Inland Real Estate Acquisitions LLC in Oak Brook said it negotiated and closed the purchase of eight multifamily properties located throughout the South and Western U.S. on behalf of Inland-related parties during the first half of 2018.
The acquisitions total 2,095 units for a total cumulative purchase price of approximately $353 million.
Joe Cosenza, vice chairman of The Inland Real Estate Group LLC and president of Inland Acquisitions, along with Mark Cosenza and Matthew Tice, both senior vice presidents of Inland Acquisitions, are responsible for completing the purchases, with assistance from David Neboyskey and Brett Smith, vice presidents and associate counsels of The Inland Real Estate Group LLC, Law Department, on behalf of the various Inland affiliates.
"We're pleased with the acquisitions of these eight high quality apartment properties, which featured premium amenities, boasted high occupancy rates and were ideally located in prime markets," commented Mark Cosenza. "We couldn't have closed these transactions so quickly and efficiently without the support of our legal representatives, David Neboyskey and Brett Smith."
To date, Inland Acquisitions has completed the acquisition of 79,204 apartment units throughout the United States, among 509 multifamily properties, for a total purchase price of more than $5.5 billion.
"Throughout the remainder of 2018, we will continue to seek out multifamily properties located in desirable markets with strong demographics that provide renters with access to good schools, public transportation, retail areas and major employers," Tice said.
"Our business started with purchasing multifamily properties and throughout the last 50 years, we have shown our integrity, expertise and innovation while acquiring these properties," stated Joe Cosenza. "We love buying -- it's what we do."