News and Views
Press Release

Blank Rome Advises DRA Advisors on $2.3 Billion Acquisition of Inland Real Estate Corporation

Blank Rome LLP is representing DRA Advisors LLC (“DRA”) in its definitive agreement that was announced on December 15, 2015 to acquire Inland Real Estate Corporation (“IRC”) in a transaction valued at approximately $2.3 billion, including the assumption of existing debt. IRC is a publicly traded real estate investment trust focused on owning and operating open-air neighborhood, community, and power shopping centers located in well-established markets primarily in theMidwestern United States. Upon completion of the merger, which is expected to occur in the first half of 2016, IRC will become a privately held real estate investment trust owned by funds managed by DRA. 

The deal was led by Blank Rome partner Martin Luskin and included partners Emanuel Adler, Alan Lieblich, Joseph Gulant, Daniel Ivler, and Samuel Walker; of counsel Rustin Paul; associates Beth Bernstein and Natalie Wilmore; and additional attorneys and professionals from across the Firm. Blank Rome has represented DRA for the past decade on a number of large-scale deals, including major acquisitions of publicly traded REITS, industrial portfolios, apartment complexes, and shopping centers. 

DRA Advisors LLC is a registered SEC investment advisor with $6.8 billion of assets under management, headquartered in New York with offices in San Francisco and Miami. DRA has been in existence for 29 years with investors that include public and corporate pension funds, endowments, foundations and financial institutions. As of September 30, 2015, DRA has invested in properties valued in excess of $23.5 billion. Additional information on DRA Advisors LLC is available at www.draadvisors.com.