Inland Real Estate Investment Corporation has completed an $83.6 million equity raise for its Union Multifamily DST, a Delaware statutory trust sponsored by Inland Private Capital Corporation, marking another fully subscribed offering amid sustained investor demand for tax-advantaged real estate vehicles.
The DST owns Summit Court Apartments, a Class A multifamily community located in Union Township, New Jersey. The property was developed in two phases, with initial construction completed in 2018 and a second phase delivered in 2023, reflecting a modern asset profile in a high-demand commuter market.
“Summit Court exemplifies the high-quality, well-located multifamily communities we continue to target,” said Matthew Fries, chief executive officer and president of Inland Investments. “Located just 25 minutes from Manhattan, the property offers residents convenient transit access, proximity to major employment hubs and a modern amenity set that aligns with today’s renter preferences.”
The transaction builds on a series of recent Inland capital raises, including a $71.7 million equity raise for Inland Jersey City Multifamily DST, a $120 million offering for Wheaton Multifamily DST and a $149 million raise for its National Senior Living Portfolio DST, signaling continued momentum across the platform’s DST pipeline.
Inland member companies have facilitated more than $56 billion in real estate acquisitions since inception and currently manage approximately $16 billion in assets across 42 states.
Pictured: Summit Court Apartments
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