Inland Private Capital Corporation Sells Little Rock Shopping Center, Providing a 204% Total Return to Investors
September 13, 2022Oak Brook, Ill.– Inland Private Capital Corporation (“IPC”) today announced the sale of the Chenal Commons Shopping Center (“Chenal Commons”) in Little Rock, Arkansas, for $14,550,000, a premium to the allocated offering price paid by investors. IPC, through its subsidiary that serves as asset manager, facilitated the sale of the property on behalf of Chenal Commons DST, one of IPC’s 1031 investment programs.
The sale resulted in a total return to investors of 204.41 percent of their original investment, and an average annual return of approximately six percent.
Chenal Commons, located at 12801 Chenal Parkway in Little Rock, is a multi-tenant retail shopping center 100 percent leased to eight tenants. The property is comprised of two buildings, for a total of 70,147 square feet. Tenants include Petco Supplies & Fish, Shoe Carnival, Old Navy, ULTA Cosmetics, David’s Bridal, Great Clips, Kirkland’s and Elegant Nails and Spa.
“Throughout the pandemic we observed aggressive capitalization rate compression on essential business tenants such as pet supply stores as well as select value consumer segments,” said Rahul Sehgal, chief investment officer and executive vice president of IPC. “In addition, we successfully extended several leases utilizing proactive asset management strategies, and were able to subsequently capitalize on value created on behalf of our investors.”
In addition to providing liquidity to investors, the sale also provided investors with the option to utilize their sales proceeds to complete a subsequent tax-deferred exchange. IPC monetized over $1.5 billion in real estate in 2021 on behalf of its 1031 exchange platform.
IPC specializes in offering multiple-owner, tax-focused, private placement investments as well as Qualified Opportunity Zone investments throughout the U.S. Since inception, IPC has monetized in excess of $3.7 billion in full-cycle transactions on behalf of its investors. Currently, IPC manages a diverse portfolio of more than $11.78 billion across several asset classes spanning 43 states.
About Inland Private Capital Corporation
Inland Private Capital Corporation (IPC), headquartered in Oak Brook, IL, is a privately held, industry-leading alternative investment management firm, with an investment focus spanning across a broad range of asset types. As of June 30, 2022, the firm had sponsored 297 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. Many of IPC’s offerings have been designed for investors seeking replacement property to complete an IRS Section 1031 exchange. IPC is recognized as the largest provider of securitized 1031 exchange opportunities in the country, with assets under management (AUM) of more than $11.78 billion, which includes a diverse national footprint of properties, spanning 43 states across various sectors. Past performance is not indicative of future performance.