Inland Real Estate Corporation is Now IRC Retail Centers

New name, look and tagline reflect continued focus on necessity and value retail

OAK BROOK, Ill.--()--IRC Retail Centers Inc. unveiled a new brand identity following the announcement of its name change from Inland Real Estate Corporation. The name change coincides with the acquisition of Inland Real Estate Corporation by funds managed by DRA Advisors LLC. The newly launched IRC Retail Centers brand includes a new logo, tagline and updated web site.

While its name has changed, IRC Retail Centers continues to focus on owning, operating, acquiring and developing open-air retail properties. The Company currently has an ownership interest in more than 130 properties totaling approximately 15.4 million square feet of leasable space, located in well-established markets primarily in the Central and Southeastern United States.

“Our new name more accurately reflects our retail focus, while also bridging our past corporate identity to a dynamic, new brand that clearly conveys the strength of the Company,” said Mark Zalatoris, president and chief executive officer of IRC Retail Centers. “The IRC initials have been closely associated with the Company during its more than 15 years of operations as a self-managed, experienced owner/operator of high-quality retail real estate.”

IRC Retail Centers also introduced a new tagline: "Focused on Retail. Centered on Value." The new tagline reinforces the Company’s emphasis on retail and its ability to offer tenants prime shopping center locations that feature an optimal merchandise mix of value and necessity-oriented retailers.

“We begin the next chapter of our Company under new ownership and with a new name, but the continuity of our dedicated staff, properties and platform remain the foundation of our success,” said Zalatoris. “Our reputation has been built on providing high quality retail location opportunities, expert advice and operational excellence. The efforts of our people and the strength of our property portfolio will continue to define us.”

“The purchase of IRC Retail Centers Inc. provides DRA the opportunity to extend our retail footprint in the Midwest and Southeast with well located, stable, grocery anchored and power shopping centers,” said Matthew Shore, partner at DRA in charge of overseeing the transaction. “We are excited to welcome the IRC team with a proven track record and together work toward the common goal centered on value creation.”

Additional information on IRC Retail Centers is available at www.ircretailcenters.com. Follow us on Twitter at www.twitter.com/irc_retail and connect with us via LinkedIn at https://www.linkedin.com/company/irc-retail-centers, and Facebook at https://www.facebook.com/ircretailcenters.

About IRC Retail Centers

IRC Retail Centers is a real estate company focused on owning and operating open-air neighborhood, community and power shopping centers located in well-established markets primarily in the Central and Southeastern U.S. The Company currently has an ownership interest in more than 130 properties totaling approximately 15.4 million square feet of leasable space. Its necessity and value-centered retail portfolio features properties that deliver the right combination of location, market position, and tenant mix to drive consumer traffic at its centers. Additional information on IRC Retail Centers is available at www.ircretailcenters.com.

About DRA Advisors LLC

DRA Advisors LLC (DRA) is a registered SEC investment advisor with $9.4 billion of assets under management, headquartered in New York with offices in San Francisco and Miami. DRA has been in existence for 30 years with investors that include public and corporate pension funds, endowments, foundations and financial institutions. As of the date hereof, DRA has invested in properties valued in excess of $26 billion. Additional information on DRA Advisors LLC is available at www.draadvisors.com.

Forward Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not reflect historical facts and instead reflect our management’s intentions, beliefs, expectations, plans or predictions of the future. Forward-looking statements can often be identified by words such as “seek,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “may,” “will,” “should” and “could.” Examples of forward-looking statements include, but are not limited to, statements that describe or contain information related to matters such as management’s intent, belief or expectation with respect to our financial performance, investment strategy or our portfolio, our ability to address debt maturities, our cash flows, our growth prospects, the value of our assets, our joint venture commitments and the amount and timing of anticipated future cash distributions. Forward-looking statements reflect the intent, belief or expectations of our management based on their knowledge and understanding of our business and industry and their assumptions, beliefs and expectations with respect to the market for commercial real estate, the U.S. economy and other future conditions. Forward-looking statements are not guarantees of future performance, and investors should not place undue reliance on them. Actual results may differ materially from those expressed or forecasted in forward-looking statements due to a variety of risks, uncertainties and other factors, including but not limited to the effects of local, national and global economic, credit and capital market conditions on the economy in general, and other risks and uncertainties; including but not limited to the risks listed and described under “Item 1A. Risk Factors” in the Inland Real Estate Corporation Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the Securities and Exchange Commission (the “SEC”) on February 26, 2016, as they may be revised or supplemented by us in subsequent filings, if any, with the SEC, press releases or other public disclosure. Except as otherwise required by applicable law, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement in this release to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Contacts

IRC Retail Centers Contact:
Dawn Benchelt
benchelt@ircretailcenters.com
877-206-5656

Contacts

IRC Retail Centers Contact:
Dawn Benchelt
benchelt@ircretailcenters.com
877-206-5656