The Inland Real Estate Group lives, eats, breathes, and sleeps real estate. Through a number of affiliated firms, the group provides commercial real estate services including property investment, portfolio management, lending, brokerage, development, and property management/leasing. Through real estate investment trusts (REITs), Inland primarily invests in retail properties. Its portfolio (worth some $26 billion) includes more than 120 million sq. ft. of commercial space throughout the US. Publicly traded Inland Real Estate Corporation invests in properties in the Midwest; private REIT Inland American invest in the US and Canada.
A former affiliate, Retail Properties of America (once called Inland Western), went public in 2012. The REIT owns and operates more than 300 high-end shopping centers in more than 35 states.
Inland Real Estate doesn't limit itself to shopping centers: It also buys, sells, markets, and manages industrial, office, hospitality, and health care properties. The group's acquisitions arm, Inland Real Estate Acquisitions, buys retail, office, and multifamily residential properties throughout the US. Inland Real Estate Development sells real estate sites for commercial and residential use in and around Chicago. Other divisions provide development services in the Southeast, real estate auction services, alternative development options for public projects, and property exchange services for capital gains benefits.
Inland's appetite for acquisitions remains strong. It spent more than $3 billion on some 150 properties between 2009 and 2010. One of the biggest deals was the $427 million purchase of 30 US shopping centers from Australia's Macquarie Group. The 2009 transaction highlighted Inland as one of the few real estate investors that was still buying as the global economy had fallen and credit markets had frozen. The following year Inland bought a $424 million portfolio of 16 shopping centers from TIAA-CREF and Developers Diversified Realty. Inland is focused acquiring properties with strong tenants, heavy traffic, and no renovation needs.
Also in 2009 Inland created its fifth REIT, Inland Diversified Real Estate. The publicly traded investment trust acquires commercial real estate (primarily retail properties) in the US and Canada.
In 2011 the company formed Inland Real Estate Brokerage & Auctions, Inc. after it combined two seperate units. The new company handles what Inland expects to be an influx of investment sales activity as banks begin to unload nonperforming real estate assets.
Former teacher and CEO Daniel Goodwin teamed up with three friends (also teachers) and pooled $1,000 to start the group in 1967.