Inland sells 12 more pharmacy properties

OAK BROOK - Inland Private Capital Corp. said it has sold two pharmacy portfolios for a combined total of $80 million.

The portfolios were comprised of a combined 12 pharmacy retail properties located across 10 states, Inland said.

Earlier this month, Inland said it had sold 29 CVS and Walgreens pharmacy properties in the past five months, bringing in a total of $172.3 million to its investors.

The recent Pharmacy Portfolio III sale resulted in a total return to investors of 278% of their original investment, and an average annual return of 16.4%. The Pharmacy Portfolio IV sale resulted in a total return to investors of 267% of their original investment, and an average annual return of 15%, Inland said.

"Both portfolios performed incredibly well for our investors while simultaneously fulfilling the various tax-related objectives the investment structure was designed to accomplish," said Keith Lampi, president and chief operating officer of IPC.