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Product
InPoint Commercial Real Estate Income, Inc. is a commercial mortgage real estate investment trust (REIT)
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Structure
Perpetual life Net Asset Value (NAV) REIT
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Sponsor/Sub-Advisor
Sponsor: Inland Real Estate Investment Corp. via Inland InPoint Advisor, LLC
Sub-Advisor: Sound Point Capital Management, L.P. via SPCRE InPoint Advisors, LLC -
Maximum Offering
$2.35 billion total: $2 billion primary offering + $350 million distribution reinvestment plan
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Offering Price
InPoint’s prior month’s NAV per share (transaction price) for such class as of the last calendar day of such month (subject to material changes), plus applicable selling commission and dealer manager fees.
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Subscriptions/NAV Frequency
- Monthly purchases on the first business day of each month; subscription requests must be received at least five business days prior to the first calendar day of the month.
- Transaction price will generally be available within 15 calendar days of month end. Transaction price will be available on inland-investments.com/inpoint and in prospectus supplements. If the transaction price is not made available on or before the 8th day prior to the first calendar day of the month, or a previously disclosed transaction price for that month is changed, then InPoint will provide notice of such transaction price to subscribing investors.
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Distributions
Expected monthly but not assured. No right to receive. Subject to board authorization.
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Suitability Standards
Either (1) a net worth of at least $250,000 or (2) a gross annual income of at least $70,000 and a net worth of at least $70,000. Certain states have additional suitability standards. See the prospectus for more information.
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Distribution Reinvestment Plan
Cash distributions attributable to the class of shares owned will be invested in additional shares of the same class, and participating holders of Class P shares will receive Class I shares. Purchase price will be equal to the transaction price for such shares at the time the distribution is paid. No upfront selling commissions; however, all outstanding Class T, Class S and Class D shares, including those purchased under our distribution reinvestment plan, will be subject to ongoing stockholder servicing fees.
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Share Repurchase Plan
Repurchases will be made at the transaction price, which is generally equal to the prior month’s NAV (subject to material changes). Shares must be held for at least one year. Overall limit of 2% monthly and 5% of NAV per quarter. Under normal circumstances, we intend to repurchase monthly but are not obligated to repurchase any shares and may choose to repurchase only some, or even none, of the shares that have been requested to be repurchased in any month in our discretion. The SRP is subject to other limitations, and our board may modify, suspend or terminate the plan at any time.
August and September 2021: Total amount of aggregate repurchases of shares (including Class P shares) expected to be limited to no more than 1% of our aggregate NAV per month as of the last day of the previous calendar month and no more than 2.5% of our aggregate NAV per calendar quarter as of the last day of the previous calendar quarter.
Beginning on October 1, 2021: Total amount of aggregate repurchases of shares (including Class P shares) will be limited to no more than 2% of our aggregate NAV per month and no more than 5% of our aggregate NAV per calendar quarter. For purposes of these limits, the aggregate NAV shall include the NAV of the outstanding shares of all classes. -
Tax Reporting
Form 1099-DIV
Share Class Specific Fees
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Availability
Through transactional/brokreage accounts
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Selling Commissions1
Up to 6.0%
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Dealer Manager Fees1
Up to 1.25%
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Stockholder Servicing Fees
0.0%
Advisor Fees and Expense Reimbursements
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Management Fee
1.25% per annum of average NAV, payable monthly.
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Performance Fee
20% of the excess total return, subject to a 7% annual hurdle, not to exceed 15% of aggregate annual total return. For any year in which the total return per each share class exceeds 7%, the advisor will receive 20% of such excess total return, except that a performance fee will not be earned on any increase in NAV per share up to an NAV of $25.00, unless this threshold is decreased by our board for an extraordinary event.
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Expense Reimbursements
The REIT will reimburse advisors for their REIT-related operating expenses (including personnel and related employment costs) up to 1.5% of the REIT's average monthly net assets. Operating expenses beyond the 1.5% limit can be paid for up to three years after they were incurred to the extent that the limit has not been reached for the future period.
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Availability
Through transactional/brokerage accounts
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Selling Commissions1
Up to 3.5%
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Dealer Manager Fees1
Up to 0.50%
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Stockholder Servicing Fees
0.85% (Up to 8.75% maximum)
Advisor Fees and Expense Reimbursements
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Management Fee
1.25% per annum of average NAV, payable monthly.
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Performance Fee
20% of the excess total return, subject to a 7% annual hurdle, not to exceed 15% of aggregate annual total return. For any year in which the total return per each share class exceeds 7%, the advisor will receive 20% of such excess total return, except that a performance fee will not be earned on any increase in NAV per share up to an NAV of $25.00, unless this threshold is decreased by our board for an extraordinary event.
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Expense Reimbursements
The REIT will reimburse advisors for their REIT-related operating expenses (including personnel and related employment costs) up to 1.5% of the REIT's average monthly net assets. Operating expenses beyond the 1.5% limit can be paid for up to three years after they were incurred to the extent that the limit has not been reached for the future period.
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Availability
Through transactional/brokreage accounts
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Selling Commissions1
Up to 3.5%
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Dealer Manager Fees1
0.0%
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Stockholder Servicing Fees
0.85% (Up to 8.75% maximum)
Advisor Fees and Expense Reimbursements
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Management Fee
1.25% per annum of average NAV, payable monthly.
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Performance Fee
20% of the excess total return, subject to a 7% annual hurdle, not to exceed 15% of aggregate annual total return. For any year in which the total return per each share class exceeds 7%, the advisor will receive 20% of such excess total return, except that a performance fee will not be earned on any increase in NAV per share up to an NAV of $25.00, unless this threshold is decreased by our board for an extraordinary event.
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Expense Reimbursements
The REIT will reimburse advisors for their REIT-related operating expenses (including personnel and related employment costs) up to 1.5% of the REIT's average monthly net assets. Operating expenses beyond the 1.5% limit can be paid for up to three years after they were incurred to the extent that the limit has not been reached for the future period.
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Availability
Through fee-based (wrap) programs, participating broker dealers with alternate fee arrangement, registered investment advisors and fiduciary accounts
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Selling Commissions
0.0%
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Dealer Manager Fees
0.0%
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Stockholder Servicing Fees
0.25% (Up to 8.75% maximum)
Advisor Fees and Expense Reimbursements
-
Management Fee
1.25% per annum of average NAV, payable monthly.
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Performance Fee
20% of the excess total return, subject to a 7% annual hurdle, not to exceed 15% of aggregate annual total return. For any year in which the total return per each share class exceeds 7%, the advisor will receive 20% of such excess total return, except that a performance fee will not be earned on any increase in NAV per share up to an NAV of $25.00, unless this threshold is decreased by our board for an extraordinary event.
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Expense Reimbursements
The REIT will reimburse advisors for their REIT-related operating expenses (including personnel and related employment costs) up to 1.5% of the REIT's average monthly net assets. Operating expenses beyond the 1.5% limit can be paid for up to three years after they were incurred to the extent that the limit has not been reached for the future period.
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Availability
Through fee-based (wrap) programs, participating broker dealers with alternate fee arrangement, endowments, registered investment advisors and fiduciary accounts
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Selling Commissions
0.0%
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Dealer Manager Fees
0.0%
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Stockholder Servicing Fees
0.0%
Advisor Fees and Expense Reimbursements
-
Management Fee
1.25% per annum of average NAV, payable monthly.
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Performance Fee
20% of the excess total return, subject to a 7% annual hurdle, not to exceed 15% of aggregate annual total return. For any year in which the total return per each share class exceeds 7%, the advisor will receive 20% of such excess total return, but only to the extent there is positive modified funds from operations (MFFO) over distributions payable since inception.
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Expense Reimbursements
The REIT will reimburse advisors for their REIT-related operating expenses (including personnel and related employment costs) up to 1.5% of the REIT's average monthly net assets. Operating expenses beyond the 1.5% limit can be paid for up to three years after they were incurred to the extent that the limit has not been reached for the future period.
This website is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the prospectus. This material must be read in conjunction with the prospectus in order to fully understand all of the implications and risks of the offering of securities to which the prospectus relates. A copy of the prospectus must be made available to you in connection with any offering. No offering is made except by a prospectus filed with the Department of Law of the State of New York. Neither the Securities and Exchange Commission, the Attorney-General of the State of New York nor any other state securities regulator has approved or disapproved of the securities, determined if the prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
This website contains forward-looking statements that are subject to risks and uncertainties. Please see “Risk Factors” for additional information.