IMAGINE CHARTER SCHOOLS PORTFOLIO:

Inland Public Properties Development, Inc. (IPPD) completed the acquisition of its first portfolio of charter schools in February of 2010. The transaction was in the form of a sale lease-back with Imagine Schools, Inc., one the nation’s largest operators of charter schools. The portfolio consists of seven elementary and/or middle schools located in four states, plus the District of Columbia. The schools are leased back on a long-term, triple net basis to Imagine who will continue to operate the schools. Combined, the school facilities total over 325,000 square feet and educate more than 3,000 students.

As a result of this partnership, IPPD obtained a geographically diverse portfolio of school facilities that are well-established in their communities. Imagine also enhanced its ability to focus on a mission of providing the best education to its students while expanding its national presence through efficient capital management. IPPD looks forward to additional sale lease-back transactions and new school development as Imagine Schools, and the charter school movement as a whole, continue to grow and provide school choice to parents across the country.

The successful completion of the Imagine Schools Portfolio demonstrates IPPD’s continued commitment to team with public and private agencies to provide capital for social infrastructure real estate.

Charter Schools

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