The Inland Private Capital Corporation Story

Top Work Place 2021-2023Inland Private Capital Corporation (IPC) is recognized as the industry leader in securitized 1031 exchange transactions.1 A subsidiary of Inland Real Estate Investment Corporation (Inland Investments) and a part of The Inland Real Estate Group of Companies, Inc. (Inland).

Inland has been delivering value to investors for more than 50 years. Established in 1968 by four Chicago Public School teachers, Inland is involved in every aspect of commercial real estate. Inland’s four founding principals – Dan Goodwin, Bob Baum, Joe Cosenza and Bob Parks – began investing in real estate part-time to earn extra cash while working fulltime as school teachers. In the early 1970s, the group took a leap of faith and started full-time careers in real estate. Their first investors were other teachers, family members and friends. This personal connection and responsibility to investors created a culture of putting investors first, which endures today across Inland’s business entities.

LAUNCH TIMELINE

Evolution of IPC

Inland’s early investments consisted of limited partnerships including private, single asset and tax-sheltered partnerships. Partnering with broker dealers to raise capital, Inland offered its first public investment in 1985, which led to further public offerings consisting of mortgage, monthly income, growth and land funds.

 
 

The Tax Reform Act of 1986 permanently changed tax-sheltered limited partnerships. While many sponsors walked away from these investments and lost investor capital, Inland chose to make a commitment to its investors by strategically using 1031 exchanges and moving investors into new investments where they could continue to build equity. In fact, the 1031 exchange investment vehicles used were Walmart stores and, at one time, Inland was Walmart’s largest landlord.

 
 

Surpassing 58,000 total investors, Inland realized the need for a separate organization to meet the growing demand for 1031 exchange transactions and created IPC, formerly Inland Real Estate Exchange Corporation, in 2001. IPC-sponsored private placements through 2023 have been made up of 930 properties comprised of more than 78 million square feet of gross leasable area across the primary commercial real estate sectors.

 
 

Since IPC’s inception in 2001, Inland entities, Inland employees and spouses, Inland directors, Inland officers and affiliated Inland employees have invested more than $96 million in IPC-sponsored offerings, reflecting Inland’s alignment with its investors.

Track Record of Success

As of 12/31/2023, IPC has completed 136 program dispositions since inception producing weighted average total returns at more than 119 percent for each asset class.

Program Dispositions

  Retail Office Multifamily Industrial Student
Housing		 Healthcare Self-Storage
Cumulative Sales Price $1,404,844,323 $503,700,165 $1,771,432,000   $148,370,041   $196,321,250   $98,975,001   $276,850,000
Weighted Avg. Total Return2 134.73% 119.64% 159.01% 138.47% 131.15% 149.14% 168.48%
Weighted Avg. IRR3 5.99% 3.89% 10.07% 5.75% 6.92% 7.66% 12.93%
Number of Programs 66 22 26 9 3 6 4

Disciplined Property Acquisition Process

IPC offers a proven record of completing smart real estate acquisitions. Our financing expertise, industry knowledge and hands-on approach to the due diligence and closing processes enables success on all fronts. Our investment process is based on six essential criteria.

 
Origination

IPC leverages Inland’s decades of expertise and local market knowledge to purchase properties with the goal of driving returns for investors.

 
Underwriting

Our skilled underwriting team thoroughly reviews each potential acquisition to determine the property’s true value and opportunity.

 
Senior Management Review

IPC’s senior management team has extensive combined industry experience, providing valuable insight and support regarding the strategic direction of the asset post acquisition.

 
Investment Committee

Every asset is presented to Inland's veteran Investment Committee, which reviews and analyzes all aspects of the acquisition and determines if the assets are appropriate for purchase.

 
Due Diligence/Closing

Enacts a hands-on approach to closing to ensure each acquisition closing is successful for all those involved.

 
Asset Management

IPC employs asset management which includes analyzing market trends, economic and political data and company-specific news. This active approach allows IPC to consider selling properties when the opportunity to produce the greatest possible return exists.

Competitive Advantage through Vertical Integration

As part of The Inland Real Estate Group of Companies, Inc., IPC leverages the breadth and depth of Inland's wide range of real estate experts through a collaborative approach. When IPC brings products to investors, this competitive advantage shines through all stages of real estate, including acquisition, securitization, management, and disposition. Vertical integration aligns with IPC’s focus of minimizing costs and maximizing income, while also providing a number of other advantages.

active

Frequently Asked Questions

Who is Inland Private Capital Corporation?

In 2001, IPC was formed to provide replacement properties for investors wishing to complete a tax-deferred exchange under Section 1031, as well as investors seeking a quality, multiple-owner real estate investment. The programs sponsored by IPC offer securities to accredited investors on a private placement basis. IPC was the recipient of the 2006 and 2015 ACE (A Champion of Excellence) Awards given by the Alternative and Direct Investment Securities Association (“ADISA”), formerly known as the Real Estate Investment Securities Association, a trade association of the real estate securities industry. IPC is a founding member of ADISA.

What is IPC’s Investment Philosophy?

Integrity, expertise and innovation are the three hallmarks of Inland. IPC constantly reinforces the importance of both research and market-driven product development, with an unwavering focus on delivering performance to our investors. Our disciplined acquisition process focuses on origination, underwriting and property due diligence, and active asset management is the key to adding value and increasing potential earnings for investors.

What Distinguishes IPC's Approach from its Competitors?

IPC is part of The Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and financial institutions with more than 50 years of experience. IPC’s management acumen, financial strength and operational knowledge allows us to focus on our properties and the fundamentals of our business. Through active property management, IPC strives to improve operational efficiency, grow operating income, and generate returns to investors.

What Asset Classes Does IPC Offer?

IPC is active in most commercial real estate sectors including Multifamily, Self-Storage, Senior Living, Industrial, Medical/Healthcare, Retail, Office, and Student Housing. DST offerings are typically asset-class specific and may comprise a single property or multiple properties, which provide diversification within the asset class. IPC's QOZ investments focus on the Hospitality, Multifamily and Self-Storage sectors.

For More Information

Inland Private Capital investment programs are sold by broker dealers and registered investment advisors authorized to do so.

Contact your financial professional to learn more. Or, for help finding a financial professional:

CONTACT INLAND

Inland Private Capital Investment Programs are sold by broker dealers and registered investment advisors authorized to do so.

Connect with your Inland team to learn more:
Important Disclosures

1 Source: Mountain Dell Consulting 1031 DST/TIC Market Equity Update 2023 year-end report. Statement based on total equity raised.

2 Weighted Average Total Return (TR) For each full-cycle program, the TR is calculated by dividing the sum of amounts distributed to investors plus the net sale proceeds returned to the investors, by such investors’ capital invested in the program inclusive of all fees and expenses. To determine the weighted average Total Return in each asset class, the Total Return for each program within that asset class is multiplied by the capital invested in that program, divided by the total capital invested in all full-cycle programs within that asset class since inception (2001).

3 Weighted Average Internal Rate of Return (IRR) The internal rate of return, or “IRR,” represents the average annual return over the lifetime of an investment, accounting for the time value of money. For each full-cycle program, the IRR was calculated using the XIRR function of the Microsoft Excel program (or its functional equivalent) to calculate a discount rate for the hold period at which the sum of (a) the present value of all capital contributions invested by the program for a property and (b) the present value of all funds available for distribution from a property, equals zero. To determine the weighted average in each asset class, the IRR for each program within that asset class is multiplied by the capital invested in that program, divided by the total capital invested in all full-cycle programs within that asset class since inception (2001).

Full-Cycle Programs are those programs that no longer own any assets. However, in certain limited situations in which the subject property(ies) were in foreclosure, IPC has negotiated with the lenders and advanced funds to the investors to allow the investors to exchange their beneficial interest in the original program for a proportionate beneficial interest in a new program, in order to continue their Section 1031 exchanges and avoid potential capital gains and/or forgiveness of debt tax liabilities. Because such exchanges result in an investment continuation, the original programs are not considered full-cycle programs for these purposes.

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This website is neither an offer to sell nor a solicitation of an offer to buy any security, which can be made only by an offering memorandum and sold only by broker dealers and registered investment advisors authorized to do so. An offering is made only by means of the offering memorandum in order to understand fully all of the implications and risks of the offering of securities to which it relates. A copy of the offering memorandum must be made available to you in connection with any offering.

Investments in offerings sponsored by Inland Private Capital Corporation (IPC) involve certain risks including but not limited to tax risks, general real estate risks, risks relating to the financing on the applicable property, if any, risks relating to the ownership and management of the property, risks relating to private offerings and the lack of liquidity, and risks relating to the DST, QOZ and Qualified Opportunity Fund structures. This website is not intended as tax advice

The Inland name and logo are registered trademarks being used under license. Throughout this web site “Inland” refers to some or all of the entities that are a part of The Inland Real Estate Group of Companies, Inc., which is comprised of a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored and/or managed by such entities or subsidiaries thereof, including Inland Real Estate Investment Corporation. The Inland name and logo are registered trademarks being used under license.  Inland Securities Corporation, member FINRA/SIPC, is dealer manager and placement agent for programs sponsored by Inland Investments and Inland Private Capital, respectively. For more information on Inland Securities Corporation, visit FINRA BrokerCheck.

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