Inland Real Estate Income Trust acquires 8 grocery-anchored properties for $278M, adds $300M term loans

Inland Real Estate Income Trust, Inc.

Acquired eight properties totaling 686,851 sq ft for $278M, funded by $5.6M cash and $300M new term loans.
Credit agreement amended to add $300M term loans maturing Feb 2027; leverage ratio temporarily raised to 62.5% until Mar 2023.
Portfolio grows to $1.4B in assets, 52 properties, and 7.2M sq ft; 89% leased with weighted average lease term of 6.3 years.
Transaction with affiliate of sponsor; approved by independents; no fees paid to Inland or affiliates; Barclays advised.
Properties span 7 states, anchored by Whole Foods, Ralphs, Sprouts, Trader Joe's, Giant Food; average rent $25.88/sq ft.

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