InvenTrust Properties Corp. is a real estate investment trust that invests in shopping malls. As of December 31, 2023, the company owned interests in 62 properties comprising 10.3 million square feet.[1]
 | |
| Company type | Public company |
|---|---|
| NYSE: IVT | |
| Industry | Real estate investment trust |
| Founded | 2004 |
| Headquarters | Downers Grove, Illinois |
Key people | Daniel J. Busch, President & CEO Michael Phillips, CFO |
| Products | Shopping malls |
| Revenue |  $258 million (2023) |
 $5 million (2023) | |
| Total assets | $2.487 billion (2023) |
| Total equity | $1.554 billion (2023) |
Number of employees | 104 (2023) |
| Website | www |
| Footnotes / references [1] | |
Timeline
editThe 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
edit- ^ a b "InvenTrust Properties Corp. 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 14, 2024.
- ^ a b Kelly, Bruce (February 10, 2014). "Huge non-traded REIT getting liquid?". Investment News.
- ^ GALLUN, ALBY (October 17, 2013). "Stepping up the money chase". Crain Communications.
- ^ Gallun, Alby (March 31, 2012). "Inland's Sword of Damocles". Crain Communications.
- ^ "Inland American Real Estate Trust, Inc. Reaches Important Milestone – Signs Agreements to Become Self-Managed" (Press release). Business Wire. March 13, 2014.
- ^ "Inland American Announces Sale of Select Service Hotel Portfolio for $1.1 Billion" (Press release). Business Wire. September 18, 2014.
- ^ WHITEMAN, LOU (September 18, 2014). "NorthStar Realty Finance Inks $1.1B Deal for Inland Properties". TheStreet.com.
- ^ "Inland American Completes Spin-off of Xenia Hotels & Resorts, Inc" (Press release). Business Wire. February 4, 2015.
- ^ "Xenia Hotels REIT Goes Public After Spinoff From Inland". Law360. February 4, 2015.
- ^ "Inland American Real Estate Trust Inc. Changes Its Name to InvenTrust Properties Corp" (Press release). Business Wire. April 16, 2015.
- ^ Borland, Kelsi Maree (April 27, 2015). "Inland American Becomes InvenTrust Properties". GlobeSt.com.
- ^ "InvenTrust Properties Corp. Completes Spin-off of Highlands REIT, Inc" (Press release). Business Wire. April 28, 2016.
- ^ "InvenTrust Properties Corp. Announces $1.4 Billion Purchase Agreement to Divest University House, Its Student Housing Platform" (Press release). Business Wire. January 4, 2016.
- ^ Morphy, Erika (July 1, 2016). "InvenTrust Closes UHC Student Housing Portfolio Sale". GlobeSt.com.
- ^ "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.
- ^ GALLUN, ALBY (October 14, 2021). "Will Wall Street warm to this Downers Grove shopping center owner?". Crain Communications.