Inland Real Estate Corporation Announces Acquisition of

Eastgate Crossing in Cincinnati MSA

OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Real Estate Corporation (NYSE: IRC) today announced
that its joint venture with Dutch pension fund administrator PGGM has acquired the Eastgate
Crossing shopping center, located in Union Township, Ohio, a thriving community less than 20 miles
east of downtown Cincinnati, for a purchase price of $21.1 million, excluding closing costs and
adjustments and subject to future earnout payments. The 174,700-square-foot property is
approximately 97% leased to Kroger, Marshalls, Ashley Furniture, Jo-Ann Fabrics, Dollar Tree, and a
complementary mix of national and local retailers.
Eastgate Crossing is a best-in-class, grocery and value-retail hybrid center, characterized by its
prime location in a dynamic regional trade area, excellent demographic profile and strong tenant
line-up of leading national retailers such as Marshalls and Kroger, the number one grocer in the
Cincinnati market, said Scott Carr, executive vice president and chief investment officer of Inland
Real Estate Corporation. The Eastgate Crossing acquisition expands our presence within the
Cincinnati MSA to a total of four high-quality shopping centers with total gross leasable area of
approximately 628,100 square feet (1.4 million square feet of retail space, including ground leases
and non-owned shadow anchors), which we can leverage to achieve leasing and operating
efficiencies.
Eastgate Crossing is strategically located in the heart of the Eastgate retail corridor, across from the
Eastgate Mall and close to the busy intersection of I-275 and State Route 32. The center benefits
from consumer traffic generated by the mall, and draws from a residential population of more than
46,000 with average household income over $76,700 within a three-mile radius, and nearly 103,000
people with average household income over $88,700 within five miles of the property.
The $21.1 million purchase price included a $14.6 million mortgage loan with a maturity date in May
2017, which the joint venture assumed at closing. The IRC-PGGM venture maintains an overall
leverage level of 40% to 50% on the portfolio, in accordance with the partnership agreement.
With the acquisition of Eastgate Crossing, we have added another Class-A asset to the IRC-PGGM
joint venture portfolio, said Mark Zalatoris, president and chief executive officer of Inland Real
Estate Corporation. As the final purchase for our joint venture with PGGM, Eastgate Crossing
exemplifies the high-quality assets acquired by the venture over the past few years, which have
enhanced the overall quality and diversification of our total portfolio. Including Eastgate Crossing,
the IRC-PGGM joint venture portfolio consists of 36 prime retail assets aggregating approximately
5.0 million square feet (owned) of gross leasable area.

About Inland Real Estate Corporation

Inland Real Estate Corporation is a self-advised and self-managed publicly traded real estate
investment trust (REIT) focused on owning and operating open-air neighborhood, community and
power shopping centers located in well-established markets in the Central and Southeastern United
States. As of March 31, 2015, the Company http://real-estate.laws.com/ owned interests in 134 fee
simple investment properties, including 33 owned through its unconsolidated joint ventures, with
aggregate leasable space of approximately 15 million square feet. Additional information on Inland
Real Estate Corporation is available at www.inlandrealestate.com. To connect with Inland Real
Estate hop over to these guys Corporation via LinkedIn, visit
http://www.linkedin.com/company/inland-real-estate-corporation, or via Twitter at
www.twitter.com/IRC_REIT.
Certain information in this supplemental information may constitute "forward-looking statements"
within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that do not reflect historical http://www.realtor.com/ facts and instead
reflect our management's intentions, beliefs, expectations, plans or predictions of the future.
Forward-looking statements can often be identified by words such as "seek," believe, expect,
anticipate, intend, estimate, may, will, should and could. Examples of forward-looking statements
include, but are not limited to, statements that describe or contain information related to matters
such as management's intent, belief or expectation with respect to our financial performance,
investment strategy or our portfolio, our ability to address debt maturities, our cash flows, our
growth prospects, the value of our assets, our joint venture commitments and the amount and timing
of anticipated future cash distributions. Forward-looking statements reflect the intent, belief or
expectations of our management based on their knowledge and understanding of our business and
industry and their assumptions, beliefs and expectations with respect to the market for commercial
real estate, the U.S. economy and other future conditions. Forward-looking statements are not
guarantees of future performance, and investors should not place undue reliance on them. Actual
results may differ materially from those expressed or forecasted in forward-looking statements due
to a variety of risks, uncertainties and other factors, including but not limited to the risks listed and
described under Item 1ARisk Factors in our Annual Report on Form 10-K for the year ended
December 31, 2014, as filed with the Securities and Exchange Commission (the SEC) on February
27, 2015, as they may be revised or supplemented by us in subsequent Reports on Form 10-Q and
other filings with the SEC. Except as otherwise required by applicable law, the Company disclaims
any obligation or undertaking to publicly release any updates or revisions to any forward-looking
statement in this release to reflect any change in the Company's expectations or any change in
events, conditions or circumstances on which any such statement is based.