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Sales Double in Record Year for 1031 Real Estate Platforms
FundFire February 2, 2022The small but fast-growing Delaware Statutory Trust real estate market – which helps investors jump into tax deferred 1031 exchange deals – had its best year ever last year, logging a record $7.2 billion in sales. The year was stronger than market players expected, said Keith Lampi, president and chief operating officer at Inland Private Capital Corporation, the 1031 market-focused affiliate of Inland Real Estate Investment Corporation.
Read More >Hy-Vee Sells 6 MN Locations in Leaseback Deals Totaling More Than $88 Million
Minneapolis/St. Paul Business Journal February 1, 2022Oak Brook, Illinois-based The Inland Real Estate Group of Companies, Inc. bought the locations in January from the West Des Moines-based grocery chain, according to public filings with the Minnesota Department of Revenue. Mark Cosenza, senior vice president of Inland Real Estate Acquisitions, LLC, confirmed in an email that Inland acquired a total of six Hy-Vees in the state.
Securitized 1031 Exchanges Raise a Record $7.4 Billion in 2021
The DI Wire January 27, 2022Securitized 1031 exchange programs raised a record-breaking $7.4 billion in equity in 2021, more than double the $3.2 billion equity raise in 2020, according to a report by Mountain Dell Consulting. At year end, the top sponsor by market share was Inland Private Capital Corporation (18 percent), which raised a whopping $1.32 billion during the year.
Read More >Inland Green Capital Provides $250,000 in Financing for Energy Improvements at Will County Office Towers
REJournals January 19, 2022Inland Green Capital LLC, an environmental finance and investment company, closed and funded a commercial Property Assessed Clean Energy (“C-PACE”) transaction in Mokena, Illinois. The funding, which closed in December 2021, will provide 100 percent financing for rooftop solar PV installations and roof replacements. The C-PACE project is expected to provide the two buildings with about $265,000 in savings over the 25-year financing term, while creating an average of 66 percent of their own overall energy and saving over 1,000 metric tons of CO2e from entering the atmosphere.
Read More >Inland Private Sells Wholesale Club Portfolio, Reports 154% Total Return to Investors
The DI Wire January 19, 2022Inland Private Capital Corporation sold two wholesale club properties, located in Attleboro, Massachusetts and Baltimore, Maryland, on behalf of East Coast Wholesale Portfolio DST, one of its 1031 exchange Delaware statutory trust investment programs. “Throughout the pandemic, we observed aggressive capitalization rate compression on essential business tenants such as warehouse clubs, especially throughout the triple net lease segment of the market. Given the potential for strong valuations, we decided to market the portfolio for sale, resulting in a favorable outcome to investors with average annualized returns ranging from 8.9 to 10.9 percent,” said Keith Lampi, president and chief operating officer of IPC.
Read More >Inland Divests Two BJ’s Warehouse Stores
Chain Store Age January 18, 2022Inland Private Capital Corporation announced that it has sold two BJ’s Warehouse stores. The 115,660-square-foot Attleboro, Massachusetts, property and the 89,348-square-foot Baltimore store were acquired by Inland in 2016. The private placement investment-focused company stated that the return to stakeholders in the properties was 154%.
Read More >December 2021 Nontraded REIT Sales Up 21.4% from November
BlueVault Partners January 17, 2022Blue Vault received December sales totals for ten nontraded REIT program offerings as of January 15, 2022. Sales reported by those ten NTRs totaled $537.4 million, up 21.4% from $442.5 million in November, but up 179% year-over-year from the $116.7 million in sales in December 2020. Among reporting nontraded REITs, InPoint Commercial Real Estate Income, Inc. reported a 150% increase from November to December 2021.
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