Oak Brook, Ill. – The 15-property portfolio of retail centers is located across eight states, totaling approximately two million square feet.
Oak Brook, Ill. – Inland Real Estate Income Trust Inc. has signed a definitive agreement to purchase a 15-property portfolio of retail centers located across eight states, totaling approximately two million square feet, from Kite Realty Group Trust for an estimated purchase price of $318 million. The acquisition is expected to close in two tranches on or before Dec. 15, 2014, and March 16, 2015, respectively. The properties are a combination of grocery and power centers that are 96.14 percent leased collectively to 174 tenants. The properties include Eastside Junction in Athens, Alabama; Regal Court in Shreveport, Louisiana; Walgreens Plaza in Jacksonville, North Carolina; and Fox Point in Neenah, Wisconsin.
— Scott Reid