During a fourth-quarter 2006 conference call with Wall Streetanalysts, Robert Parks, president and CEO, said the companyanticipates pursuing approximately $100 million in IREX's 1031program this year. "We expect to do between $20 million and $25million a quarter," he said, adding, "annually, we're verycomfortable and confident with this (projection). They (IREX)believe there's much greater demand for that kind of product.

"We can source properties, and they can sell them," Parks said.The first, Honey Creek Commons in Terre Haute, IN, "went intosyndication in December and was fully subscribed –sold out –withinone and a half weeks." He described the 1031 Exchange program as a"huge national market," with about 100 competitors, which is"pretty much unlimited."

Inland acquired the 101,000-sf Ravinia Plaza Shopping Center inOrland Park, IL, in joint venture with NYSTRS for $18.1 millionduring fourth quarter. With this acquisition, the Inland/NYSTRSjoint venture has acquired about $315 million of its $400 millionacquisition goal over its first two years. Parks acknowledged thatthis occurred "despite a difficult acquisition environment forquality retail properties."