Inland Residential Properties Trust, Inc. (Inland Residential Trust) commenced its public offering on February 17, 2015 and closed its offering to the public on January 3, 2018. Inland Residential Trust was formed in December 2013 to acquire a portfolio primarily of stabilized Class A and B multifamily properties in the top 100 U.S. metropolitan statistical areas with the intention to invest in suburban, commuter locations. Inland Residential Trust acquired three apartment communities totaling 623 units and more than 677,000 square feet.
In December 2018, Inland Residential Trust stockholders approved a plan of liquidation, including the dissolution of the company and the sale of all or substantially all of its assets. As a part of the plan of liquidation, The Commons at Town Center was sold on December 20, 2018, The Retreat at Market Square was sold on March 29, 2019 and The Verandas at Mitylene was sold on August 20, 2019. Inland Residential Trust was managed by Inland through final liquidity.
Inland Residential Trust Formed
Capital Raise Begins
First Distribution Paid
Capital Raise Ends
Liquidity Event: Sale of Commons at Town Center
Liquidity Event: Sale of Retreat at Market Square
Liquidity Event: Sale of Verandas at Mitylene
|Initial Per Share Purchase Price||$25.00*|
|Primary Offering Gross Proceeds||$45.1 million|
|Approximate Total Distributions||$5.1 million|
|Total Distributions Plus Liquidation Value||$50.8 million|
* Inland Residential Trust’s Initial Per Share Purchase Price of $25.00 represents Class A shares. Inland Residential Trust also offered Class T shares at $23.95 per share and Class T-3 shares at $24.14 per share. In connection with the sale of all of its assets, in January 2019, all shares of Class T common stock and Class T-3 common stock were converted to shares of Class A common stock.
Total Distributions Plus Liquidation Value = Approximate Total Distributions, plus the total amount of liquidating distributions received by stockholders of Inland Residential Trust pursuant to the plan of liquidation.
Inland Residential Trust terminated its share repurchase program in September 2018 in connection with the pursuit of a liquidity event.
With respect to any REIT that has not had a liquidity event, there is no guarantee that a liquidity event will occur. Past performance is not a guarantee of future results.