Inland Closes $120M Wheaton Multifamily DST
Inland Real Estate Investment Corporation has completed more than $120 million in capital raised for Wheaton Multifamily DST, a private Delaware statutory trust sponsored by Inland Private Capital Corporation. The offering is now fully subscribed and closed.
The DST owns Wheaton 121 Apartments, a seven-story, 306-unit Class A multifamily community in Wheaton, Illinois. The property includes five studios, 217 one-bedroom units, 80 two-bedroom units and four three-bedroom layouts.
“The multifamily sector is continuing to expand, with demand steadily recovering in the face of recent economic challenges, including high interest rates, limited home supply, and affordability issues,” said Matthew Fries, CEO and president of Inland Investments. “Many individuals are turning to high-quality rental options with community-driven, luxury amenities in desirable locations.”
The raise follows Inland Investments’ December announcement that it had successfully completed more than $149 million in capital raised for its National Senior Living Portfolio DST (The Parent Trust). Across its platform, Inland member companies have facilitated more than $56 billion in acquisitions since inception and currently manage a diverse real estate portfolio of approximately $16 billion across 42 states.
Pictured: Wheaton 121 Apartments
