The company bought the centers from Starwood Heller, an arm of real estate investment company Starwood Capital Group, Greenwich, Conn.
Separately, parent company The Inland Real Estate Group of Cos. has filed with the Securities and Exchange Commission to form the Inland Western Retail Real Estate Trust. If approved, this new company could start buying centers in the Western United States as early as July, Inland Chairman Joe Cosenza told SCT Newswire.
The Inland Real Estate Group has acquired $1.1 billion worth of centers since January.
The group's entities include The Inland Real Estate Trust, which has 170 centers in its portfolio and buys centers on the East Coast, and The Inland Real Estate Corp., which owns about 130 community centers in the Midwest.
Among the centers in the recent New Jersey purchase are the 162,533-square-foot 440 Commons Shopping Center, Jersey City; the 114,028-square-foot Brick (N.J.) Center Plaza; and the 77,446-square-foot Edgewater (N.J.) Towne Center.
“With this portfolio, we’ve added some of the top names in retail,” Cosenza said in a news release.