Inland Private Capital Corporation sold 11333 McCormick Road, a two-tower, single-tenant office complex for $99.3 million. Situated on a 16.3-acre site in Baltimore, Maryland, the property was most recently renovated in 2016.
Inland National Development Company, LLC is developing a 100-unit, transit-oriented, multifamily community in Chicago’s Logan Square neighborhood. Located approximately 6.5 miles from downtown at 2845 W. Belden Avenue, the project is on target to be completed by the first quarter of 2020.
Inland Property Management LLC has engaged brokerage services by KLNB, a privately held commercial real estate services firm, for New Town Village Center in Owing Mills, Maryland, a suburb of Baltimore.
Inland Securities Corporation, the exclusive dealer manager and placement agent for real estate investment programs sponsored by Inland Real Estate Investment Corporation and Inland Private Capital Corporation, has hired Midquel “Mick” McClendon to serve as senior vice president – external wholesaler.
While labor shortage is causing delays in multifamily project deliveries, a community in Austin, Texas, is announced to be completed earlier than initially scheduled. Inland National Development Company, LLC and Cambridge Development Group will open the luxury Citadel at Tech Ridge community next month.
There are other ways to invest in real estate other than becoming a landlord, according to Dan Wagner, senior vice president of government relations at The Inland Real Estate Group of Companies, Inc. He characterized the opportunity to buy into a real estate investment trust (REIT), which is essentially a company that owns, operates or finances income-producing real estate, “the mutual fund of real estate.” Furthermore, he referred to 1031 exchanges, a method of deferring capital gains taxes by reinvesting them in a similar investment, as the “401k of real estate.”