CHICAGO—In the second quarter, Inland Real Estate Income Trust, Inc. acquired four multi-tenant, necessity-based retail centers and the remaining parcel of a previously-purchased center. Much like the first quarter, when the Oak Brook, IL-based trust bought 11 centers, the properties were primarily located in secondary and tertiary markets.
“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., told GlobeSt.com.
The new acquisitions cost a total of $174.9 million and, including the remaining parcel of the Frisco Marketplace in TX, encompass about 846,000 square feet of commercial retail space in five states. As of June 30, 2015, the company's portfolio consisted of 46 retail properties located in 19 states, totaling about 4.5 million square feet and with an aggregate purchase price of more than $829.5 million.
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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.
