Inland Real Estate Income Trust is a non-traded REIT that owns and operates a portfolio of grocery-anchored retail shopping centers across the U.S. As of December 31, 2025, the company owned 52 retail properties totaling 7.2M square feet, with grocery-anchored or grocery shadow-anchored properties representing 87% of annualized base rent (ABR). The portfolio focuses on necessity-based, multi-tenant retail centers in major regional and growing secondary markets. Grocery stores act as traffic anchors that draw consumers and support surrounding smaller tenants; shadow-anchored properties sit near a grocery store that drives traffic but is not a tenant. Anchor and big-box tenants account for 49% of ABR, small shop tenants 38%, and junior box tenants 13%. Portfolio occupancy was approximately 92% as of year-end 2025. Inland Real Estate Income Trust generates revenue by leasing retail space and collecting base rent, with ABR of roughly $19.57 per square foot. As a REIT, the company distributes at least 90% of taxable income to stockholders. The company is externally managed by affiliates of sponsor Inland Real Estate Investment Corporation, with no employees of its own. The portfolio has been static since 2022, with no acquisitions or dispositions. The board explored a sale in late 2024 through 2025 but did not pursue a transaction. The stock is not publicly listed, and stockholder liquidity is limited to a share repurchase program. The board has indicated it may pursue a sale, merger, or public listing in the future, but has committed to no timeline.