Siemens Gas Turbine Building Sold For $18M To Inland

Law360, New York (July 25, 2012, 5:10 PM EDT) -- A real estate investment trust of Inland Real Estate Acquisitions Inc. has paid $17.8 million for a Houston-area industrial building where a Siemens AG subsidiary services gas turbines, Inland announced Tuesday.

Inland Diversified Real Estate Trust Inc., through subsidiaries, financed the July 5 purchase with a $9.8 million mortgage and proceeds from its offering, according to a U.S. Securities and Exchange Commission filing

The 160,000-square-foot building in Deer Park is fully leased by Siemens Real Estate. It's used for training and to service large-scale gas turbine...
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