SCM Special Fund 3, LP managed by Sutter Capital Management LLC along with MPF Flagship Fund 14, LLC, MPF Northstar Fund, LP, Coastal Realty Business Trust, MPF Northstar Fund 2, LP, Mackenzie Badger Acquisition Co. 4, LLC and Mackenzie Northstar Fund 3, LP managed by MacKenzie Patterson Fuller, LP made an offer to acquire 5.62% stake in Inland Real Estate Income Trust, Inc. for $23.3 million on September 10, 2018. Pursuant to the offer, the purchasers will acquire 2 million shares of Inland at a price of $11.65 per share. The Purchasers currently have sufficient funded capital, including approximately $40 million in total assets at disposal, to fund all of their commitments under this offer. As of September 21, 2018, Inland Real Estate Income Trust Board unanimously rejects the tender offer as the offer price of $11.65 per share is approximately 48% less than the most recent $22.35 estimated NAV per share, which the Board determined as of December 31, 2017 and recommends its shareholders to reject the tender offer and not tender their Shares for purchase pursuant to the Offer. The transaction is subject to regulatory and court approvals and will expire on October 31, 2018. MacKenzie Patterson Fuller, LP acted as depositary to the transaction. SCM Special Fund 3, LP managed by Sutter Capital Management LLC along with MPF Flagship Fund 14, LLC, MPF Northstar Fund, LP, Coastal Realty Business Trust, MPF Northstar Fund 2, LP, Mackenzie Badger Acquisition Co. 4, LLC and Mackenzie Northstar Fund 3, LP managed by MacKenzie Patterson Fuller, LP cancelled the acquisition of 5.62% stake in Inland Real Estate Income Trust, Inc. on September 21, 2018.