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Zalatoris to Replace Sabshon as President and CEO of Inland REIT

Zalatoris to Replace Sabshon as President and CEO of Inland REIT. Retirement, CEO, real estate investment trust, REIT, Inland Real Estate Investment Corporation, Inland REIT, Inland, Zalatoris, Sabshon, Lampi, alternative investments

Mitchell A. Sabshon, president and CEO of Inland Real Estate Income Trust Inc., notified the REIT that because of his decision to retire from his positions with Inland Real Estate Investment Corporation (Inland Investments), he would also resign from his positions as president, CEO, and a director of Inland REIT, effective at the close of business on Jan. 31, 2024. According to Inland Investments and its sponsored entities, the decision was not the result of any disagreement related to the companies’ operations, policies, or practices.

In response to Sabshon’s resignation, the Inland REIT board elected Mark E. Zalatoris to serve as president and CEO and as a director of Inland REIT, effective Feb. 1, 2024. Zalatoris will receive compensation for these new responsibilities equal to $350,000 per year. The initial term of the agreement is for one year. The agreement may be terminated by Inland REIT at any time for cause, or by Zalatoris for any reason or no reason upon ninety 90 days’ written notice.

As previously reported by The DI Wire, Sabshon decided to retire from his positions of president, CEO, and as a director of Inland Investments, and the board of directors appointed Keith Lampi as its next president and CEO. At that press time, it was thought that Sabshon would remain in his role at the publicly registered, non-listed Inland REIT.

Since 2018, Zalatoris has been the lead independent director of Parkway Bancorp and wholly owned subsidiary, Parkway Bank. He also served in multiple positions at IRC Retail Centers, including as a member of the board of directors, president and CEO from 2008-2017; executive vice president and chief operating officer from 2004-2008; and senior vice president, chief financial officer, and treasurer from 2000-2004. Zalatoris earned his master’s degree in accounting science from University of Illinois, Urbana-Champaign.

Headquartered in Oak Brook, Ill., Inland Investments is one of the nation’s largest investment managers of both public and private real estate securities products. 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. As of June 30, 2022, the company owned 52 retail properties located in 24 states.

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