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Volume 3 - Number 23 | December 6, 2005
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TOP STORY: SBC, Inland Affiliate Close $338M Sale/Leaseback Deal
By Michelle Napoli
Hoffman Estates, IL—An affiliate of Inland American Real Estate Trust Inc. closed on a 1.69 million-sf sale-leaseback with SBC Communications Inc. just prior to the tenant closing its acquisition of AT&T Corp. and changing its name to AT&T Inc. At $338 million, the acquisition is the largest deal transacted by an entity of Oakbrook, IL-based Inland.
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Eastern Consolidated Launches 1031 Group
By Michelle Napoli
New York City—Common wisdom has it that 1031 exchanges are better known and more frequently used on the West Coast than the East, but don’t try telling that to New York City-based real estate investment brokerage firm Eastern Consolidated Properties Inc. The company has found itself involved in so many tax-deferred exchanges that it has established an internal 1031 exchange group.
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