Inland Real Estate Acquisitions LLC, the purchasing arm for various Inland-sponsored programs including Delaware statutory trusts, negotiated and closed the purchase of Wheaton 121, a 306-unit multifamily property in Wheaton, Ill., a suburb located approximately 25 miles west of Chicago.
Mark Cosenza, senior vice president of Inland Acquisitions, with assistance from Brett Smith, vice president and associate counsel of The Inland Real Estate Group LLC, Law Department, completed the $101.2 million transaction on behalf of an Inland affiliate.
Wheaton 121 at 121 North Cross Street, is comprised of five studio, 217 one-bedroom, 80 two-bedroom, and four three-bedroom units. The property has multiple amenities including a resort-style pool, a 24-hour fitness room, and a bocce ball court. Residents also have access to a heated garage with six EV charging stations.
“Wheaton 121 is another example of the opportunities Inland seeks in multifamily,” commented Cosenza. “This community is ideally located, offering residents a number of amenities and convenient accessibility to surrounding suburbs and the city of Chicago.”
The property is steps from downtown Wheaton, offering efficient access to the Metra and downtown Wheaton’s dining and entertainment district. Target, Mariano’s and Northwestern Rehab Hospital are also located nearby.
The National Council for Home Safety and Security ranked Wheaton number 6 in the Top 100 Safest Cities in America. Wheaton has also been recognized as a top place to live by Money Magazine and Chicago Magazine.
At closing, Wheaton 121 was 94% occupied.
Inland Acquisitions assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts, and acquires real estate assets for the various entities that are a part of The Inland Real Estate Group of Companies Inc. – one of the nation’s largest commercial real estate and finance groups.
Since inception, Inland Acquisitions has facilitated more than $55 billion of purchases across all asset types, with a more recent focus on student housing, multifamily, self-storage, senior living,and manufactured housing communities.
Most recently and shortly before the passing of The Inland Real Estate Group of Companies’ co-founder, director and vice chairman, Inland Acquisitions negotiated and closed the purchase of the Clarendale – a Class A senior living portfolio with three communities in Arizona, Missouri, and Tennessee. The communities, which total 635 independent living, assisted living and memory care units, were recently developed in a joint venture with Ryan Companies and Life Care Sciences.
Last September, real estate investment manager Inland Private Capital Corporation completed a $72 million capital raise for the private investment offering of Glendale BTR DST, an Inland Private Capital-sponsored DST that owns the Onyx at Westgate, purchased in February 2024 by Inland Real Estate Acquisitions for an undisclosed price.
For more Inland Private Capital news, please visit their directory page.
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