Market Overview

Inland Real Estate Acquisitions, LLC Closes the Purchase of a Florida Multifamily Property


Inland Real Estate Acquisitions, LLC announced today that it negotiated
and closed the purchase of Laurel Oaks Apartments, a 192-unit
multifamily property located in Tampa, Florida. Matthew Tice, senior
vice president of Inland Real Estate Acquisitions, LLC, completed the
deal, with assistance from Brett Smith, vice president and associate
counsel of The Inland Real Estate Group, LLC, Law Department, on behalf
of an Inland affiliate.

Located at 8781 Orange Leaf Court, the property underwent interior and
exterior renovations in 2016 and 2017. The property consists of 24
two-story buildings with 20 one-bedroom, 152 two-bedroom and 20
three-bedroom units. Laurel Oaks Apartments also features a recently
renovated clubhouse and new playground area, a fitness center, swimming
pool, pet park, sun deck, lighted tennis courts, a sand volleyball court
and a grilling area.

"Laurel Oaks Apartments was an attractive acquisition opportunity
because of the need it fills for the community of more than 162,000
residents within a five-mile radius," said Tice. "Offering modest rental
rates compared to the surrounding apartment communities, the property's
value-add upgrades and sought-after community amenities offer an
affordable workforce housing solution for the variety of employees in
the area. Located on the northeast side of Tampa, Laurel Oaks Apartments
is situated in a nice community approximately 10 minutes from the
University of South Florida, Florida Hospital, Moffitt Cancer Center and
Seminole Hard Rock Hotel & Casino."

As of August 6, 2018, the property was 95 percent occupied.

To date, Inland Real Estate Acquisitions, LLC has facilitated more than
$46 billion of purchases including single-tenant properties, medical
office buildings, retail properties and a total of more than $5 billion
in apartments.

About Inland Real Estate Acquisitions, LLC

Inland Real Estate Acquisitions, LLC assists in identifying potential
acquisition opportunities, negotiates acquisition-related contracts and
acquires real estate assets for the various entities that are a part of
The Inland Real Estate Group of Companies, Inc., one of the nation's
largest commercial real estate and finance groups, which is comprised of
independent legal entities, some of which may be affiliates, share some
common ownership or have been sponsored and managed by such entities or
subsidiaries thereof (collectively, "Inland"). For additional
information, please refer to Inland's website at

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