An IPC US REIT subsidiary, IPC Inc., has completed the sale of Bank One Plaza, a 231,000-square-foot office building located in Lexington, Ky.
Proceeds from the sale were $24 million after all costs related to the transaction.
The REIT’s property management group, IPC Real Estate Management LLC, will retain ongoing property management and leasing for the property.
The sale represents the REIT’s first disposition since its IPO. The property was purchased in October 2002, for $21.6 million.
IPC is a real estate investment trust located in Canada that invests exclusively in U.S. commercial real estate. The units of the REIT are listed on the Toronto Stock Exchange under the symbol “IUR.UN” for Canadian dollar quoted units and “IUR.U” for U.S. dollar quoted units.
***
What’s your opinion? Send your Letter to the Editor to opinion@inman.com.
You have {{data.cm.viewsLeft}} articles left this month.
This content is available to Inman Select subscribers.
Please select an option below.
Please register to access this content.
To continue viewing the content you love, please sign in or create a new account
You have used all of your free pageviews.
Please subscribe to access more content.
Access denied!