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Inland Real Estate Income Trust IPO Raises $856M
Inland Real Estate Investment Corp chairman Mitchell Sabshon has reason to smile today. Inland Real Estate Income Trust raised $856M in investor capital during its "best efforts" IPO. Inland raised over $122M in capital during the final 60 days of the offering, which closed Oct. 15.
Investors must be bullish on Inland's existing portfolio and the opportunities for future investments. As of Nov. 30, Inland's portfolio was valued at $1.2B with 53 retail properties in 22 states, totaling over 5.8M SF.
Mitchell says Inland will use the offering proceeds to buy more multi-tenant retail assets and expand Inland Income Trust's portfolio size to over $1.5B by the end of 2016.
