Inland Private Capital sells 29 CVS and Walgreens properties

OAK BROOK - Inland Private Capital Corp. announced the sales of 29 CVS and Walgreens pharmacy properties in the past five months, bringing a total of $172.3 million to investors.

The corporation, through its subsidiary that serves as asset manager, facilitated the sales on behalf of nine IPC investment programs, it said.

The sales resulted in a total return to investors of 173% of their original investment, and an average annual return of 8.61%, IPC said.

"All sales were profitable based upon the fully loaded purchase price paid by investors," said Dan Zatloukal, executive vice president and head of asset management of Inland Real Estate Investment Corp. "Necessity-based retail is also in very high demand, which provided us with another opportunity to deliver successful liquidity events to investors."

The sales included 6 CVS and 23 Walgreens pharmacies located across the country.