Inland Real Estate Income Trust acquires 8 retail properties for $278M, funded with $300M term loans

Inland Real Estate Income Trust, Inc.

Acquired 8 grocery-anchored retail properties (686,851 sq ft) from related-party Inland Retail Property Fund LP for $278M.
Acquisition funded with $5.6M cash and $300M term loans under credit facility at ~3.8% weighted average interest rate.
Properties had combined revenues of $23.9M (2021) and $5.9M (Q1 2022); one property at 46.8% occupancy.
Pro forma net loss for 2021 increases from $2.5M to $13.3M due to added interest and depreciation expenses.
Weighted average remaining lease term 6.3 years; all independent directors approved the related-party transaction.

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