Inland Private Capital Corp. sold the 377,332-square-foot Bank of America office building in the Hunt Valley, Md., submarket of Baltimore for $99.3 million.
An Inland Private Capital subsidiary that serves as asset manager conducted the sale of the property on behalf of one of its 1031 investment programs.
The company purchased the building in 2008 and managed it through the recession. The building provided a 7.06% average annualized return to investors and the sale resulted in a total return of 177.25%.
