The board of Inland Real Estate Income Trust Inc., a publicly registered, non-traded real estate investment trust, made a filing with the Securities and Exchange Commission announcing an unsolicited tender offer from Comrit Investments 1 LP, a Tel Aviv-based investment fund.
Comrit is offering to purchase up to 1,850,000 shares of common stock of the company at a price of $11.21 per share. The company announced an estimated net asset value per share of $19.86 as of December 31, 2022, according to its Form 8-K filed with the Securities and Exchange Commission on March 6, 2023.
Shares of Inland REIT most recently traded on LODAS Markets, previously known as Realto, for $14.15.
Inland Real Estate Income Trust, sponsored by Inland Real Estate Investment Corporation, is focused on acquiring grocery-anchored retail assets. The company commenced operations in October 2012 and closed the offering in October 2015 after raising $834.4 million, excluding proceeds from the company’s distribution reinvestment plan.