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InvenTrust Acquires $21.5 Million San Antonio Shopping Center

InvenTrust Properties Corp., a publicly registered non-traded real estate investment trust formerly known as s Inland American Real Estate Trust, acquired Sonterra Village Shopping Center in San Antonio, Texas for approximately $21.5 million.

Sonterra Village is a newly constructed, 42,492-square-foot shopping center anchored by Trader Joe’s with a mixture of restaurants, fitness, lifestyle and soft goods retailers including Zoës Kitchen, Denver Mattress Company, and Orange Theory Fitness.

“The acquisition of Sonterra Village is complementary to our four existing properties in the highly-attractive and fast-growing San Antonio market, and we are pleased to enhance our portfolio with this strong asset,” said Michael E. Podboy, executive vice president – chief financial officer, chief investment officer of InvenTrust. “The center’s ABR and income demographics are accretive to our retail portfolio of assets.”

As reported by The DI Wire earlier this month, InvenTrust agreed to sell its student housing platform, University House Communities Group Inc., for $1.4 billion. The transaction is expected to close in mid-2016.

As of September 30, 2015, InvenTrust owned 128 multi-tenant retail properties (including 18 JV assets), comprising 19 million square feet of retail space in 24 states.

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