Comrit Investments 1 LP, a Tel Aviv-based investment fund, has made a filing with the SEC indicating their intent to launch an unsolicited tender offer to purchase up to 1.85 million shares of Inland Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust, for $12.51 per share in cash. Upon the potential launch, the offer is expected to expire on Dec. 29, 2022.
Inland REIT’s most recent estimated net asset value per share was $20.20, as of Dec. 31, 2021.
If the total amount of shares sought is purchased, the capital commitment by Comrit will be approximately $25.9 million.
Inland Real Estate Income Trust Inc., sponsored by Inland Real Estate Investment Corporation, is focused on acquiring grocery-anchored retail assets. The company raised more than $834 million in investor equity via an initial public offering that commenced in October 2012 and concluded in October 2015. As of June 30, 2022, the company owned 52 retail properties located in 24 states.
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EDITOR’S NOTE: This article has been updated to accurately reflect the intentions of Comrit Investments 1 LP.