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M&A Deal Summary

IRC Retail Centers Acquires Cedar Center South

On September 10, 2013, IRC Retail Centers acquired real estate company Cedar Center South for 25M USD

Acquisition Highlights
  • This is IRC Retail Centers’ 24th transaction in the Real Estate sector.
  • This is IRC Retail Centers’ 10th largest (disclosed) transaction.
  • This is IRC Retail Centers’ 24th transaction in the United States.
  • This is IRC Retail Centers’ 2nd transaction in Ohio.

M&A Deal Summary
Date 2013-09-10
Target Cedar Center South
Sector Real Estate
Buyer(s) IRC Retail Centers
Deal Type Add-on Acquisition
Deal Value 25M USD

Target

Cedar Center South

Cleveland,, Ohio, United States
Cedar Center South is a 139,000 square foot shopping center. Cedar Center South is anchored by a 45,300-square-foot Whole Foods grocery store – one of two serving all of the eastern Cleveland metropolitan area – and a 12,100-square-foot CVS/pharmacy, both on long-term leases that provide a stable, high credit quality income stream.

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Buyer(S) 1

Buyer

IRC Retail Centers

Oak Brook, Illinois, United States
Category Company
Founded 1994
Sector Real Estate
Employees141
Revenue 204M USD (2014)
DESCRIPTION
Inland Real Estate's corporate headquarters in Oak Brook, Illinois.
Inland Real Estate's corporate headquarters in Oak Brook, Illinois.

IRC Retail Centers LLC is a real estate company focused on owning and operating open-air neighborhood, community, and power shopping centers located in well-established markets primarily in the Central and Southeastern U.S. IRC Retail Centers was founded in 1994 and is based in Oak Brook, Illinois.

DEAL STATS #
Overall 24 of 32
Sector: Real Estate M&A 24 of 32
Type: Add-on Acquisition M&A Deals 18 of 23
State: Ohio M&A 2 of 2
Country: United States M&A 24 of 32
Year: 2013 M&A 2 of 5
Size (of disclosed) 10 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-03 Valparaiso Walk Shopping Center

Valparaiso, Indiana, United States

Valparaiso Walk, a 137,509-square-foot power center.Valparaiso Walk is located at the intersection of Silhavy Road and LaPorte Avenue in Valparaiso, Indiana, which is within the Chicago Metropolitan Statistical Area (MSA).

Buy $22M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-12 Walmart-Anchored Shopping Centers

United States

Walmart-Anchored Shopping Centers is a portfolio totals approximately 174,500 square feet of retail space. The portfolio includes the 62,307-square-foot Capital and 124th shopping center in Wauwatosa, the 71,927-square-foot Pilgrim Village shopping center in Menomonee Falls, and the 40,302-square-foot Timmerman Plaza in Milwaukee.

Buy $24M
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