Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, has sold Mariano’s Fresh Market in Arlington Heights, Illinois for $25.5 million on behalf of one of its 1031 investment programs. The sale resulted in a total return to the investors of 169 percent (calculated based on the aggregate amount of original capital invested in this property). In addition, the sale resulted in a 9.48 percent average annualized return to investors.
No matter what troubles shake the retail world, investors jump at the chance to pick up grocery stores, especially ones in relatively affluent areas.And CBRE just brokered the sale of a Mariano’s Fresh Market in Arlington Heights. Located at 802 E. Northwest Hwy., that 66,393-square foot property was sold by an affiliate of Inland Private Capital Corporation for $25.5 million.
The investment worked out well for Inland Private Capital Corporation, said Keith Lampi, president and chief operating officer of Inland Private Capital. The Arlington Heights store was the first of four Mariano’s properties in the Chicago area acquired by Inland Private Capital in the past several years. The firm has already sold the other three, in Vernon Hills, Palatine and Elmhurst. Including the recent sale, the properties generated a weighted average annualized return of nearly 14 percent.
Through its asset manager subsidiary, Inland Private Capital Corporation has arranged the sale of four freestanding medical office buildings in the Chicago-area and south of Boston for $45.7 million. The company worked on behalf of Medical Office Portfolio DST, one of its 1031 investment programs.
Inland Private Capital Corporation’s VP of Capital Markets, Nati Kiferbaum, demonstrates an unwavering commitment to serving the company’s investor base and finding ways to maximize value on their behalf. Leveraging market research with creativity has allowed Kiferbaum to find ways to finalize transactions that others may not have thought were achievable. Within Inland, his energy and passion in this pursuit serve as an inspiration to those around him.Those are just some of the reasons we chose Kiferbaum to be one of the Chicago 2018 Next Generation Award winners.