PITTSBURGH, PA — Oak Brook, IL-based Inland Real Estate Income Trust has acquired Settlers Ridge, a 472,000 square-foot retail center in Pittsburgh, PA.
The REIT also acquired a smaller center in Connecticut. Matthew Tice, vice president of Inland Real Estate Acquisitions, facilitated the purchases of the properties on behalf of Inland Income Trust.
“The acquisition was a phenomenal opportunity to add two strong, necessity-based assets to Inland Income Trust's growing retail portfolio,” says Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. “With their solid national tenant line-ups and strong demographics, these grocery-anchored centers match perfectly with Inland Income Trust's strategy to acquire high quality multi-tenant retail assets.”
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