CLEVELAND-Oak Brook-based Inland Real Estate Corp. has acquired two retail properties totaling 616,800 square feet in Ohio for $109.4 million. The retail REIT purchased the 474,000-square-foot Westgate Shopping Center in suburban Cleveland.
In the second deal, An Inland joint venture with PGGM purchased the 142,800-square-foot Stone Creek Towne Center near Cincinnati. The Cleveland shopping center is 94% leased and the Cincinnati shopping center is 98% occupied. Inland financed both deals with a $60.2-million loan from New York-based Cantor Fitzgerald LP. For the full story, go to Crain's Chicago Business .
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