PRESS ROOMNEWS RELEASE
InPoint Commercial Real Estate Income, Inc. Announces Origination of $31 Million Mortgage Loan
Nicole SpreckInland Communications
Oak Brook, Ill. – InPoint Commercial Real Estate Income, Inc. (“InPoint”), a commercial mortgage real estate investment trust sponsored by Inland Real Estate Investment Corporation and sub-advised by an affiliate of Sound Point Capital Management, LP, announced today that, through its operating partnership, it originated a $31 million loan (“the Loan”) for a 629,011-square-foot property ("the Property") consisting primarily of two industrial buildings and 23 acres of excess land located in Denver, Pennsylvania.
The Loan represents 64 percent of the Property’s appraised value. The real estate owners are in a joint venture and have owned and managed the property for 17 years.
“The Property is 100 percent occupied primarily by a Fortune 500 tenant and is well positioned approximately one mile from the Pennsylvania Turnpike and strategically located in the center of the Boston-Washington Corridor,” said Don MacKinnon, president of InPoint Commercial Real Estate Income, Inc.
About InPoint Commercial Real Estate Income, Inc.
Externally managed by a wholly-owned indirect subsidiary of Inland Real Estate Investment Corporation, InPoint Commercial Real Estate Income, Inc. is a commercial mortgage real estate investment trust that seeks to originate, acquire and manage a diversified credit portfolio secured by commercial real estate properties primarily within the United States.
When used in this press release, in future filings with the Securities and Exchange Commission ("SEC") or in other written or oral communications, statements which are not historical in nature, including those containing words such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "would," "could," "goal," "objective," "will," "may" or similar expressions, are intended to identify "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions.
Forward-looking statements are based on InPoint's beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations are subject to risks and uncertainties and can change as a result of many possible events or factors, not all of which are known to InPoint. These risks and uncertainties and other factors, including the risk factors described in InPoint's periodic reports filed with the SEC, could cause InPoint's actual results to differ materially from those projected in any forward-looking statements it makes. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time and it is not possible to predict those events or how they may affect InPoint. Except as required by law, InPoint is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.