CHICAGO—Inland Private Capital Corp. has lately been generating very solid returns for investors by selling off top retail properties. Most recently, the Oak Brook, IL-based company completed the sale of Freedom Commons in suburban Naperville. IPCC facilitated the sale on behalf of one of its 1031 investment programs.
Located at 1703-1847 Freedom Dr. about 33 miles west of Chicago, the retail center is a collection of buildings that total 81,760 square feet. Constructed between 2007 and 2013, it has a variety of restaurant and service tenants including AthletiCo Physical Therapy, Maggiano's Little Italy, Morton's the Steakhouse, Old Town Pour House and others.
Although the sale price was not released, company officials did say the coupled with cash flow generated during the holding period, the sale resulted in a total return to the investors of 149%. As reported in GlobeSt.com, the property was bought in 2013 for $24.4 million. In addition, the sale resulted in a 15.59% average annual return.
“The positive leasing activity during the first quarter of the year, combined with the ten-year extension of the Maggiano's Little Italy lease, was instrumental in positioning this asset for a successful disposition,” says Rahul Sehgal, chief investment officer of IPCC. “This was another positive full-cycle transaction for IPCC that resulted in substantial returns for our investors.”
In addition to Freedom Commons, this summer IPCC facilitated the sale of several Mariano's Fresh Markets, the Chicago region's fasted-growing grocer. In early September, the Vernon Hills location garnered $36.4 million. Coupled with cash flow generated during the holding period, that sale resulted in a total return to the investors of 148.48%. In addition, in June IPCC got $25 million for the Mariano's in Elmhurst.
CHICAGO—Inland Private Capital Corp. has lately been generating very solid returns for investors by selling off top retail properties. Most recently, the Oak Brook, IL-based company completed the sale of Freedom Commons in suburban Naperville. IPCC facilitated the sale on behalf of one of its 1031 investment programs.
Located at 1703-1847 Freedom Dr. about 33 miles west of Chicago, the retail center is a collection of buildings that total 81,760 square feet. Constructed between 2007 and 2013, it has a variety of restaurant and service tenants including AthletiCo Physical Therapy, Maggiano's Little Italy, Morton's the Steakhouse, Old Town Pour House and others.
Although the sale price was not released, company officials did say the coupled with cash flow generated during the holding period, the sale resulted in a total return to the investors of 149%. As reported in GlobeSt.com, the property was bought in 2013 for $24.4 million. In addition, the sale resulted in a 15.59% average annual return.
“The positive leasing activity during the first quarter of the year, combined with the ten-year extension of the Maggiano's Little Italy lease, was instrumental in positioning this asset for a successful disposition,” says Rahul Sehgal, chief investment officer of IPCC. “This was another positive full-cycle transaction for IPCC that resulted in substantial returns for our investors.”
In addition to Freedom Commons, this summer IPCC facilitated the sale of several Mariano's Fresh Markets, the Chicago region's fasted-growing grocer. In early September, the Vernon Hills location garnered $36.4 million. Coupled with cash flow generated during the holding period, that sale resulted in a total return to the investors of 148.48%. In addition, in June IPCC got $25 million for the Mariano's in Elmhurst.
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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.
