Oak Brook, Ill. – Inland Residential Properties Trust, Inc. (“Inland Residential Trust”), a nonlisted real estate investment trust (REIT), announced that it will begin selling $1 billion of common stock, Class A and Class T Shares, in connection with its initial public offering, pursuant to a registration statement declared effective by the U.S. Securities and Exchange Commission on Tuesday, February 17, 2015.
The purchase price for Inland Residential Trust Class A Shares is $25.00 per share and for Inland Residential Trust Class T Shares is $23.95 per share. Inland Residential Trust also is offering up to $190 million of Class A Shares to be issued pursuant to its distribution reinvestment plan. The distribution reinvestment plan purchase price for Class A Shares is $23.75. Inland Residential Trust intends to use the proceeds from this offering primarily to acquire a geographically diverse portfolio of Class A and Class B multifamily properties located within the top 100 metropolitan statistical areas throughout the United States, which generally have populations greater than 500,000. Inland Residential Trust is offering the Class A and Class T Shares on a “reasonable best efforts” basis through Inland Securities Corporation, the dealer manager for the offering.
A copy of the prospectus for Inland Residential Trust may be obtained on the SEC’s website at: www.sec.gov.
About Inland Residential Properties Trust, Inc.
Inland Residential Properties Trust, Inc. was formed to acquire, directly or indirectly, a geographically diverse portfolio of Class A and Class B multifamily properties located within the top 100 metropolitan statistical areas throughout the United States. Inland Residential Properties Trust, Inc. is sponsored by Inland Real Estate Investment Corporation.
