Inland American buys 16 retail centers for $424 million

03/7/2010 | American City Business Journals

Inland American Real Estate Trust has acquired 16 shopping centers for $424 million. TIAA-CREF and Developers Diversified Realty owned the properties under a joint venture. "This portfolio represents the type of core retail real estate assets that play a prominent role in people's everyday lives, and we believe that makes it an attractive investment," says Mark Cosenza, vice president of Inland Real Estate Acquisitions.

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