OAK BROOK, IL - Inland Real Estate Acquisitions announced the acquisition of four properties purchased in July on behalf of an Inland affiliate. The acquisitions total more than 476,000 square feet across four states for a total purchase price of more than $75 million. The properties acquired include two apartment communities with a combined total of 278 units, one medical office building and a retail center.
“These four properties are all newer construction and are well-occupied in desirable locations, and we will continue to look for similar properties across all asset classes for the remainder of the year.”
The four properties include: Ascent Uptown Apartments, an approximately 18,500-square-foot mixed-use building with two retail spaces located in Denver; Creekview Apartments, an approximately 288,000-square-foot residential community located in Florida; The Fountains, a 131,578-square-foot retail center located in Hixson, Tennessee, with Kohl’s and Academy Sports as tenants; and Emerus Community Hospital, an approximately 38,000-square-foot building, located in Tomball, Texas, which contains a hospital with emergency and acute care capabilities as well as space dedicated for medical offices.
“Our team was pleased to close on nearly half a million square feet of excellent income-producing properties,” said Joe Cosenza, president of Inland Real Estate Acquisitions, Inc. and vice chairman of The Inland Real Estate Group, Inc. “These four properties are all newer construction and are well-occupied in desirable locations, and we will continue to look for similar properties across all asset classes for the remainder of the year.”
To date, Inland Real Estate Acquisitions, Inc. has purchased 2,290 retail centers, 60,177 apartments and 1,510 single-tenant properties (such as medical office buildings).