Inland Residential Properties Trust, Inc. Announces its Board of Directors

OAK BROOK, Ill.--(BUSINESS WIRE)--

Inland Residential Properties Trust, Inc. ("Inland Residential Trust"), a non-listed real estate investment trust ("REIT"), today announced the five members of its Board of Directors. Inland Residential Trust is the newest company to be sponsored by Inland Real Estate Investment Corporation ("Inland Investments"), sponsor of six previous REITs.

The Inland Residential Trust Board of Directors includes:

Daniel L. Goodwin, Director and Chairman of the Board –

Mr. Goodwin is the chairman and chief executive officer of The Inland Real Estate Group of Companies, Inc. He is the former chairman of the board and a current director of Inland Real Estate Corporation, a public company listed on the New York Stock Exchange IRC. He is chairman of the NAREIT Non-traded REIT Council, and is chairman of the board of Inland Bancorp, a multi-bank holding company.

In 2009 and 2014, the Better Business Bureau presented the Ethics in Business Award to Mr. Goodwin and The Inland Real Estate Group of Companies. In 2014, the Chicago Association of REALTORS^® also honored The Inland Real Estate Group of Companies, Inc. as its first Corporate Hall of Fame inductee. Mr. Goodwin is a member of the National Association of REALTORS^® President's Circle, the National Association of REALTORS^® Hall of Fame, the Illinois Association of REALTORS^® Hall of Fame and the Chicago Association of REALTORS^® Hall of Fame.

Mitchell A. Sabshon, Director, President and Chief Executive Officer –

Mr. Sabshon is the chief executive officer, president and a director of Inland Real Estate Investment Corporation. He also serves as the chief executive officer and director of Inland Real Estate Income Trust, Inc., the sixth REIT sponsored by Inland Investments. Mr. Sabshon is responsible for leading the execution of Inland Investments' long-term business strategy and capitalizing on new opportunities for new product development and growth. Prior to joining Inland, he served as chief operating officer of Cole Real Estate Investments and held several senior executive positions at leading financial services firms, including Goldman, Sachs & Co. and Lehman Brothers. Prior to that, Mr. Sabshon practiced law at Skadden, Arps, Slate, Meagher & Flom in New York. Mr. Sabshon serves on the Board of the Investment Program Association and on the Board of Governors of the Commercial Real Estate Finance Council. He is also a member of NAREIT, the International Council of Shopping Centers, Mortgage Bankers Association and Urban Land Institute.

Adrian Corbiere, Independent Director –

Mr. Corbiere has nearly 30 years of commercial real estate and financial investment experience. He currently serves as a consultant and advisor to the senior management committee for Bellwether Enterprise, a commercial real estate mortgage banking firm. Mr. Corbiere previously served as executive vice president and partner for Cohen Financial in Chicago, where he was responsible for the capital markets group. He was also the senior vice president of the multifamily division at Freddie Mac for eight years, and was a managing director at Allstate Insurance Corporation where he was responsible for public and private real estate equity, commercial mortgage and CMBS investments.

Michael W. Reid, Independent Director and Audit Chair –

Since 2009, Mr. Reid has served as a partner at Herald Square Properties, a real estate investment and management company that manages six office buildings totaling nearly 1.9 million square feet in Manhattan. He has nearly 34 years of investment banking and real estate experience, including heading Lehman Brothers REIT equity practice for nine years as managing director in the Global Real Estate Department. Mr. Reid also served as chief operating officer at SL Green Realty Corporation from 2001-2004, where his responsibilities included strategic planning, finance and reporting, capital markets, operations and budgeting for a $4 billion publicly-traded REIT. Since 2009, Mr. Reid has served as a director and audit committee member of Capital Senior Living and recently became the audit chair and a member of the compensation committee.

Donald E. Tolva, Independent Director –

Mr. Tolva is the founder and owner of The Store House Company (formally BHC Company), a real estate investment firm that has successfully completed joint ventures with lending institutions, consulted on distressed real estate, managed properties, acquired and sold properties for its own accounts as well as outside investors and has developed multi-family residential, single-family residential and self-storage properties. Prior to starting his own business, Mr. Tolva practiced law, focusing on the representation of savings and loan associations and mortgage bankers. He briefly worked as an Assistant Illinois Attorney General assigned to the Illinois Commerce Commission, and was appointed by the Illinois Governor and served as a member of the International Trade Advisory Committee to the Illinois Department of Business and Economic Development.

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 primarily within the top 100 metropolitan statistical areas throughout the United States. Inland Residential Properties Trust, Inc. is sponsored by Inland Real Estate Investment Corporation.

This is neither an offer to sell nor the solicitation of an offer to buy any security, which can be made only by the prospectus which has been filed or registered with appropriate state and federal regulatory agencies, nor will there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. No regulatory agency has passed on or endorsed the merits of this offering. Any representation to the contrary is unlawful.