Michelle Napoli is editor of Net Lease forum, from which this article is excerpted.

Austin, TX—Inland Public Properties Development Inc., a new subsidiary of Inland American Real Estate Trust Inc., will focus on the government property niche through acquisition and development of assets leased to county, state and federal entities.

President and CEO Chuck Jones is running the locally based subsidiary. It is one of two specialty property subsidiaries--the other is focused on student housing and other multifamily assets--recently formed by Inland Capital Markets Group Inc. of Atlanta on behalf of Inland American, a REIT still in its offering stage and sponsored by Oak Brook, IL-headquartered Inland Group of Cos.

Jones is the former CEO of CentraCore Properties Trust, an owner of correctional facilities that was purchased by the GEO Group Inc. of Boca Raton, FL earlier this year. Jones tells NET LEASE forum that Inland American had been interested in CentraCore but was not the winning bidder. Ultimately, Inland American hired a number of CentraCore executives, including Jones. "We're really doing the same business, but on a wider platform," Jones explains.