FONT-SIZE Plus   Neg

Inland Real Estate Reveals JV Acquisition Of Seven Properties - Quick Facts

Inland Real Estate Corp. (IRC) said Monday it has contributed $15 million to its joint venture with Inland Private Capital Corp. to acquire for $40.8 million two portfolios that include seven single-tenant retail properties.

The company said the joint venture acquired a portfolio of two free-standing stores net leased to CVS Pharmacy and one asset that is net leased to Walgreens, for a purchase price of $17.1 million. The venture also acquired for $23.7 million a second portfolio which includes one asset that is net leased to CVS, plus three properties that are net leased to Walgreens.

Simultaneous with the closing, the joint venture placed loans totaling $25.8 million on the portfolios, the company said.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
It may be bad news for Etsy. The online source of cute, homespun crafts is not facing a cute, homespun rival. Online retail behemoth Amazon.com (AMZN) has rolled out its arts-and-crafts bazaar online aiming to snatch share in the growing handcrafted market. Amazon Handmade, a marketplace with more... In a surprise move, Jet.com Inc., which is being projected as the most promising challenge to Amazon.com Inc, abandoned its $50 annual membership fee. The discount-shopping site was launched three months back. Aiming for customers that prefer goods made with a little love, Amazon has launched Handmade, an online market selling artisan goods from around the world.
comments powered by Disqus
Trade IRC now with 
Follow RTT