Inland Private Capital Corporation Announces the Sale of Disney-Occupied Office Building in Celebration, Florida for $31.1 Million

OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Private Capital Corporation announced today the $31.1 million sale of a six-story, 193,463-square-foot office property that is 100 percent occupied by Walt Disney World Co. Completed in 2000, the building is located at 220 Celebration Place in Celebration, Fla., within the Celebration planned development, which includes high-end single-family homes and apartments as well as a town center with restaurants and shopping areas. An unaffiliated third party purchased the single-tenant property, which Inland Private Capital Corporation syndicated to a group of private tenant-in-common investors in 2002.

“The investors chose to sell the property rather than refinance the original loan after having benefitted from stable annual cash-on-cash returns ranging from 8 to 10 percent over the past decade.”

“We’re pleased to complete another successful program on behalf of our investors,” said Rahul Sehgal, senior vice president of Inland Private Capital Corporation. “The investors chose to sell the property rather than refinance the original loan after having benefitted from stable annual cash-on-cash returns ranging from 8 to 10 percent over the past decade.”

There are approximately five years remaining on the property’s lease. Stan Johnson Company facilitated the sale, which resulted in an overall internal rate of return of more than 8 percent.

About Inland Private Capital Corporation

Inland Private Capital Corporation, based in Oak Brook, Ill., offers replacement property investments for persons participating in a 1031 tax deferred exchange, as well as opportunities for investors who are seeking a real estate investment. Inland Private Capital Corporation is a part of the Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). Inland has been ranked one of the largest shopping center owners in North America (Retail Traffic, May 2012). As of March 31, 2012, Inland owned and managed in total over 129.3 million square feet of diversified commercial real estate in 48 states, as well as managed assets in excess of $25.8 billion.