Inland Real Estate Investment Corp., a real estate investment manager with more than $16 billion in assets under management, has announced the completion of more than $120 million in capital raised for a private investment offering, Wheaton Multifamily DST, a Delaware statutory trust sponsored by Inland Private Capital Corp. The offering has been fully subscribed by investors and is now closed.
The DST owns Wheaton 121 Apartments, a class A multifamily community located at 121 North Cross St. in Wheaton, Ill., a suburb located 25 miles west of downtown Chicago. The property consists of a seven-story building providing 306 apartment homes, composed of five studio, 217 one-, 80 two- and four three-bedroom units.
“The multifamily sector is continuing to expand, with demand steadily recovering in the face of recent economic challenges, including high interest rates, limited home supply and affordability issues,” said Matthew Fries, CEO and president of Inland Investmen
