Inland Real Estate Income Trust, Inc. agreed to acquire Grocery-anchored retail portfolio from a fund managed by Inland Institutional Capital, LLC for Approximately $280 million.
May 09, 2022
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Inland Real Estate Income Trust, Inc. (OTCPK:INRE) agreed to acquire Grocery-anchored retail portfolio from a fund managed by Inland Institutional Capital, LLC for Approximately $280 million on May 5, 2022. The Company expects to fund the Purchase Price and any closing costs primarily by making a draw on its credit facility and with cash on hand. JLL represented the seller.
The JLL Capital Markets team representing the seller was led by Managing Director Bill Moylan and Senior Managing Director and Co-Head of U.S. Retail Capital Markets Chris Angelone, along with Senior Managing Directors Barry Brown, James Galbally, Jim Hamilton and Geoff Tranchina and Managing Director Amy Sands. The transaction is anticipated to close on May 17, 2022.
Inland Real Estate Income Trust, Inc. is a real estate investment trust that acquires and manages a portfolio of commercial real estate investments located in the United States. The Company invests in joint ventures or acquires other real estate assets such as office and medical office buildings, multi-family properties and industrial/distribution and warehouse facilities. It is also focused on investing in real estate-related equity securities of both publicly traded and private real estate companies, as well as commercial mortgage-backed securities (CMBS). The Company's investment properties include Newington Fair, Wedgewood Commons, Park Avenue, North Hills Square, Mansfield Shopping Center, MidTowne Shopping Center, Settlers Ridge, Pick N Save Center, Wilson Marketplace, Regal Court, Pentucket Shopping Center, Blossom Valley Plaza, Branson Hills Plaza, Walgreens Plaza, and Fox Point Plaza. The Company owns approximately 52 retail properties, totaling 7.2 million square feet.
Inland Real Estate Income Trust, Inc. agreed to acquire Grocery-anchored retail portfolio from a fund managed by Inland Institutional Capital, LLC for Approximately $280 million.
INLAND REAL ESTATE INCOME TRUST, INC. 
