OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Real Estate Acquisitions, Inc. (“Inland”) announced today the acquisition of the Berkshire Reserve Townhomes, a 146-unit residential development in Naples, Fla., for approximately $15.9 million. Constructed in 2001, the rental property features three-bedroom, 2 ½-bathroom townhomes that were 93 percent occupied at closing. Mark Cosenza, vice president, facilitated the transaction.
“The Berkshire Reserve Townhomes development benefits from a central location in Naples, recently voted one of 10 U.S. cities that are worth the cost-of-living by U.S. News & World Report,” Cosenza said. “The townhomes are around 25 minutes from the city center and the beaches, providing a perfect mix of quality-of-life and access to the attractions and amenities that have made Naples a prime draw for tourism.”
The Berkshire Reserve Townhomes are located adjacent to Collier Country Fitness and Aquatic Center, featuring an Olympic-sized swimming pool, a state-of-the-art fitness center, baseball fields, bocce ball courts and other amenities. Residents are offered a discounted membership to the center.
About Inland Real Estate Acquisitions, Inc.
Inland Real Estate Acquisitions, Inc. facilitates acquisitions 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 and managers in North America (Retail Traffic, May 2012) and the fastest-growing acquirer of retail property in the U.S. (Chain Store Age, May 2013). As of March 31, 2013, Inland-sponsored companies owned and managed in total over 88.2 million square feet of diversified commercial real estate in 48 states, as well as managed assets in excess of $20.8 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 Inland Real Estate Investment Corporation or its subsidiaries. For additional information, please refer to Inland’s website at www.inlandgroup.com.