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Inland Diversified Considers Options for $2.2 Billion Portfolio

With Primary Capital Fully Invested, Inland Turns to Exit Strategy
February 27, 2013
Inland Diversified Real Estate Trust Inc. will meet with investment bankers over the next two months to mull liquidity options for its $2.2 billion in commercial real estate holdings. Those options include selling all of its assets, an initial public offering, or bringing in joint venture partners.

Oak Brook, IL-based Inland Diversified said it completed its primary capital raise in August 2012 and fully invested all of its collected capital by year end.

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“As you know by now, we successfully completed our capital raise and fully invested the proceeds into new acquisitions during the second half of 2012,” the company notified shareholders in a letter this month. “While we will continue to invest in additional assets, the volume of closings will no doubt slowdown in 2013.”

“The level of activity will depend, in part, on whether or not we find a strategic joint venture partner to invest with us,” the letter continued. “We will also be able to devote more time to other pursuits, including limited development activities and consideration of a liquidity event. We have no set timetable for accomplishing a liquidity event, but consider it to be an important part of our comprehensive business plan.”

As of Jan. 24, 2013, Inland Diversified owned and operated 141 properties containing 12.4 million square feet of retail, industrial and office properties, and 444 multifamily units.

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