OAK BROOK, IL—In recent years, many real estate companies have decided to drop their traditional names in favor of ones that are shorter and easier to transform into memorable logos. A similar move was just completed by the Inland Real Estate Corp., which changed its name to IRC Retail Centers Inc. But unlike when Jones Lang LaSalle became JLL, the change by IRC was more than just a name, and addresses challenges that went far beyond branding. The firm was just acquired by funds managed by DRA Advisors LLC, ceased trading on the New York Stock Exchange, and has become a privately-held REIT.

“The true value of our platform and our properties was not appreciated by Wall Street,” Scott Carr, executive vice president, chief investment officer of IRC, tells GlobeSt.com, and company officials have felt that its stock performance did not match what they felt was its true worth. The company operates with a long-term strategy that calls for buying open-air retail centers that need some work to show their true value. The resulting income streams could unnerve New York analysts.

IRC frequently takes retail space offline in order to make improvements that will boost performance over the long-term. “They don't like these short-term disruptions to your income streams,” Dawn Benchelt, assistant vice president, director of investor relations, tells GlobeSt.com. Private ownership, on the other hand, will allow the company to implement its long-term vision without interference.