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News Breaks
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December 8, 2011
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| 08:34 EDT |  | IRC |
| theflyonthewall.com: | Inland Real Estate announces JV acquisition of shopping centers for $43M | | Inland Real Estate Corporation announced that its joint venture with PGGM has acquired in separate all-cash transactions two retail properties for an aggregate purchase price of approximately $43M, excluding closing costs and adjustments. On December 7, 2011, the venture acquired Elston Plaza, a grocery-anchored center located in Chicago, Ill., for $18.9M. Brownstones Shopping Center, also grocery-anchored and located in Brookfield, Wis., a suburb of Milwaukee, was purchased for $24.1M on November 29, 2011. The venture anticipates placing financing on the assets at leverage levels consistent with its existing business plan. :theflyonthewall.com |
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