Home News Inland Private Sells Eight-Property Walgreens DST Portfolio

Inland Private Sells Eight-Property Walgreens DST Portfolio

Inland Private Capital Corporation, a sponsor of securitized 1031 exchange offering, has sold eight Walgreens properties in separate transactions for a total of $37 million on behalf of Pharmacy Sale Leaseback II DST, one of its 1031 investment programs.

Inland Private Capital Corporation, a sponsor of securitized 1031 exchange offering, has sold eight Walgreens properties in separate transactions for a total of $37 million on behalf of Pharmacy Sale Leaseback II DST, one of its Delaware statutory trust investment programs.

The Pharmacy Sale Leaseback II DST sales included eight properties totaling 113,130 square feet and located in Arkansas, Michigan, Missouri and Tennessee, all of which were purchased in March 2014 and are leased to Walgreen Co.

According to Inland Private, the sales resulted in a total return to investors of 156.61 percent of their original investment, and an average annual return of 7.52 percent.

“During the hold period, the portfolio performed as expected providing consistent monthly income to investors,” said Keith Lampi, president and chief operating officer. “Necessity-based retail remains in high demand, which helped to maximize performance in terms of valuation, and with the added benefit of a flexible debt structure, the asset management team was able to capitalize on the opportunity to deliver another profitable, full-cycle liquidity event to investors.”

Inland Private has monetized more than $1.7 billion in real estate in 2021 on behalf of its 1031 exchange platform. Since inception, the firm has monetized more than $3.5 billion in full-cycle transactions.

Inland Private specializes in offering multiple-owner, tax-focused, private placement investments as well as qualified opportunity zone investments throughout the U.S. Currently, the company manages a portfolio of more than $9 billion across several asset classes spanning 43 states.

As of September 30, 2021, the firm had sponsored 279 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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