February 20, 2019
Inland Real Estate Income Trust said recently its long-term strategic plan is to move toward a liquidity event, most likely through a listing on a public securities exchange. The plan centers around owning a portfolio of 100% 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 CEO of Oak Brook, IL-based Inland Real Estate Investment Corporation, the nonlisted REIT’s sponsor. “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.”
As part of this strategy, Inland Income Trust will consider selling certain non-core assets, with the goal of redeploying capital into strategically located grocery-anchored centers. It currently owns 59 retail properties in 24 states, totaling more than six million square feet.
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