“We began purchasing Mariano's locations on behalf of investors beginning in 2011, shortly after the Arlington Heights store was built because we recognized the growth potential and brand strength of Mariano's from the onset,” says Keith Lampi, president and chief operating officer of IPC. “As Mariano's achieved explosive growth and expansion in the years following the opening of its flagship location, we strategically acquired additional properties with strong location fundamentals.”

Inland reports that the Arlington Heights sale resulted in a total return to the investors of 169% (calculated based on the aggregate amount of original capital invested in this property). In addition, the sale resulted in a 9.48% average annualized return to investors.

The additional Mariano's Fresh Market dispositions included the sale of the Vernon Hills location in May 2016, the Elmhurst location in May 2016 and the Palatine location in November 2017 resulted in a weighted average total return of 158%, and a 13.8% weighted average annualized return to investors across the three IPC-sponsored investment programs.

Earlier this month, Inland Private Capital sold a total of four medical office properties in Illinois and Massachusetts for a gross sale price of $45.7 million. IPC, through a subsidiary serves as asset manager for the properties, facilitated the sale of the properties on behalf of the Medical Office Portfolio DST, one of its 1031 investment programs. The company did not identify the buyer or buyers of the four properties.