Oak Brook, Ill.– Inland Private Capital Corporation (“IPC”) today announced the sales of 29 pharmacy properties in 5 months. The properties, totaling 398,040 square feet, sold through various transactions, for a total of $172.3 million, a premium to the allocated offering price paid by investors. IPC, through its subsidiary that serves as asset manager, facilitated the sales on behalf of nine IPC 1031 investment programs.
The sales resulted in a total return to investors of 172.98 percent of their original investment, and an average annual return of 8.61 percent.
“All sales were profitable based upon the fully loaded purchase price paid by investors,” commented Dan Zatloukal, executive vice president - head of asset management of Inland Real Estate Investment Corporation. “Necessity-based retail is also in very high demand, which provided us with another opportunity to deliver successful liquidity events to investors.”
The sales included 6 CVS and 23 Walgreens pharmacies located across the country.
In addition to providing liquidity to investors, the sales also provided investors with the option to utilize their sales proceeds to complete a subsequent tax-deferred exchange. IPC monetized over $1.5 billion in real estate in 2021 on behalf of its 1031 exchange platform.
IPC specializes in offering multiple-owner, tax-focused, private placement investments as well as Qualified Opportunity Zone investments throughout the U.S. Since inception, IPC has monetized in excess of $3.7 billion in full-cycle transactions on behalf of its investors. Currently, IPC manages a diverse portfolio of more than $10.6 billion across several asset classes spanning 43 states.
About Inland Private Capital Corporation
Inland Private Capital Corporation (IPC), headquartered in Oak Brook, IL, is a privately held, industry-leading alternative investment management firm, with an investment focus spanning across a broad range of asset types. As of December 31, 2021, the firm had sponsored 287 private placement real estate offerings, with investments and developments in the multifamily, self-storage, hospitality, healthcare, student housing, retail, corporate office, senior living, and industrial sectors. Many of IPC’s offerings have been designed for investors seeking replacement property to complete an IRS Section 1031 exchange.
IPC is recognized as the largest provider of securitized 1031 exchange opportunities in the country, with assets under management (AUM) of more than $10.6 billion, which includes a diverse national footprint of properties, spanning 43 states across various sectors. Past performance is not indicative of future performance.