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Inland Real Estate Acquires Long Beach Beachfront Multifamily Property
Wednesday 21 October 2020

Illinois, US-based Inland Real Estate acquisitions, LLC has purchased a 109-unit multifamily property, recently renamed 10 West Apartments, located in Long Beach, New York, the company said.

Terms of the transaction were not disclosed.

The building was renovated from 2013 to 2018 following Hurricane Sandy and benefits from a USD 44m coastal restoration completed by The US Army Corps of Engineers, in which the beach size was increased to prevent storm and wave action from causing damage to the local boardwalk and homes.

The property was 99 % occupied at closing.

Inland Real Estate acquisitions, LLC assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts and acquires real estate assets for the various entities that are a part of The Inland Real Estate Group of Companies, Inc., a commercial real estate and finance groups.
Date Published: 21/10/2020