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Inland Private Capital Corporation sold two wholesale club properties, located in Attleboro, Massachusetts and Baltimore, Maryland, on behalf of East Coast Wholesale Portfolio DST, one of its 1031 exchange Delaware statutory trust investment programs. “Throughout the pandemic, we observed aggressive capitalization rate compression on essential business tenants such as warehouse clubs, especially throughout the triple net lease segment of the market. Given the potential for strong valuations, we decided to market the portfolio for sale, resulting in a favorable outcome to investors with average annualized returns ranging from 8.9 to 10.9 percent,” said Keith Lampi, president and chief operating officer of IPC.
Inland Green Capital LLC, an environmental finance and investment company, closed and funded a commercial Property Assessed Clean Energy (“C-PACE”) transaction in Mokena, Illinois. The funding, which closed in December 2021, will provide 100 percent financing for rooftop solar PV installations and roof replacements. The C-PACE project is expected to provide the two buildings with about $265,000 in savings over the 25-year financing term, while creating an average of 66 percent of their own overall energy and saving over 1,000 metric tons of CO2e from entering the atmosphere.
Inland Private Capital Corporation announced that it has sold two BJ’s Warehouse stores. The 115,660-square-foot Attleboro, Massachusetts, property and the 89,348-square-foot Baltimore store were acquired by Inland in 2016. The private placement investment-focused company stated that the return to stakeholders in the properties was 154%.
Blue Vault received December sales totals for ten nontraded REIT program offerings as of January 15, 2022. Sales reported by those ten NTRs totaled $537.4 million, up 21.4% from $442.5 million in November, but up 179% year-over-year from the $116.7 million in sales in December 2020. Among reporting nontraded REITs, InPoint Commercial Real Estate Income, Inc. reported a 150% increase from November to December 2021.
Inland Private Capital Corporation, a sponsor of securitized 1031 exchange offerings, has sold a 125,000-square-foot industrial facility located in Syracuse, New York for $13.4 million on behalf of New York Power DST, one of its 1031 Delaware statutory trust investment programs.
Inland Venture Partners, LLC, the private equity real estate arm of Inland Real Estate Investment Corporation, today announced that MH Ventures 2019-1, LLC, a Delaware limited liability company, sold a portfolio of 13 manufactured housing communities in Florida providing an estimated average annual fund-level return, through the end of 2021, of 52 percent.
