$230 million office purchase puts spotlight on Inland REIT

Bucking the headwinds of a troubled commercial property market, Inland American Real Estate Trust, a nontraded REIT, paid $230 million for a New Jersey office complex, putting $40 million in cash into the transaction and assuming $190 million of existing debt. Real Capital Analytics said that was one of the highest prices paid for an office property in the U.S. this year.

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