Inland Completes $71.7M Raise for Jersey City Multifamily DST
Inland Real Estate Investment Corporation has completed a more than $71.7 million equity raise for Inland Jersey City Multifamily DST, a Delaware statutory trust sponsored by Inland Private Capital Corporation.
The offering is now fully subscribed and closed. The DST owns 295J Apartments, a Class-A multifamily community in Jersey City, New Jersey, comprising 309 units across a mix of studio, one-, two- and three-bedroom layouts. The property also includes 3,860 square feet of ground-floor commercial space, positioning it within a mixed-use urban environment.
“The multifamily sector presents a significant growth opportunity as the U.S. faces a major housing shortfall, affordability concerns and ongoing high interest rates,” said Matthew Fries.
The transaction builds on a series of recent capital raises by Inland, including a $120 million offering for Wheaton Multifamily DST and a $149 million raise for its National Senior Living Portfolio DST.
Across its broader platform, Inland member companies have facilitated more than $56 billion in real estate acquisitions and currently manage approximately $16 billion in assets spanning 42 states.
Pictured: Class-A multifamily community in Jersey City, NJ
