Maryland-based Inland Core Assets Real Estate Trust
will attempt to raise $1.8 billion from investors to acquire a portfolio of commercial real estate throughout the U.S., according to a recent filing with the Securities and Exchange Commission
The company will offer 150 million shares at $10 per share through its deal manager Inland Securities Corp.
It will also offer up to 30 million shares at $9.50 per share to investors who elect to participate in a distribution reinvestment plan. The company expects to be taxed as a REIT.
Inland is currently registered as a nontraded REIT but has not yet been approved by the SEC.
It will focus on retail properties, office buildings, multifamily and warehouse properties.
Investors must purchase a minimum of 300 shares.
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