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Debt
 9 Months Ended
Sep. 30, 2025
Notes and Loans Payable [Abstract]  
Debt Debt
The Company's debt consists of mortgages payable, unsecured term loans, senior notes, an unsecured revolving line of credit, and a finance lease liability. The Company believes it has the ability to repay, refinance, or extend any of its debt, and that it has adequate sources of funds to meet short-term cash needs. It is anticipated that the Company will use proceeds from property sales, cash on hand, and available capacity on credit agreements, if any, to repay, refinance or extend the mortgages payable maturing in the near term.
The Company's credit agreements and mortgage loans require compliance with certain covenants, such as debt service coverage ratios, investment restrictions, and distribution limitations. As of September 30, 2025 and December 31, 2024, the Company was in compliance with all loan covenants.
Mortgages Payable
On April 1, 2025, the Company assumed a $7,981 mortgage payable upon the acquisition of Plaza Escondida.
On May 9, 2025, the Company extinguished a $13,000 mortgage payable secured by The Plant with its available liquidity.
On August 7, 2025, the Company assumed a $22,281 mortgage payable upon the acquisition of Asheville Market.
Credit Agreements
The Company has a $500.0 million revolving credit facility (the "Revolving Credit Facility"). The Revolving Credit Facility is scheduled to mature on January 15, 2029, with one 6-month extension option. On August 25, 2025, the Company entered into an amendment to the Revolving Credit Facility (the "Revolving Credit Facility Amendment"), which modified the applicable interest rate thereunder by removing the credit spread adjustment to SOFR, in addition to other modifications. As of September 30, 2025, the Company had available liquidity of $500.0 million under the Revolving Credit Facility.
On August 25, 2025, the Company entered into an amendment (the "Term Loan Amendment") to its $400.0 million Term Loan Credit Agreement (the "Amended Term Loan Agreement"), which provides for, among other things, an extension of the maturity dates of each tranche. The Amended Term Loan Agreement consists of a $200.0 million 5-year tranche maturing on August 26, 2030, and a $200.0 million 5.5-year tranche maturing February 24, 2031. The Term Loan Amendment also modified the interest rates, with each tranche bearing interest at a rate equal to, at the Company's option, term SOFR, daily simple SOFR or the adjusted base rate (with no credit spread adjustment) plus a margin ranging from 115 to 160 basis points (in the case of SOFR loans) and 15 to 60 basis points (in the case of base rate loans), in each case, based on the Company’s leverage ratio.
Senior Notes
The Company issued $250.0 million aggregate principal amount of senior notes in a private placement, of which (i) $150.0 million are designated as 5.07% Senior Notes, Series A, due August 11, 2029 (the "Series A Notes") and (ii) $100.0 million are designated as 5.20% Senior Notes, Series B, due August 11, 2032 (the "Series B Notes" and, together with the Series A Notes, the "Notes"). The Notes were issued at par and pay interest semiannually on February 11th and August 11th until their respective maturities. The Notes will be required to be absolutely and unconditionally guaranteed by certain subsidiaries of the Company that guarantee certain material credit facilities of the Company. Currently, there are no subsidiary guarantees of the Notes.
Finance Lease Liability
On June 10, 2025, in connection with its acquisition of West Ashley Station, the Company assumed a ground lease and recognized a related finance lease liability of $10,973. As of September 30, 2025, the balance of the finance lease liability was $11,033. See "Note 11. Commitments and Contingencies".
The following table summarizes the Company's debt as of September 30, 2025 and December 31, 2024:
As of September 30, 2025As of December 31, 2024
MaturityRate TypeInterest RateAmountInterest RateAmount
Mortgages Payable
Total mortgages payableVariousFixed
4.18% (a)
$110,424 
3.97% (a)
$93,380 
Term Loan
$200.0 million 5 year
Aug-30Fixed
2.66% (b)
100,000 
2.81% (b)
100,000 
$200.0 million 5 year
Aug-30Fixed
2.66% (b)
100,000 
2.81% (b)
100,000 
$200.0 million 5.5 year
Feb-31Fixed
2.63% (c)
50,000 
2.78% (b)
50,000 
$200.0 million 5.5 year
Feb-31Fixed
2.69% (c)
50,000 
2.84% (b)
50,000 
$200.0 million 5.5 year
Feb-31Fixed
4.84% (c)
100,000 
4.99% (b)
100,000 
Total400,000 400,000 
Senior Notes
$150.0 million Series A Notes
Aug-29Fixed
5.07%
150,000 5.07%150,000 
$100.0 million Series B Notes
Aug-32Fixed
5.20%
100,000 5.20%100,000 
Total250,000 250,000 
Revolving Line of Credit
$500.0 million total capacity
Jan-29Variable
1M SOFR +
 1.05% (d)(e)
— 
1M SOFR +
1.15% (d)(e)
— 
Total secured and unsecured debt3.98%760,424 4.03%743,380 
Finance Lease Liability
West Ashley Station Ground LeaseJan-92N/AN/A11,033 N/AN/A
Debt discounts and financing costs, net(6,885)(2,965)
Debt, net$764,572 $740,415 
(a)Interest rates reflect the weighted average of the Company's mortgages payable.
(b)Interest rates reflect the fixed rates achieved through the Company's effective interest rate swaps terminating on September 22, 2026, at which point the fixed interest rate will become 4.50%.
(c)Interest rates reflect the fixed rates achieved through the Company's effective interest rate swaps terminating on March 22, 2027, at which point the weighted average fixed interest rate will become 4.58%.
(d)As of September 30, 2025 and December 31, 2024, 1-Month Term SOFR was 4.13% and 4.33%, respectively.
(e)Interest rate applies to drawn balance only. An additional annual facility fee of 0.15% applies to entire line of credit capacity.
The following table summarizes the scheduled payments and maturities of the Company's debt as of September 30, 2025:
Scheduled maturities by year:Mortgage PaymentsMortgage MaturitiesTerm Loan &
Senior Notes		Total
Remaining 2025$189 $22,880 $— $23,069 
2026773 — — 773 
2027810 26,000 — 26,810 
2028495 21,321 — 21,816 
2029449 31,500 150,000 181,949 
Thereafter154 5,853 500,000 506,007 
Total$2,870 $107,554 $650,000 $760,424 
Finance lease liability11,033 
Debt discounts and financing costs, net(6,885)
Total Debt, net$764,572 
Interest Rate Swaps
During the three months ended September 30, 2025, in connection with the execution of the Term Loan Amendment, the Company entered into four forward-starting interest rate swap agreements.
As of September 30, 2025, the Company was party to five effective and four forward-starting interest rate swap agreements, which address the periods between the termination dates of the effective swaps and the maturity dates of the Amended Term Loan Agreement. In tandem, the interest rate swaps achieve fixed interest rates for a constant notional amount through the maturity dates of the Amended Term Loan Agreement.

The following table summarizes the Company's effective interest rate swaps as of September 30, 2025:
Effective
Interest Rate Swaps		Effective
Date		Termination
Date		InvenTrust
Receives		InvenTrust Pays
Fixed Rate of		Fixed Rate
Achieved (a)		Notional
Amount
5.5 year Term Loan
4/3/233/22/271-Month SOFR3.69%4.84%$100,000 
5 year Term Loan
12/21/239/22/261-Month SOFR1.51%2.66%100,000
5 year Term Loan
12/21/239/22/261-Month SOFR1.51%2.66%100,000
5.5 year Term Loan
6/21/243/22/271-Month SOFR1.54%2.69%50,000
5.5 year Term Loan
6/21/243/22/271-Month SOFR1.48%2.63%50,000
$400,000 
(a)Interest rates reflect the Company's current credit spread of 1.15%.

The following table summarizes the Company's forward-starting interest rate swaps as of September 30, 2025:
Forward-Starting
Interest Rate Swaps		Effective
Date		Termination
Date		InvenTrust
Receives		InvenTrust Pays
Fixed Rate of		Fixed Rate
Achieved (a)		Notional
Amount
5 year Term Loan
9/22/268/26/30Daily SOFR3.35%4.50%$100,000 
5 year Term Loan
9/22/268/26/30Daily SOFR3.35%4.50%100,000
5.5 year Term Loan
3/22/272/24/31Daily SOFR3.42%4.57%100,000
5.5 year Term Loan
3/22/272/24/31Daily SOFR3.43%4.58%100,000
$400,000 
(a)Interest rates reflect the Company's current credit spread of 1.15%.