Inland Private Capital Fully Subscribes $37 Million Self-Storage DST

Real estate investment manager Inland Private Capital Corporation has completed a $37 million-plus capital raise for the private investment offering of IPC Self-Storage Portfolio XXI DST. The offering, filed in June 2024, has been fully subscribed by investors and is now closed.

The DST owns two self-storage properties totaling 1,618 units located in New Jersey and Wisconsin. The properties operate under the Devon Self Storage brand name and were purchased for an undisclosed price.

Founded in 1988 by Ken Nitzberg and now a member of The Inland Real Estate Group of Companies Inc., Devon Self Storage currently manages over 183 properties and has developed more than 350 self-storage facilities in 36 states and three European countries.

Of this DST’s self-storage assets, both properties offer amenities, including climate-controlled units, drive-thru aisles, exterior drive-up units, and advanced security features.

“The durability, secular and demographic tailwinds continue to support our high conviction and long-term outlook for the self-storage sector,” commented Nati Kiferbaum, senior vice president, head of investment product strategy at Inland Private Capital Corporation.

Inland Private Capital’s current self-storage portfolio spans more than $1.7 billion in assets under management. As of June 30, 2024, the portfolio was comprised of 182 properties across 30 states, totaling 97,120 units.

Headquartered in Oak Brook, Ill., Inland Private Capital Corporation specializes in offering multiple-owner, tax-focused, private placement investments including qualified opportunity zone investments throughout the United States. Since inception, it has monetized more than $4.7 billion in full-cycle transactions on behalf of its investors and currently manages a diverse portfolio of more than $12.3 billion across several asset classes spanning 43 states.

Inland Private Capital Corporation is a member company of alternative investment management firm, The Inland Real Estate Group of Companies Inc. As of June 30, 2024, the firm had sponsored 317 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.

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