Inland American Real Estate Trust, Inc. has announced the acquisition of four new properties. The purchase was completed for a total of $154 million. The four properties include two shopping centers and two multifamily properties. The Woodlands Shopping center spans across 159,703 square feet in San Antonio, Texas. The tenants of the center include Best Buy, Ross Dress for less, PetCo and OfficeMax. Grafton Commons Shopping Center is 237,565 square feet of retail space in Grafton, Wisconsin. The center is anchored by ALDI’s and its tenants include Kohl’s, Best Buy and PetSmart. The two multifamily properties are Malibu Lakes Partments in Naples, Florida, and Archstone Medical Center Apartments in Houston, Texas.
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Inland American Real Estate Trust, Inc. focuses on acquiring and developing a diversified portfolio of commercial real estate including retail, multi-family, industrial, lodging, office and student housing properties, located in the United States and Canada. The company also invests in joint ventures, development projects, real estate loans and marketable securities. As of September 30, 2009, Inland American owned, directly or indirectly through joint ventures in which it has a controlling interest, 946 properties, representing approximately 43 million square feet of retail, industrial and office properties, 8,544 multi-family units and 15,125 lodging rooms. Inland American is one of five REITs that are, or have been, sponsored by affiliates of The Inland Real Estate Group of Companies, Inc.
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