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BOSTON-Inland Institutional Capital Partners, a private-equity firm that is part of the Oak Brook, IL-based Inland Real Estate Group of Cos., will invest up to $100 million in Concord Debt Holdings, a debt entity that is a joint venture between locally based Winthrop Realty Trust and Lexington Realty Trust.

Inland is doing the deal through its Inland American Real Estate Trust unit, which owns 882 properties across a variety of commercial sectors. It is initially investing $20 million into the venture, and executives expect to increase that to $100 million over the next 18 months.

“The current dislocation in the credit markets has produced attractive opportunities to invest in commercial real estate loans,” says George Pandaleon, president of Inland Institutional Capital Partners, in a press release.

Inland’s contributions toward Concord Debt will be used to acquire additional debt instruments. The firm’s management is expecting a 10% return on its investment.

Says Michael Ashner, Winthrop’s chief executive officer, Inland’s investment “will enable the company to continue to grow and improve its earnings through the acquisition of higher yielding debt investment opportunities reflective of the current real estate loan market.”

Winthrop is the owner of retail, offices and industrial assets across the nation. New York City-based Lexington Realty Trust specializes in the investment of single-tenant commercial properties and owns 311 of those assets.

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