Inland Real Estate Income Trust Announces CEO Transition
Inland Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust, announced a significant leadership transition following the retirement of its long-time leader. Effective Feb. 2, 2026, Bernard J. Michael has assumed the roles of president and chief executive officer, succeeding Mark E. Zalatoris.
At the end of January, Zalatoris notified the board of directors of his intent to resign from his executive positions. Zalatoris also stepped down as a member of the board. The company noted that his departure was not due to any disagreements and wished him well in his retirement after years of service.
The transition comes shortly after the company reported an estimated net asset value of $16.89 per share, a decrease from the $19.17 reported in March 2024, citing market difficulties such as high interest rates and 2025 tariffs.
Michael, 66, had been a member of the REIT’s board since September 2014. With his new roles, he will continue his directorship but will no longer qualify as an independent director. Consequently, he has resigned from his positions on the audit, compensation, and nominating and corporate governance committees.
Michael brings extensive real estate and legal experience to the role. He co-founded AWH Partners LLC, where he oversaw more than $1.4 billion in hotel investments and over $300 million in redevelopment projects. Over a 25-year legal career, he also specialized in sophisticated real estate transactions, including major New York City developments such as the Time Warner Center and Hudson Yards.
He is a graduate of Brown University and New York University School of Law.
To fill the vacancy left by Zalatoris, the board elected Alan Feldman, 62, as a Class II director, effective immediately. Feldman is a senior fellow at the Zell-Lurie Real Estate Center at The Wharton School and has held leadership roles in several other REITs, including serving as CEO and chairman of Resource REIT until its acquisition by Blackstone Real Estate Income Trust in 2022.
Feldman will serve as an independent director and take on several committee responsibilities: chair of the nominating and corporate governance committee; and member of both the audit and compensation committees.
In addition to these appointments, Steven Davis was named the new lead independent director, succeeding Lee Daniels, who stepped down from the role but remains on the board. Daniels had taken over as chair of the compensation committee, the position previously held by Michael.
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