IPC sells $265m self-storage sale

Inland Private Capital Corp. (IPC) announced the $265 million sale of a 34-property portfolio of self-storage assets, providing liquidity to three of its sponsored Delaware statutory trust (DST) programs.

The portfolio sale included the properties owned by Self-Storage Portfolio I DST ($129.8 million), Self-Storage Portfolio II DST ($54.7 million) and Self-Storage Portfolio IV DST ($80.4 million).

The transaction resulted in a total return to the investors ranging from 160 percent to 183 percent, with a weighted average total return of 169 percent (calculated based on the aggregate amount of original capital invested in the properties).

Self-Storage Portfolio I DST was comprised of 17 self-storage properties, totaling 1,043,195 square feet and 7,612 rentable units. The properties, all purchased by the DST in 2016, are located in Georgia (two), Kansas (four) and Texas (11). Self-Storage Portfolio II DST included eight self-storage properties, to