The Board of Directors of Income Opportunity Realty Investors, Inc. appointed Erik L. Johnson, age 53, Chief Financial Officer of the company. Mr. Johnson has been Executive Vice President and Chief Financial Officer (since August 17, 2020) of Transcontinental Realty Investors, Inc. (“TCI”) and American Realty Investors, Inc. (“ARL”), both of whose Common Stock is listed and traded on the New York Stock Exchange (the “NYSE”). He is also Chief Financial Officer (since July 1, 2020) of Pillar Income Asset Management, LLC (“Pillar”). Mr. Johnson, a Certified Public Accountant, was most recently Vice President of Financial Reporting of The Macerich Company in Santa Monica, California, a position he held for more than the past five years, from 2005 through June 2020. Mr. Johnson was, from 2001-2005, Controller/Chief Accounting Officer of North American Scientific, Inc., based in Los Angeles, California, and, from 2000-2001, he was Controller of Launch Media, Inc. in Santa Monica, California.