InvenTrust Properties

InvenTrust Properties Corp. is a real estate investment trust that invests in shopping malls. As of December 31, 2022, the company owned interests in 62 properties comprising 10.3 million square feet.[1]

InvenTrust Properties Corp.
TypePublic company
NYSE: IVT
IndustryReal estate investment trust
Founded2004 (2004)
HeadquartersDowners Grove, Illinois
Key people
Daniel J. Busch, President & CEO
Michael Phillips, CFO
ProductsShopping malls
RevenueIncrease $236 million (2022)
Increase $52 million (2022)
Total assetsIncrease $2.473 billion (2022)
Total equityIncrease $1.603 billion (2022)
Number of employees
106 (2022)
Websitewww.inventrustproperties.com
Footnotes / references
[1]

History

The company was launched in 2005 as Inland American Real Estate Trust.[2]

In 2012, Inland Western completed an initial public offering.[3][4]

As of February 2014, the company was the largest non-publicly traded real estate investment trust in the United States.[2]

In March 2014, the firm announced that functions performed by its external, related-party managers would now be performed by the REIT itself.[5]

In September 2014, the company sold its select-service hotel portfolio to NorthStar Realty Finance (now DigitalBridge) for $1.1 billion. The proceeds of $480 million were invested in shopping malls and student housing.[6][7]

In February 2015, the company completed the corporate spin-off of Xenia Hotels & Resorts to its shareholders.[8][9]

In April 2015, the company changed its name to InvenTrust Properties.[10][11]

In April 2016, the company completed the corporate spin-off of Highlands REIT.[12]

In June 2016, the company sold its student housing division to a group including the CPP Investment Board for $1.4 billion.[13][14]

In October 2021, the company became a public company.[15][16]

References
  1. "InvenTrust Properties Corp. 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. Kelly, Bruce (February 10, 2014). "Huge non-traded REIT getting liquid?". Investment News.
  3. GALLUN, ALBY (October 17, 2013). "Stepping up the money chase". Crain Communications.
  4. Gallun, Alby (March 31, 2012). "Inland's Sword of Damocles". Crain Communications.
  5. "Inland American Real Estate Trust, Inc. Reaches Important Milestone – Signs Agreements to Become Self-Managed" (Press release). Business Wire. March 13, 2014.
  6. "Inland American Announces Sale of Select Service Hotel Portfolio for $1.1 Billion" (Press release). Business Wire. September 18, 2014.
  7. WHITEMAN, LOU (September 18, 2014). "NorthStar Realty Finance Inks $1.1B Deal for Inland Properties". TheStreet.com.
  8. "Inland American Completes Spin-off of Xenia Hotels & Resorts, Inc" (Press release). Business Wire. February 4, 2015.
  9. "Xenia Hotels REIT Goes Public After Spinoff From Inland". Law360. February 4, 2015.
  10. "Inland American Real Estate Trust Inc. Changes Its Name to InvenTrust Properties Corp" (Press release). Business Wire. April 16, 2015.
  11. Borland, Kelsi Maree (April 27, 2015). "Inland American Becomes InvenTrust Properties". GlobeSt.com.
  12. "InvenTrust Properties Corp. Completes Spin-off of Highlands REIT, Inc" (Press release). Business Wire. April 28, 2016.
  13. "InvenTrust Properties Corp. Announces $1.4 Billion Purchase Agreement to Divest University House, Its Student Housing Platform" (Press release). Business Wire. January 4, 2016.
  14. Morphy, Erika (July 1, 2016). "InvenTrust Closes UHC Student Housing Portfolio Sale". GlobeSt.com.
  15. "InvenTrust Properties Corp. Announces Listing of its Common Stock on the NYSE and Ringing of the Closing Bell" (Press release). Business Wire. October 12, 2021.
  16. GALLUN, ALBY (October 14, 2021). "Will Wall Street warm to this Downers Grove shopping center owner?". Crain Communications.
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