CHICAGO- The Inland Real Estate Corporation, an unlisted shopping center REIT with properties throughout the Midwest, has raised its dividend by 3 cents a share to $0.92 a share, the trust’s board announced.

Seperately, the board also announced that Joel Simmons, a long time partner at real estate investment banker Cohen Financial, has joined Inland REIT as a director of the trust. During his 16 years at Cohen, the board said Mr. Simmons has structured and arranged over $1.7 billion of financings in over 400 transactions.

Inland owns 119 community shopping centers totaling 9.47 million-sf of retail space in Minnesota, Wisconsin, Illinois, Michigan, Indiana and Ohio. Many of Inland’s shopping centers are grocery store anchored.

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