In March 2001, Inland Private Capital Corporation (“IPCC”) was formed to provide replacement properties for people wishing to complete an IRS Section 1031 Exchange, as well as investors seeking a quality, multiple-owner real estate investment. The programs sponsored by IPCC offer securities to “accredited” investors on a private placement basis. As of the December 31, 2014, IPCC has sponsored 166 private placement programs, which have offered more than $2.115 billion in equity to over 5,975 investors.
The 166 private placement programs include 418 properties, with over 21.88 million square feet of gross leasable area, for an aggregate offering price of more than $4.384 billion. Of these properties, 348 are retail centers, 44 are office buildings, 9 are industrial and distribution centers and 17 are multifamily communities. In the aggregate, 64% of the properties were existing construction and 36% were new construction (the year of completion is within one year of the year of the offering). As of December 31, 2014, 41 of the assets (including two properties and one security owned by a fund with multiple assets and ten properties owned in a portfolio) have been sold.