Inland Private Reports 155% Total Return for Latest Full-Cycle DST

Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, has sold Penn Circle Apartments located in the Indianapolis suburb of Carmel, Indiana.

Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, has sold Penn Circle Apartments, a multifamily property located in the Indianapolis suburb of Carmel, Indiana.

Inland Private facilitated the sale on behalf of Carmel Multifamily DST, one of its Delaware statutory trust offerings.

Constructed in 2013, Penn Circle Apartments consists of five buildings with a total of 193 units. Community amenities include a dog park, rain gardens, bike rooms, walking paths, a BBQ and picnic area, a business center, clubhouse, 24-hour fitness center and pool with cabanas. Penn Circle Apartments was 96.4 percent leased, as of the date of the sale.

“We purchased the property in October 2014, and through proactive asset management, the property exceeded cash flow projections and provided a substantial profit on sale, resulting in a 9 percent average annualized return to investors,” said Keith Lampi, president and chief operating officer. “The sale provided liquidity to investors, many of which have elected to utilize their sales proceeds to complete a subsequent tax deferred exchange.”

While the original purchase and sale prices were not disclosed, Inland Private indicated that the sale resulted in a total return to the investors of 155.5 percent, calculated based on the total amount of original capital invested in the properties.

Inland Private Capital Corporation is an alternative investment management firm that offers multiple-owner, tax-focused, private placement investments as well as qualified opportunity zone investments throughout the U.S.

As of December 31, 2020, the company had sponsored 266 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. Currently, Inland Private manages a portfolio of more than $9 billion across several asset classes spanning 43 states.

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