Inland Real Estate Income Trust, Inc. Outlines Strategic Plan for Future Liquidity
February 15, 2019 | Inland Real Estate Investment Corporation
Inland Real Estate Income Trust, Inc. (“Inland Income Trust” or “the REIT”), a publicly registered, non-traded real estate investment trust, announced today a long-term strategic plan to move toward a liquidity event, most likely through a listing on a public securities exchange, in the next 24 to 36 months or sooner, market conditions permitting. The strategic plan centers around owning a portfolio of 100 percent grocery-anchored shopping centers with lower exposure to big box retailers.
“As some forms of retail real estate are in transition, grocery-anchored neighborhood shopping centers continue to deliver solid performance,” said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. “Grocery-anchored centers have high levels of foot traffic and serve as a draw for smaller, necessity-based retailers. We believe that an expanded grocery-anchored portfolio will allow us to drive operating performance and better position the REIT for a successful liquidity event.”
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As part of this strategy, Inland Income Trust’s management team and board will consider selling certain non-core assets in its current portfolio, with the goal of redeploying capital into strategically located grocery-anchored centers. Inland Income Trust currently owns 59 retail properties in 24 states, totaling more than six million square feet.
