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Inland Residential Properties Trust, Inc., a publicly registered non-traded real estate investment trust, entered into an agreement to sell “The Commons at Town Center” an 85-unit multifamily community located in Vernon Hills, Illinois for approximately $24.6 million.
Inland Real Estate Acquisitions, LLC announced today that it negotiated and closed the purchase of a portfolio of eight medical office buildings located in Mesa, Chandler, Gilbert, Glendale and Scottsdale, Arizona. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, LLC, completed the deal, with assistance from David Neboyskey, vice president and associate counsel of The Inland Real Estate Group, LLC, Law Department, on behalf of an Inland affiliate.
Inland Real Estate Commercial Brokerage, Inc. announced the sale and closing of Deer Creek Condominiums, a 58-unit residential property located in Gurnee, Illinois, a northern suburb of Chicago. Deer Creek Venture Corporation and Condo Opportunities Corporation, wholly owned subsidiaries of the Inland National Development Company, LLC, sold the property to a private investment group. Paul Montes and Eric Spiess, senior vice presidents of Inland Commercial Brokerage, facilitated the transaction on behalf of the sellers.
REjournals will host the 17th Annual Commercial Real Estate Forecast Conference on Tuesday, January 8, 2019 at the Hyatt Regency Chicago. Confirmed speakers for breakout sessions include Art Rendak of Inland Mortgage Capital, LLC and Don Stewart of Inland Investment Real Estate Services.
Associated Bank announced the completion of a $14,080,000 loan to Inland Retail Property Fund, LP, for the acquisition of Northville Park Place,18771-39869 Traditions Drive in Northville Township (in Wayne County), Michigan. The six-building, 78,833-square-foot retail center, located at the southwest corner of Seven Mile Road and Haggerty Road, is anchored by Trader Joe’s. Other tenants include Granite City, Rusty Bucket and Sherwin Williams.
ADISA, the nation's largest trade association for the alternative and direct investment space, announced the new directors for its 2019 board, selected by its members. They join the returning 2018 board members, who were elected last fall to two-year terms, and include Keith Lampi, 2018 ADISA president and president and chief operating office of Inland Private Capital Corporation.