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Jenner & Block recently represented three real estate management companies with respect to their tax-free merger into Inland Retail Real Estate Trust, Inc. (IRRETI), a publicly owned Real Estate Investment Trust. Partner Arnold S. Harrison, Co-Chair of the Tax Practice and the Tax Controversy Practice at the Firm, was the primary attorney on the transaction, which closed on December 29. Also assisting in the transaction were Partner Donald E. Batterson and Associates Geoffrey M. Davis, David S. Drachler and Iordan A. Peev.
IRRETI acquired Inland Southern Management Corp., Inland Mid-Atlantic Management Corp. and Inland Southeast Property Management Corp., which have provided property management services to IRRETI along with Inland Retail Real Estate Advisory Services, Inc., which has provided business management and advisory services to IRRETI in a transaction valued at $197 million.
IRRETI is a publicly registered, non-listed real estate investment trust which owns, manages, leases, develops and redevelops primarily neighborhood and community retail shopping centers and free-standing retail buildings and is an affiliate of The Inland Real Estate Group of Companies. IRRETI owns 277 retail properties located primarily in the southeastern United States containing approximately 33.5 million square feet of space.