Inland American Real Estate Trust Inc. recently purchased 3.8 million square feet of retail and industrial space in two portfolios in several Sun Belt states.
The total value of the portfolios — both sold by ProLogis — was not disclosed.
The 1.5 million-square foot Six Pines portfolio, purchased for approximately $256.6 million, includes 13 Tom Thumb-anchored shopping centers located in demographically strong areas of Texas surrounding Dallas and Austin, as well as eight Kroger and Publix-anchored centers in the Southeast.
The 2.3 million-square-foot industrial portfolio — all in Tennessee — includes 18 properties surrounding Memphis and two buildings in Chattanooga.
Inland American Real Estate Trust, Inc. is a real estate investment trust currently in its offering stage, focused on the ownership and management of a diversified portfolio, including retail, office, multifamily and industrial properties within the United States and Canada.