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New Inland REIT Declares Initial Net Asset Value

New Inland REIT Declares Initial Net Asset Value. Alternative investments, Inland, Inland Private, Inland Private Capital Corporation, INVEST, investment, investors, IPC, nav, net asset value
New Inland REIT Declares Initial Net Asset Value. Alternative investments, Inland, Inland Private, Inland Private Capital Corporation, INVEST, investment, investors, IPC, nav, net asset value

IPC Alternative Real Estate Income Trust Inc., a new non-traded, perpetual-life REIT launched by Inland Real Estate Investment Corporation, has declared its first monthly net asset value per share for its classes of common stock, as of Sept. 30, 2023.

Class T, S, D and I shares had an NAV per share of $25.12, as of Sept. 30, 2023. The company’s net asset value is $146.1 million and its number of outstanding shares is 5,809,000.

As The DI Wire reported earlier this month, the REIT seeks to raise up to $1.25 billion in equity via its initial offering and intends to invest in a diversified portfolio of stabilized, income-generating commercial real estate across alternative property types, with a non-exclusive focus on self-storage facilities, student housing properties and healthcare-related properties. In addition, they may also invest in value-add or other development projects in these asset classes, potentially through a variety of ownership structures including but not limited to direct ownership, joint ventures, co-investment opportunities, preferred equity positions and others.

IPC Alternative REIT intends to qualify as a real estate investment trust for U.S. federal income tax purposes beginning in 2024.

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