE INCOME TRUST, INC.

CONSOLIDATED BALANCE SHEETS

(Dollar amounts in thousands, except per share amounts)

    December 31, 2024

    December 31, 2023

    ASSETS

    Assets:

    Investment properties held and used:

    Land
    $
    330,456

    $
    330,456

    Building and other improvements
     
    1,226,896

    1,209,740

    Total
     
    1,557,352

    1,540,196

    Less accumulated depreciation
     
    (385,932
    )

    (335,700
    )

    Net investment properties held and used
     
    1,171,420

    1,204,496

    Cash and cash equivalents
     
    6,416

    5,975

    Restricted cash
     
    480

    479

    Accounts and rent receivable
     
    23,355

    23,645

    Acquired lease intangible assets, net
     
    49,052

    61,827

    Operating lease right-of-use asset, net
     
    13,359

    13,745

    Other assets
     
    30,743

    33,873

    Total assets
    $
    1,294,825

    $
    1,344,040

    LIABILITIES AND EQUITY

    Liabilities:

    Mortgages and credit facility payable, net
    $
    835,746

    $
    843,890

    Accounts payable and accrued expenses
     
    10,792

    11