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InvenTrust Properties Appoints Jay Whitehurst to its Board of Directors

InvenTrust Properties Corp., a publicly registered non-traded real estate investment trust formerly known as Inland American Real Estate Trust., appointed Julian (Jay) Whitehurst to the board of directors, which now has six directors. Whitehurst is the president and chief operating officer of National Retail Properties Inc. (NYSE: NNN), a publicly-traded single-tenant retail REIT.

“Jay brings to the InvenTrust Board more than 30 years of experience in the commercial real estate industry, with significant expertise in real estate transactions and operations,” said Thomas P. McGuinness, president and chief executive officer of InvenTrust. “We believe that Jay’s experience as an executive at a successful retail-focused REIT will play a vital role on our board as we move forward in executing on our pure-play retail platform strategy.”

“We are pleased to add a proven industry leader of Jay’s caliber and background to our board of directors,” said J. Michael Borden, chairman of InvenTrust Properties. “We welcome Jay to the board and look forward to benefiting from his contributions and insights.”

Whitehurst has served as president of National Retail since 2006, and as chief operating officer since 2004. In these roles, he is responsible for all aspects of operations for the REIT, including acquisitions, dispositions, development, asset management, underwriting, human resources and legal. He also served as executive vice president, general counsel and secretary of National Retail Properties from 2003 to 2006.

Prior to joining National Retail Properties, Whitehurst was a shareholder at the law firm of Lowndes, Drosdick, Doster, Kantor & Reed, P.A., where he practiced business and real estate law for more than 20 years. He specialized in the representation of institutional investors in general business and real estate acquisition, disposition, finance and development.

InvenTrust became a self-managed REIT in 2014 and owns 97 multi-tenant retail properties. The company also maintains a 55 percent ownership stake in a joint venture with PGGM Private Real Estate Fund containing 15 open-air centers. InvenTrust’s total retail portfolio comprises 18.5 million square feet of retail space in 24 states. As of December 31, 2015, the company also owned 11,039 student housing beds and 5.7 million square feet of non-core space.