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 May 1, 2015, IPCC has sponsored 170 private placement programs, which have offered more than $2.185 billion in equity to over 6,525 investors.
The 170 private placement programs include 423 properties, with over 22.40 million square feet of gross leasable area, for an aggregate offering price of more than $4.51 billion. Of these properties, 349 are retail centers, 46 are office buildings, 9 are industrial and distribution centers and 19 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 May 1, 2015, 43 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.