Inland Real Estate Income Trust to Examine Strategic Alternatives, Possible Sale
Inland Real Estate Income Trust, Inc., a publicly registered, non-traded real estate investment trust, said its board of directors has begun a process to examine strategic alternatives, including the sale of the REIT, according to information provided late Wednesday.
As previously announced, the REIT has been working on a strategic plan that includes owning a portfolio of grocery-anchored properties with less exposure to large box retailers and launching the company’s common shares on a national securities exchange.
The company aims to hire a financial advisor to assist with the strategic review. There is no guarantee that the review will result in a transaction, the company stated. The company does not intend to discuss or reveal developments in the process unless and until it is found that additional disclosure is appropriate or required by regulation or law. A formalized timetable has not been established for the completion of the review.
The company suspended its distribution reinvestment plan and share repurchase program in a letter to its stockholders in conjunction with the evaluation of the strategic alternatives.
