CHICAGO—In the first quarter of 2015, Inland Real Estate Income Trust, Inc. acquired 11 multi-tenant, necessity-based retail centers with a total purchase price of $217.5 million, according to company officials. The acquisitions were primarily located in secondary and tertiary markets in nine states and encompass about 1.27 million square feet of commercial retail space.
“Inland has a long history and, as a result, a great deal of comfort acquiring and managing properties in secondary and strong tertiary markets, where we believe we can generate relatively higher risk adjusted returns,” Mitchell Sabshon, chief executive officer of Inland Real Estate Income Trust, Inc., tells GlobeSt.com.
The Oak Brook, IL-based REIT has been a very active buyer throughout the past year. The company's assets at the end of the first quarter totaled $784 million, up from $134 million just one year earlier, according to documents it filed with the US Securities and Exchange Commission.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
