Filed pursuant to 424(b)(3)
Registration #333-118860
SUPPLEMENT NO. 11
DATED MARCH 11, 2005
TO THE PROSPECTUS DATED DECEMBER 21, 2004
OF INLAND WESTERN RETAIL REAL ESTATE TRUST, INC.
We are providing this Supplement No. 11 to you in order to supplement our prospectus. This supplement updates information in the "Real Property Investments" and "Plan of Distribution" sections of our prospectus. ThisSupplement No. 11 supplements, modifies or supersedes certain information contained in our prospectus, Supplement No. 10 dated March 7, 2005, Supplement No. 9 dated February 28, 2005, Supplement No. 8 dated February 18, 2005, Supplement No. 7 dated February 16, 2005, Supplement No. 6 dated February 8, 2005, Supplement No. 5 dated February 1, 2005, Supplement No. 4 dated January 25, 2005, Supplement No. 3 dated January 11, 2005, Supplement No. 2 dated January 4, 2005, Supplement No. 1 dated December 29, 2004, and our prospectus dated December 21, 2004, and must be read in conjunction with our prospectus.
Real Property Investments
The discussion under this section, which starts on page 110 of our prospectus, is modified and supplemented by the following information regarding properties we have acquired or intend to acquire.
The following table provides information regarding the properties we have acquired since March 7, 2005, the date of our last supplement. We have purchased these properties from unaffiliated third parties. We purchased these properties with our own funds, unless noted otherwise. However, we expect to place financing on the properties at a later date.
Year | Date | Approx. Acquisition Costs, Including | Gross Leasable Area | Physical Occupancy as of 03/01/05 | No. of | ||
Property | Built | Acquired | expenses ($) * | (Sq. Ft.) | (%) | Tenants | Major Tenants ** |
Stateline Station | 2003/2004 | 03/08/05 | 32,000,000 | 141,686 | 93 | 17 | Linens 'N Things |
High Ridge Crossing | 2004 | 03/08/05 | 13,200,000 | 76,857 | 100 | 7 | Shop 'N Save Warehouse (Super Valu) |
* | Our acquisition costs may increase by additional costs, which have not yet been finally determined. We expect any additional costs to be insignificant. |
** | Major tenants include tenants leasing more than 10% of the gross leasable area of the individual property. |
Plan of Distribution
The following new subsection is inserted at the end of this section on page 360 of our prospectus.
Update
The following table updates shares sold in our offerings as of March 8, 2005:
Gross | Commission and fees | Net | ||||||
Shares | proceeds ($) | ($) (1) | proceeds ($) | |||||
From our advisor | 20,000 | 200,000 | - | 200,000 | ||||
Our offering dated September 15, 2003: | 249,973,479 | 2,499,654,805 | 262,046,663 | 2,237,608,142 | ||||
Our second offering dated December 21, 2004 | 9,349,213 | 93,492,135 | 12,109,791 | 81,382,344 | ||||
Shares sold pursuant to our distribution reinvestment program | 5,090,125 | 48,356,188 | - | 48,356,188 | ||||
Shares repurchased pursuant to our share repurchase program | (152,203) | (1,407,877) | - | (1,407,877) | ||||
264,280,614 | 2,640,295,251 | 274,156,454 | 2,366,138,797 | |||||
(1) Inland Securities Corporation serves as dealer manager of this offering and is entitled to receive selling commissions and certain other fees, as discussed further in our prospectus.