If you wish to sell you Inland American shares, REITCO and The REIT Secondary Exchange usually can find you a buyer above $5.75 depending on the number of units you own (based on December 2013 pricing). If you want liquidity, call us for a quote at 602-721-4730 or use our online form by clicking on the “Request A Quote” button.
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Inland American owners must be very careful! Several new tenders for Inland American will be announced very soon. I expect there will be a full tender at $5.00. Inland American will recommend that you do not sell at tender prices. I agree:
Tenders for non-traded REITs are almost always presented at prices below market. The REIT management typically recommends that you reject the tender offers. You must read the Securities Exchange Commission’s warning on mini-tenders www.sec.gov/investor/pubs/minitend.htm. Because there is no easy way to sell your position, investors may not be aware of other opportunities to liquidate their units. We usually will be able to find a buyer willing to offer more than the tender price.
During the fourth quarter of 2011, when there were tender offers for various Corporate Property Associate REITs, we were paying 50% more than the tenders. When Inland Western was tendered at $2.00, we had buyer near $4.00. Call or e-mail us for a quote on your positions.