TO
SHOW FIRST:



AMENITIES
SPECIAL MARKETS
PROPERTY TYPES
TO
SHOW FIRST:



AMENITIES
SPECIAL MARKETS
PROPERTY TYPES

Learn

Share
Share
Save
Save

Inland Real Estate, PGGM in retail joint venture

06-07-2011

OAK BROOK, Ill. (AP) — Inland Real Estate Corp. said Monday that it has formed a joint venture with the Dutch financial firm PGGM to acquire $270 million worth of grocery-anchored and community retail centers in the midwestern U.S.

PGGM, a pension fund administrator and asset manager, will contribute $20 million in equity and Inland Real Estate will provide three retail centers worth $45 million to the joint venture. The properties are located in Arden, Minn.; Elk Grove, Ill.; and Buffalo Grove, Ill.

Inland Real Estate will add more properties after the initial investment, and PGGM will contribute an additional $130 million in equity. PGGM will own a 45 percent stake of the joint venture and Inland Real Estate will hold the remaining 55 percent.

The joint venture will acquire more assets during the next two years.

Shares of Inland Real Estate rose 13 cents to $7.77 in morning trading.

About Coldwell Banker®

Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of approximately 83,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
Coldwell Banker Real Estate LLC will never sell or provide information to a third party without your prior consent.
Click here to see our full Privacy Policy and Terms and Conditions of Use
New Search
Top Tools

Choose a Currency close window close