The Inland Private Capital Corporation Story
Inland Private Capital Corporation (IPC) is recognized as the industry leader in securitized 1031 exchange transactions. A subsidiary of Inland Real Estate Investment Corporation (Inland Investments) and a part of The Inland Real Estate Group of Companies, Inc. (Inland), IPC offers a variety of private placement real estate investment solutions to accredited investors as an alternative to traditional stocks and bonds. Many of its offerings are designed to qualify as replacement property for an IRS Section 1031 exchange through multiple-owner investment structure.
Inland has been delivering value to investors for more than 50 years. Established in 1968 by four Chicago Public School teachers, Inland is involved in every aspect of commercial real estate. Inland’s four founding principals – Dan Goodwin, Bob Baum, Joe Cosenza and Bob Parks – began investing in real estate part-time to earn extra cash while working full-time as school teachers. In the early 1970’s, the group took a leap of faith and started full-time careers in real estate. Their first investors were other teachers, family members and friends. This personal connection and responsibility to investors created a culture of putting investors first, which endures today across Inland’s business entities.
Evolution of IPC
Inland’s early investments consisted of limited partnerships including private, single asset and tax-sheltered partnerships. Partnering with broker dealers to raise capital, Inland offered its first public investment in 1985, which eventually consisted of mortgage, monthly income, growth and land funds.
The Tax Reform Act of 1986 permanently changed tax-sheltered limited partnerships. While many sponsors walked away from these investments and lost investor capital, Inland chose to make a commitment to its investors by strategically using 1031 exchanges and moving investors into new assets where they could continue to build equity. In fact, the 1031 exchange investment vehicles used were Walmart stores and, at one time, Inland was Walmart’s largest landlord.
Surpassing 58,000 total investors, Inland realized the need for a separate organization to meet the growing demand for 1031 exchange transactions and created IPC, formerly Inland Real Estate Exchange Corporation, in 2001.