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OAK BROOK, IL-Inland American Real Estate Trust Inc., a public non-traded REIT, has purchased five retail centers in the Southeast and Southwest for a combined $209 million. Inland Real Estate Acquisitions Inc., the purchasing arm of the locally-based Inland Real Estate Group of Cos., acquired the properties for the REIT.

The properties include University Oaks (235,906 square feet) in Round Rock, TX, Prestonwood Town Center (233,182 square feet) in Dallas, McKinney Towne Crossing (224,755 square feet) in McKinney, TX, Tulsa Hills (376,573 square feet) in Tulsa, OK and Heritage Crossing (311,678 square feet) in Wilson, SC, for a total of almost 1.4 million square feet. The portfolio is about 92% occupied, says Matt Tice, VP with Inland Real Estate Acquisitions.

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