Inland Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by Inland Real Estate Investment Corporation, announced that it will close its current “best efforts” public offering to new investors on October 16, 2015 and will not accept any investments after this date.
Inland Income Trust is presently offering up to 150,000,000 shares of its common stock for sale at $10 per share and up to an additional 30,000,000 shares of its common stock for issuance under its distribution reinvestment plan at $9.50 per share. Inland Income Trust is focused on the acquisition of multi-tenant, necessity-based retail shopping centers primarily in major regional markets and growing secondary markets throughout the United States. Inland Securities Corporation is the managing broker dealer for the “best efforts” offering.
Inland Real Estate Income Trust, Inc. was formed to acquire, directly or indirectly, a portfolio of commercial real estate located throughout the United States. Inland Real Estate Income Trust, Inc. is focused on acquiring primarily core multi-tenant necessity-based retail shopping centers. Inland Real Estate Income Trust, Inc. is sponsored by Inland Real Estate Investment Corporation.
As of March 31, 2015, Inland Income Trust’s total portfolio consisted of 42 retail properties, substantially all of which are necessity-based, totaling approximately 3.8 million square feet and located in 16 states, with an average economic occupancy of 96.2 percent and an aggregate purchase price of more than $663 million.
As of June 30, 2015, the REIT had sold 71.3 million shares for gross proceeds of $709.3 million.