Inland Real Estate Corporation (IRC: Quote) 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
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