Inland Private Capital Corporation has raised $83.7 million to date for its private placement National Multifamily Portfolio IV, which is seeking to raise approximately $138 million. The latest fundraising total was reported in a January filing with the SEC.
National Multifamily Portfolio IV, which began fundraising in September 2018, will own a portfolio of four multifamily properties located in Birmingham, Ala.; Chandler, Ariz.; Lakewood, Colo.; and Tampa, Fla. Inland will seek to add value to the properties through occupancy and rent growth during the hold period. Shares of the offering are available to qualified, accredited investors, with a minimum investment of $25,000.
The property in Birmingham, 150 Summit Apartments, totals 640 units, while Avila Grace in Chandler comprises 194 units. Silver Reef Apartments in Lakewood has 419 units, and Laurel Oaks in Tampa totals 192 apartments.
Inland Investments is a sponsor of alternative public and private real estate securities and provides opportunities for individuals to invest in real estate programs. Inland Real Estate Investment Corporation is a part of The Inland Real Estate Group of Companies, Inc.
Through June 30, 2018, IPC-sponsored private placements have totaled 604 properties comprised of more than 41.9 million square feet of gross leasable area and including 15,343 residential units.
