PRESS ROOMNEWS RELEASE
Inland Private Capital Corporation Monetizes Eight-Property Walgreens Portfolio on Behalf of InvestorsJanuary 05, 2022
Oak Brook, Ill. – Inland Private Capital Corporation (“IPC”) today announced the sales of eight Walgreens properties, totaling 113,130 square feet across four states. The properties sold in separate transactions, for a total of $37 million, a premium to the allocated offering price paid by investors. IPC, through its subsidiary that serves as asset manager, facilitated the sales on behalf of Pharmacy Sale Leaseback II DST, one of IPC’s 1031 investment programs.
The sales resulted in a total return to investors of 156.61 percent of their original investment, and an average annual return of 7.52 percent.
“During the hold period, the portfolio performed as expected providing consistent monthly income to investors,” said Keith Lampi, president and chief operating officer of IPC. “Necessity-based retail remains in high demand, which helped to maximize performance in terms of valuation, and with the added benefit of a flexible debt structure, the asset management team was able to capitalize on the opportunity to deliver another profitable, full-cycle liquidity event to investors.”
The Pharmacy Sale Leaseback II DST sales included eight properties located in Arkansas, Michigan, Missouri and Tennessee, all of which were purchased in March 2014 and are leased to Walgreen Co.
Similar to many of IPC’s previous dispositions, these transactions provided liquidity to investors, while also providing investors with the option to utilize their sales proceeds to complete a subsequent tax-deferred exchange. IPC monetized over $1.5 billion in real estate in 2021 on behalf of its 1031 exchange platform.
IPC specializes in offering multiple-owner, tax-focused, private placement investments as well as Qualified Opportunity Zone investments throughout the U.S. Since inception, IPC has monetized in excess of $3.5 billion in full-cycle transactions on behalf of its investors. Currently, IPC manages a diverse portfolio of more than $9 billion across several asset classes spanning 43 states.
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About Inland Private Capital Corporation
Inland Private Capital Corporation (IPC), headquartered in Oak Brook, IL, is a privately held, industry-leading alternative investment management firm, with an investment focus spanning across a broad range of asset types. As of September 30, 2021, the firm had sponsored 279 private placement real estate offerings, with investments and developments in the multifamily, self-storage, hospitality, healthcare, student housing, retail, corporate office, senior living, and industrial sectors. Many of IPC’s offerings have been designed for investors seeking replacement property to complete an IRS Section 1031 exchange. IPC is recognized as the largest provider of securitized 1031 exchange opportunities in the country, with assets under management (AUM) of more than $9 billion, which includes a diverse national footprint of properties, spanning 43 states across various sectors. Past performance is not indicative of future performance.