logo
Share SHARE
FONT-SIZE Plus   Neg

Inland Real Estate Announce Purchase Of Two Shopping Centers In JV - Quick Facts

Inland Real Estate Corporation (IRC) Thursday announced that its joint venture with PGGM has acquired two retail properties for an aggregate purchase price of approximately $43 million, excluding closing costs and adjustments.

The company stated that the joint venture has acquired Elston Plaza, a grocery-anchored center located in Chicago, Illinois, for $18.9 million. The joint venture has also purchased another grocery-anchored center, Brownstones Shopping Center, located in Brookfield, Wisconsin, for $24.1 million.

The venture anticipates placing financing on the assets at leverage levels consistent with its existing business plan.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Procter & Gamble Co., (PG) Tuesday announced the promotion of David Taylor to the role of Chief Executive Officer, as the consumer goods giant replaces Chief Executive A.G. Lafley for the second time. David Taylor, a 35-year-veteran and currently Group President of Global Beauty, Grooming and Health... Anadarko Petroleum reported a plunge in second-quarter profit, hurt by weak oil prices, partly offset by some derivative gains. However, its earnings topped Street estimates, driven by operational efficiencies and sales of higher-margin oil. Anadarko shares... Micro-blogging site Twitter Inc said Tuesday after the markets closed that its second quarter net loss narrowed from last year, as revenue surged 61%. The company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
Follow RTT