InvenTrust Properties Corp. Announces Acquisition of Windward Commons in Alpharetta, GA

InvenTrust Expands Presence in Metro Atlanta with Kroger-Anchored Retail Center

OAK BROOK, Ill.--()--InvenTrust Properties Corp. (“InvenTrust or “the Company”) today announced that it has acquired Windward Commons, a 99% occupied, 117,234 square foot Kroger-anchored retail center in Alpharetta, GA, for $27.65 million.

“We are excited to announce the acquisition of Windward Commons, a premier retail center in one of the nation’s fastest-growing MSAs, anchored by the nation’s largest grocer,” said Michael E. Podboy, Executive Vice President – Chief Financial Officer, Chief Investment Officer of InvenTrust. “Windward Commons represents an attractive opportunity for InvenTrust to increase its presence in an affluent submarket location with favorable job, population and income demographics.”

Christopher Covey, Senior Vice President of Transactions, added, “Windward Commons is located at one of the area’s busiest intersections on a main thoroughfare connecting downtown Atlanta with the northern suburbs. A stable tenant base and long average tenant duration are added benefits of this property. The acquisition of Windward Commons is an exciting opportunity that we anticipate will drive long term value for our investors.”

Windward Commons is located approximately 29 miles north of Atlanta’s central business district. The retail center is anchored by Kroger with other tenants including Hallmark, Roasters and Ippolito’s Italian Restaurant.

ABOUT INVENTRUST PROPERTIES CORP.

InvenTrust Properties Corp. is a pure-play retail company with a focus on acquiring open-air centers with a disciplined approach, in key growth markets with favorable demographics. This acquisition strategy, along with our innovative and collaborative property management approach, ensures the success of both our tenants and business partners and drives net operating income growth for the Company. InvenTrust became a self-managed real estate investment trust in 2014 and, as of June 30, 2016, is an owner and manager of 91 multi-tenant retail properties, comprising 15.7 million square feet of retail space.

Forward-Looking Statements Disclaimer

Forward-looking statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical, including statements regarding management’s intentions, beliefs, expectations, representation, plans or predictions of the future and are typically identified by words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, our ability to integrate and successfully operate acquired properties and the risks associated with such properties. For further discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see our filings with the Securities and Exchange Commission, including the Risk Factors included in our most recent Annual Report on Form 10-K. We intend that such forward-looking statements be subject to the safe harbors created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, except as may be required by applicable law. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Contacts

InvenTrust Properties Corp.
Dan Lombardo, 630-570-0605
dan.lombardo@InvenTrustProperties.com

Contacts

InvenTrust Properties Corp.
Dan Lombardo, 630-570-0605
dan.lombardo@InvenTrustProperties.com