Inland Private Nets 123% Return with Sale of Indiana FedEx Ground Facility

Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, sold a FedEx Ground facility located in Zionsville, Indiana, for a gross sale price of $37.1 million. The company facilitated the sale of the property on behalf of one of its 1031 investment programs.

Situated on two land parcels totaling more than 49 acres, the property is located at 10301 Bennett Parkway in Zionsville, a suburban town located approximately 17 miles northwest of downtown Indianapolis. Constructed in early 2014, the approximately 303,000-square-foot building solely serves as the FedEx distribution center.

“This investment was another very successful full-cycle transaction for IPCC’s investors,” said Keith Lampi, president and chief operating officer of IPCC. “We purchased the property in September 2014, and it performed positively, resulting in a substantial return for our investors and an opportunity for them to invest a significant portion of the proceeds into other properties owned by different Inland-sponsored programs.”

The sale resulted in a total return to the investors of 123 percent (calculated based on the total amount of original capital invested in the property). In addition, the sale resulted in an 11.95 percent average annual return (calculated using the cash flow from the property’s operations, the proceeds from the sale, and the duration of the hold period to determine an annualized rate of return, inclusive of all fees and expenses).

Last month, the company sold a Mariano’s Fresh Market in Illinois which landed investors a total return of 148 percent.

Inland Private Capital Corporation offers replacement properties for 1031 tax deferred exchanges, as well as opportunities for accredited investors who are seeking a real estate investment. As of July 31, 2016, IPCC had sponsored 191 private placement programs. The 191 private placement programs include 488 properties, comprised of more than 29 million square feet of gross leasable area for a total offering price in excess of $5.9 billion.

Visit Inland Private Capital Corporation in The DI Wire’s directory here.