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Thursday, 29 November 2018

Inland Residential, Owner of 3 Apartment Properties, Plans Liquidation

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Commercial Real Estate Direct Staff Report

Inland Residential Properties Trust Inc., a non-traded REIT that owns three apartment properties with 623 units, is planning to liquidate.

The Oak Brook, Ill., company, sponsored by Inland Real Estate Investment Corp., was launched nearly five years ago, with plans to raise $1.2 billion that would be invested in stabilized apartment properties in the country's 100 largest markets. It offered shares for prices between $23.95 and $25 each, but evidently never gained traction among potential investors. Through earlier this year, when it ended its stock offering, it had raised only $49.6 million of equity.

It used that to buy its three properties at a total cost of $105.5 million. It placed $63.2 million of mortgage debt against them.

The three properties are:

- Retreat at Market Square, with 206 units in Frederick, Md., for which it paid $45.7 million;

- Commons at Town Center, with 85...





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Additional Info

  • Syndicate to Realpoint: No
  • Sector: Multifamily
  • Subject: Property Offerings (OFF), REITS -general (REITS)
  • Company: Inland Real Estate Corp.
  • Private: Yes
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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