Inland Real Estate Acquisitions LLC, the purchasing arm for various Inland-sponsored programs including Delaware statutory trust investments and non-traded real estate investment trusts, has negotiated and closed $1.3 billion of commercial real estate in 2020 in the multifamily, self-storage and the industrial sectors.
“While COVID-19 encompassed much of 2020, Inland Acquisitions maximized its size, scale and relationships to execute our strategic acquisitions goals,” commented Joe Cosenza, vice chairman of The Inland Real Estate Group and president of Inland Real Estate Acquisitions LLC. “In the last four months alone, Inland Acquisitions purchased more than three quarters of a billion dollars in well located, high quality assets in sectors that have been strong performers since the onset of the pandemic.”
During 2020, the Inland Acquisitions team collectively purchased 35 properties across 12 states, including one of the only ocean-front rental buildings in New York, renamed 10 West Apartments. The 11-story multifamily property located in Long Beach was 99 percent occupied at closing.
“We have a strong pipeline of 2021 acquisitions,” said Joe Cosenza. “In 2020, the [qualified opportunity zone] and 1031 platforms consumed much of our inventory and we look forward to building on that momentum as the economy stabilizes with the election behind us and the vaccination being disseminated.”
Inland also purchased the recently built 151,600-square-foot industrial building occupied by Amazon.com and located in a newly constructed industrial park in Thornton, Colorado, as well as four Life Storage properties located in the greater Nashville, Tennessee and Louisville, Kentucky metros.
Since inception, Inland Acquisitions has facilitated more than $48 billion of purchases including single-tenant properties, medical office buildings, retail properties, apartments, student housing and self-storage.