DOWNERS GROVE, Ill.--(BUSINESS WIRE)-- InvenTrust Properties Corp. (“InvenTrust”, “IVT”, or the “Company”) today announced the acquisition of Lakeside Winter Park and Lakeside Crossing (“Lakeside”), two centers in Winter Park, Florida totaling 76,000 square feet for $63.5 million.

“Through the acquisition of Lakeside, we are further enhancing our presence in Florida,” said Christopher Covey, Senior Vice President of Transactions for InvenTrust. “Developed in 2014, Lakeside offers a foothold in our target market of Orlando, with a desirable location in the high-population and high-income Winter Park area. Lakeside has a solid base of national and regional tenants, including its anchor tenant Trader Joe’s – one of only two Trader Joe’s locations in the Orlando area. This acquisition delivers additional grocer diversification within our Orlando portfolio.”

The Lakeside centers are located across the street from each other on Orlando Avenue, the main retail corridor in Winter Park, and five miles directly north of Orlando. The property features a number of restaurant and service-oriented retail tenants such as Shake Shack, Bulla Gastropub, OrangeTheory Fitness, Pearle Vision and Guidewell Emergency.

About InvenTrust Properties Corp.

InvenTrust Properties Corp. is a retail company with a focus on acquiring grocery-anchored open-air centers in key growth markets with favorable demographics. This disciplined acquisition strategy, along with our innovative and collaborative property management approach, ensures the success of both our tenants and business partners and drives net operating income growth for the Company. InvenTrust became a self-managed REIT in 2014 and a Global Real Estate Sustainability Benchmark (“GRESB”) member in 2018. As of December 31, 2018, the company is an owner and manager of 71 retail properties, representing -12.1 million square feet of retail space.

Forward-Looking Statements Disclaimer

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical, including statements regarding management’s intentions, beliefs, expectations, plans or predictions of the future and are typically identified by words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations. For further discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see our filings with the securities and Exchange Commission (“SEC”), including the Risk Factors included in our most recent Annual Report on Form 10-K, as updated by any subsequent Quarterly Report on Form 10-Q, in each case as filed with the SEC. InvenTrust intends that such forward-looking statements be subject to the safe harbors created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, except as may be required by applicable law. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

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Dan Lombardo, InvenTrust Properties Corp.
630-570-0605 or dan.lombardo@inventrustproperties.com

Source: InvenTrust Properties Corp.