Inland Real Estate Acquisitions, Inc. Announces the Purchase of Palm Coast Landing Shopping Center in Palm Coast, Florida for $40.4 Million

Property acquired on behalf of Inland Diversified Real Estate Trust, Inc.

OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Real Estate Acquisitions, Inc. announced today the acquisition of Palm Coast Landing, a 171,297-square-foot shopping center in Palm Coast, Fla., for approximately $40.4 million. The property, which was fully leased at closing, was acquired on behalf of Inland Diversified Real Estate Trust, Inc. (“Inland Diversified”). Matt Tice, vice president of Inland Real Estate Acquisitions, facilitated the transaction.

“This acquisition adds another property to our Florida portfolio while also increasing our geographic presence in the northern part of the state”

“This property is located in Flagler County, one of the five fastest-growing counties in the U.S., and features a strong lineup of national tenants,” Tice said. “The center is one of the most active in the area, drawing from a population of more than 56,000 people within a five-mile radius.”

Tenants at the center include Ross Dress for Less, T.J. Maxx, PetSmart, Michael’s and Books-A-Million. The property is shadow-anchored by a Super Target, which was not acquired. At closing, the property was 100 percent leased to 28 tenants.

“This acquisition adds another property to our Florida portfolio while also increasing our geographic presence in the northern part of the state,” said Barry Lazarus, president and chief operating officer of Inland Diversified. “This acquisition demonstrates our continued confidence in the Florida’s growth.”

About Inland Real Estate Acquisitions, Inc.

Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc. (“Inland”). Headquartered in Oak Brook, Ill., Inland has been ranked one of the largest shopping center owners in North America (Retail Traffic, March/April 2011) and one of the top managers of retail property in the United States (Retail Traffic, March/April 2011). As of September 30, 2011, Inland-sponsored companies owned and managed in total over 128.9 million square feet of diversified commercial real estate in 48 states, as well as managed assets in excess of $25.3 billion. Inland is comprised of a group of independent legal entities some of which may be affiliates, share some common ownership or have been sponsored and managed by subsidiaries of Inland Real Estate Investment Corporation. For additional information, please refer to Inland’s website at www.inlandgroup.com.

About Inland Diversified Real Estate Trust, Inc.

Inland Diversified Real Estate Trust, Inc. (“Inland Diversified”) is a public, non-listed real estate investment trust (REIT) that focuses on acquiring and developing a diversified portfolio of commercial real estate. For additional information, please refer to Inland Diversified’s website at www.inlanddiversified.com.