OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Institutional Capital, LLC announced today that an institutional fund that it advises has acquired Lower Makefield Shopping Center, a grocery and drug store-anchored property in Yardley, Pennsylvania. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the purchase on behalf of the fund.
“We are pleased to add this high quality, necessity-based retail center to the fund’s portfolio. Lower Makefield Shopping Center is anchored by two nationally respected tenants, a Giant (Ahold) grocery store and a Rite-Aid pharmacy. This retail center fits well with our belief that grocery and drug store-anchored shopping centers continue to benefit from consistent consumer demand and limited online competition,” said George Pandaleon, president of Inland Institutional Capital.
“Lower Makefield Shopping Center, like other properties in this portfolio, will benefit from its association with The Inland Real Estate Group of Companies, Inc., which provides enhanced leasing services, rent growth programs and acquisitions expertise, as well as principal-to-principal relationships with national retailers,” said Howard Fields, senior vice president of Inland Institutional Capital.
About Inland Institutional Capital, LLC
Inland Institutional Capital, LLC (“ICAP”) provides real estate portfolio investment and asset management services to institutional investors, institutional separate accounts, and pooled investment vehicles. ICAP also facilitates institutional joint ventures and other large scale investment opportunities. Since 2005, ICAP has facilitated the completion of transactions with a value in excess of $10.5 billion. Inland Institutional Capital is an SEC registered investment adviser. ICAP is part of The Inland Real Estate Group of Companies, Inc. which 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.