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Inland Buys $100M Interest in Wakefield

OAK BROOK, IL-Inland American Real Estate Trust Inc. has acquired the convertible preferred equity interest in Wakefield Capital LLC.

By Gina Kenny | Updated on July 10, 2008

OAK BROOK, IL-Inland American Real Estate Trust Inc. is buying a $100 million convertible preferred equity interest in Wakefield Capital LLC. NorthStar Realty Finance Corp., based in New York City, is expected to receive approximately $90 million from the sale of the interest in its majority-owned healthcare real estate venture.

Representatives from NorthStar did not respond to a request to be interviewed. A spokesman for Inland said that he could not comment because Inland American is still in its capital raising period and is bound by strict SEC regulations. An SEC filing is not yet on file for the transaction from Inland American, which is sponsored by an affiliate of the Inland Real Estate Group of Cos. Inc.

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