Joint Venture • Real Estate

IRC Retail Centers Acquires Silver Lake

On February 24, 2012, IRC Retail Centers acquired real estate company Silver Lake for 36M USD

Acquisition Context
  • This is IRC Retail Centers’ 20th transaction in the Real Estate sector.
  • This is IRC Retail Centers’ 6th largest (disclosed) transaction.
  • This is IRC Retail Centers’ 20th transaction in the United States.
  • This is IRC Retail Centers’ 3rd transaction in Minnesota.

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M&A Deal Summary

Date February 24, 2012
Target Silver Lake
Sector Real Estate
Buyer(s) IRC Retail Centers
Deal Type Joint Venture
Deal Value 36M USD

Target Company

Silver Lake

Minnesota, United States
Silver Lake Village, a grocery-anchored community center totals approximately 159,303 square feet of gross leasable area (GLA), plus a 144,046-square-foot Wal-Mart store on a ground lease.
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Buyer Overview 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 Context for Buyer #
Overall 20 of 32
Sector: Real Estate 20 of 32
Type: Joint Venture 5 of 9
State: Minnesota 3 of 3
Country: United States 20 of 32
Year: 2012 2 of 4
Size (of disclosed) 6 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-24 Woodbury Commons

United States

Woodbury Commons, a community center totals 116,197 square feet of GLA, and its tenants include Outback Steakhouse, Applebee’s, Hancock Fabrics, Payless Shoe Source and Sally Beauty Supply.

Buy $10M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-29 Stone Creek Towne Center

Connecticut, United States

Stone Creek Towne Center, a power center totals approximately 142,800 square feet of leasable space and is anchored by Bed, Bath & Beyond, Old Navy and Best Buy.

Buy $36M