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Inland Real Estate Acquisitions, LLC announced that it negotiated and closed the purchase of an 11-story, 109-unit multifamily property located in Long Beach, New York. Joe Cosenza, vice chairman of The Inland Real Estate Group, LLC and president of Inland Real Estate Acquisitions, LLC, completed the deal, with assistance from Michael A. Wilson and Gina R. LaMantia of Equis Law Group, LLC, on behalf of an Inland affiliate.
Inland Private Capital Corporation, a significant owner of commercial properties including shopping centers, sold a 70,000-sq.-ft. property occupied by Pick ‘n Save in Mt. Pleasant, Wisconsin, for $17.8 million. “QSR lots and out-parcels were selling at pretty aggressive cap rates prior to the pandemic, but we’ve seen a shift towards necessity-based retail in 2020. In this case, the DST was able to sell the grocery store and retain ownership of the remaining real estate,” said Rahul Sehgal, director and chief investment officer of Inland Private Capital Corporation.
Inland Real Estate Acquisitions LLC has acquired 10 West Apartments, an oceanfront community in Long Beach, N.Y. The 11-story oceanfront property features 109 units and 177 rentable parking spaces. “I wanted the property so badly, because not only do the numbers work for us, but also, how many rental properties can you find on the shore of Long Island? It’s virtually none,” Joe Cosenza, vice chairman of Inland Real Estate Group LLC, told Multi-Housing News.
The DI Wire conducted a webinar, Can 1031 Exchanges Escape the Chopping Block?, where four experts including Keith Lampi, president, director and chief operating officer of Inland Private Capital Corporation, discussed the future of 1031 exchanges ahead of the 2020 election. Note: The attached link is being sent to you solely for the purposes of providing information regarding 1031 like-kind exchanges. It is not meant as a political expression of Inland. Any such interpretation must be attributed to the article’s author.
Inland Private Capital Corporation negotiated the sale of a 70,433-square-foot grocery retail property in Mt. Pleasant, Wisconsin. The property sold for $17.84 million, an approximately 11 percent premium over investors’ acquisition price. IPC, through its subsidiary that serves as asset manager, facilitated the sale of the property on behalf of Mt. Pleasant Retail Venture DST, one of IPC’s 1031 investment programs.
Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation, and Michael Ezzell, president and chief executive officer of Inland Securities Corporation, discussed the pandemic’s impact on all property types and provided an overview of current investment strategies during the Blue Vault hosted webinar.
