Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 2

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 1
Chunk 2
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 review, the Company, through the financial advisor, commenced an outreach to entities viewed as potential purchasers seeking offers for the entire Company. This process is continuing as of the date of this report but there is no assurance that a sale, merger or other transaction creating a liquidity event will result from the process or the price or value that may be agreed upon in any such transaction. The board may further reevaluate other alternatives or decide to suspend or terminate its review of strategic alternatives. We will provide updates as the Company considers appropriate or as required under applicable law. The outcome of the board’s review and any potential transaction or other liquidity event continues to depend on several factors including market conditions such as interest rates, trading multiples for REITs and capital availability for real estate investment, many of which are beyond our control. Further, our board may conclude that it is in our best interest to continue operating pursuant to our existing strategic plan. During the pendency of this review, we do not expect to acquire any properties or redevelop existing properties although we may sell properties on an individual basis. We will continue to be impacted by evolving retail market conditions and other factors such as (i) competition for our tenants from evolving internet businesses, (ii) the state of the commercial real estate market and financial markets, (iii) changes in general economic conditions such as interest rates which may increase or not decline at the rate previously contemplated by market participants, among other factors, and (iv) the rate of actual and expected inflation. Inflationary pressures and volatility in interest rates, in particular, could reduce consumer spending and adversely impact retailer profitability. See also, Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations below.

3

There is no established trading market for our common stock. To assist broker dealers with satisfying their customer account statement requirements under FINRA Rule 2231, our board has historically published an estimated per share net asset value, referred to herein as “Estimated Per Share NAV.” Our board last published an estimate in March 2024 but does not intend to publish a new estimate while reviewing or considering strategic alternatives. The estimate is dated and should no longer be used for any purpose. The estimate represented a snapshot in time of a range of values that would likely change over time and was subject to several assumptions, estimates and data that were inherently imprecise and susceptible to uncertainty. The estimate was not intended to be, and is not, indicative of the per share value that may result from a sale, merger or other transaction. The board