Friday, April 26, 2013
Inland American Sells Office Tower
I have a bunch of articles to link to and comment upon where appropriate. Here is a Bloomberg article on Inland American selling a Minneapolis office tower, the tallest building in Minnesota, for $253 million. The REIT bought the 57-story building in 2006 for $277 million. I'm not sure of the original acquisition timing, but I'd guess Inland American bought this property sometime after it received a huge equity inflow resulting, in part, from the mostly cash sale of one of its non-traded REITs to Developers Diversified.