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
Schaeffler AG, the German auto parts maker owned by the Schaeffler family, Thursday set its initial public offering price at 12.50 euros per share. The company raised gross proceeds of about 938 million euros by offering 75 million shares, of which 66 million from Schaeffler AG and the remaining 9... Dick Costolo, who stepped down as CEO of Twitter in June, is taking a bit of a career turn - to Hollywood. The one-time tech darling left Twitter after 5 years at the helm amid Wall Street concerns about the future of the social media giant. Now he will be consulting on story lines for the HBO series Silicon Valley. Formula One is reportedly near a deal that would sell the racing circuit to an investor group that includes the owner of the Miami Dolphins. The Financial Times reports that the purchase price for the racing company is $8.5 billion. According to the paper, Dolphins owner Stephen Ross has reached a hand-shake agreement with CVC, a private equity firm holding a 35.5 percent stake in Formula One.
comments powered by Disqus
Trade IRC now with 
Follow RTT