PRESS ROOMMEDIA COVERAGE ARCHIVE
As Senior Vice President and Assistant General Counsel of The Inland Real Estate Group, LLC, Law Department, Janet Heintz represents Inland entities and sponsored funds in the primary business areas of Property Assessed Clean Energy (PACE) financings, commercial real estate bridge financings and investment advisors.
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, is fully subscribed. “We are delighted to see the strong support for this offering even amid the global pandemic,” said Rod Curtis, president of Inland Venture Partners.
Daniel Wagner, senior vice president of government relations of The Inland Real Estate Group, LLC, provides insight on the importance of the 1031 exchange program. The Internal Revenue Code Section 1031 allows taxpayers to defer capital gains payment and recapture taxes on the sale of property by reinvesting the proceeds in another property equal to or of greater value. 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 Real Estate Acquisitions Closes Purchase of 109-Unit Boutique Beachfront Multifamily Community in New YorkMultifamily Biz October 27, 2020
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.