Inland Residential Properties Trust, Inc. Initial Public Offering Declared Effective by SEC
Nicole Spreck
Inland CommunicationsFebruary 18, 2015
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.
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.
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.
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.