Inland JV Buys Six Retail Properties for $296M

OAK BROOK, IL-A joint venture of Inland Diversified Real Estate Trust and Territory Inc. acquired the majority interest in six retail properties in Las Vegas for approximately $296.3 million.

The portfolio purchase by a subsidiary of Inland Diversified and affiliates of the seller Territory, one of Nevada’s top developers of open-air shopping centers, involves six retail centers totaling about 1.7 million sf, company officials say in a prepared release. The properties were built between 1999 and 2009 and are anchored by grocery or home improvement retailers. Inland states that among the anchor tenants are Wal-Mart, Sam’s Club and Lowe’s Home Improvement.