logo
Share SHARE
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
Kellogg's is entering into restaurant business with the opening of a new cafe in New York City, exclusively for cereals that may cost around $8 per bowl, reports said. The cafe, to be known as Kellogg's NYC, will be launched officially on July 4 in the heart of Times Square. Small businesses, who want to use Twitter to connect with their customers, have a new helper. The online social networking service provider has launched a standalone application: Twitter Dashboard. The company said in blog post that the new service is launching into beta in the U.S. and is available online at dashboard.twitter.com or via the Dashboard app in the App Store. Nike Inc. (NKE), the world's largest athletic shoes and apparel maker, Tuesday said its fourth-quarter profit dropped 2 percent from a year ago, hurt largely by lower-than-expected revenues and weak margins. Shares of the company slipped over 6 percent in the after-hours trading. Beaverton, Oregon-based...
comments powered by Disqus
Follow RTT