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  <p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES <br>
  SECURITIES AND EXCHANGE COMMISSION<br>
  </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">WASHINGTON, D.C.&#160; 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><br>
  </font>CURRENT REPORT</b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d)&nbsp;of the
  Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of
  earliest event reported):&#160; <b>May&nbsp;22, 2008 (May&nbsp;16, 2008)</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">INLAND AMERICAN REAL ESTATE TRUST,
  INC. <br>
  </font></b><font size="2" style="font-size:10.0pt;">(Exact Name of
  Registrant as Specified in its Charter)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
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    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Maryland</font></b><font size="2" style="font-size:10.0pt;"><br>
    (State or Other Jurisdiction of Incorporation)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">000-51609</font></b><font size="2" style="font-size:10.0pt;"><br>
    (Commission File Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">34-2019608</font></b><font size="2" style="font-size:10.0pt;"><br>
    (IRS Employer Identification No.)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2901 Butterfield Road</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;"><br>
  Oak Brook, Illinois 60523</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;"><br>
  </font></b><font size="2" style="font-size:10.0pt;">(Address of
  Principal Executive Offices)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><br>
  <b>(630) 218-8000</b></font><font size="2" style="font-size:10.0pt;"><br>
  (Registrant&#146;s Telephone Number, Including Area Code)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><br>
  <b>N/A</b></font><font size="2" style="font-size:10.0pt;"><br>
  (Former Name or Former Address, if Changed Since Last Report)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K
  filing is intended to simultaneously satisfy the filing obligation of the
  registrant under any of the following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
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    <td width="24" valign="top" style="padding:0in 0in 0in 0in;width:.25in;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings 2" style="font-size:10.0pt;">&#163;</font></p>
    </td>
    <td width="682" valign="top" style="padding:0in 0in 0in 0in;width:511.5pt;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Written communications pursuant to Rule&nbsp;425
    under the Securities Act (17 CFR 230.425)</font></p>
    </td>
   </tr>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="682" valign="top" style="padding:0in 0in 0in 0in;width:511.5pt;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
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    <td width="24" valign="top" style="padding:0in 0in 0in 0in;width:.25in;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings 2" style="font-size:10.0pt;">&#163;</font></p>
    </td>
    <td width="682" valign="top" style="padding:0in 0in 0in 0in;width:511.5pt;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Soliciting material pursuant to Rule&nbsp;14a-12
    under the Exchange Act (17 CFR 240.14a-12)</font></p>
    </td>
   </tr>
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    <td width="24" valign="top" style="padding:0in 0in 0in 0in;width:.25in;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="682" valign="top" style="padding:0in 0in 0in 0in;width:511.5pt;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="24" valign="top" style="padding:0in 0in 0in 0in;width:.25in;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings 2" style="font-size:10.0pt;">&#163;</font></p>
    </td>
    <td width="682" valign="top" style="padding:0in 0in 0in 0in;width:511.5pt;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under
    the Exchange Act (17 CFR 240.14d-2(b))</font></p>
    </td>
   </tr>
   <tr>
    <td width="24" valign="top" style="padding:0in 0in 0in 0in;width:.25in;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="682" valign="top" style="padding:0in 0in 0in 0in;width:511.5pt;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="24" valign="top" style="padding:0in 0in 0in 0in;width:.25in;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings 2" style="font-size:10.0pt;">&#163;</font></p>
    </td>
    <td width="682" valign="top" style="padding:0in 0in 0in 0in;width:511.5pt;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under
    the Exchange Act (17 CFR 240.13e-4(c))</font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
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  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
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  <div>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 8.01.&#160; Other
  Events.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Loan Participation to Charter One Bank.</font></i></b></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;16, 2008, Inland American Real
  Estate Trust,&nbsp;Inc., a Maryland corporation (referred to herein as &#147;we,&#148; &#147;us&#148;
  or the &#147;registrant&#148;), through IA Sacramento Rail, L.L.C., our wholly owned
  subsidiary (referred to herein as &#147;IA Sacramento&#148;), entered into a loan
  participation agreement with RBS Citizens N.A., d/b/a Charter One Bank
  (referred to herein as &#147;Charter One&#148;), with respect to our existing $125
  million loan to S. Thomas Enterprises of Sacramento, LLC, an unaffiliated third
  party borrower (referred to herein as the &#147;Loan&#148;).&#160; The Loan is secured by all of the membership
  interests in the borrower and a deed in trust against 228.36 acres of the
  former Union Pacific Rail Yard property in Sacramento, California, together
  with any equipment and any buildings or improvements now existing or later
  constructed on the property.&#160; Under the
  terms of the original Loan documents, the borrower is required to make monthly
  interest-only payments to IA Sacramento at rate equal to 7.9% per annum until
  the Loan is repaid in full.&#160; The Loan&#146;s
  maturity date is April&nbsp;30, 2009.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the participation agreement, IA
  Sacramento sold to Charter One a $50 million interest in its ownership rights
  in and to the indebtedness evidenced by the original Loan documents as well as
  the collateral securing the Loan.&#160;
  Charter One will receive interest on its participation interest at an
  annual rate equal to 6.75%, paid monthly, with the remaining 1.15% interest to
  be paid to IA Sacramento.&#160; Upon the
  occurrence of an event of default under the original Loan documents or on the
  maturity date, Charter One may elect to require IA Sacramento to repurchase its
  outstanding participation interest, plus any accrued interest and any amounts
  paid or advanced by Charter One, generally within thirty days.&#160; We have guaranteed the payment of the
  repurchase price.&#160; In addition, IA
  Sacramento will have the right to repurchase Charter One&#146;s participation
  interest at any time</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IA Sacramento paid Charter One a $125,000
  participation fee contemporaneous with the closing of the loan participation.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Josey Lane and 121 Joint Venture.</font></i></b></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;16, 2008, we, through a wholly owned subsidiary, Inland
  American Lewisville LP, L.L.C., entered into a joint venture with three
  unaffiliated parties, Weber Lewisville GP,&nbsp;Inc. (referred to herein as the
  &#147;Weber GP&#148;) and Weber LTC L.P. and DB/EB LTC, L.P. (referred to herein as the &#147;Weber
  limited partners&#148; and, together with the Weber GP, the &#147;Weber partners&#148;).&nbsp;
  The purpose of the joint venture is to acquire a parcel of land located in
  Lewisville, Texas and to develop a 287,967 square foot retail center on that
  land.&nbsp;&nbsp;The total cost of acquiring and developing the property is
  expected to be approximately $56.8 million. On May&nbsp;16, 2008, we
  contributed approximately $10.2 million to the venture and the Weber limited
  partners contributed approximately $1.1 million as well as the parcel of land
  on which the retail center will be developed.&nbsp; The remaining project costs
  will be funded through a $45.5 million loan from Compass Bank. This loan bears
  interest at a rate equal to 7% per annum and matures on May&nbsp;16, 2011, but
  may be extended by the venture for an additional two years.&#160; In the event that the actual development
  costs exceed the amount budgeted for development, we may, but are not required
  to, contribute additional funds in the form of a loan bearing interest at a
  rate equal to 20% per annum.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
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  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We will receive a preferred return, paid on a monthly basis, in an
  amount equal to 11% per annum on our total capital contributions, as decreased
  by all distributions paid to us. The preferred return will be paid out of a
  $2.2 million interest-bearing escrow account established by DB/EB LTC, L.P. for
  this purpose.&#160; If, after eighteen months,
  we determine that the project will not be completed by April&nbsp;3, 2010, we
  may require DB/EB LTC, L.P. to deposit an additional $1.1 million into this
  escrow to pay our preferred return; the president of the general partner of
  DB/EB LTC, L.P. has guaranteed the payment of this additional escrow amount.
  The Weber partners will not receive any distributions until our capital
  contribution has been returned.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Weber GP will manage the business of the venture.&nbsp; However,
  certain &#147;key decisions,&#148; including without limitation disposing of or financing
  the project, approving final budgets or admitting a new venture partner, will
  require the consent of a majority of the Weber limited partners and our
  subsidiary.&nbsp; As compensation for performing specific management services,
  the Weber partners will be entitled to receive a development fee equal to 4.5%
  of the hard construction costs, not to exceed $1.2 million. Our subsidiary will
  be entitled to a property management fee equal to 4.5% of gross revenues.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Acquisition of the Alcoa Exchange Shopping
  Center &#151; Phase I.</font></i></b></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;19, 2008, we, through Inland
  American Bryant Alcoa, L.L.C., our wholly owned subsidiary formed for this
  purpose (referred to herein as &#147;IA Bryant&#148;), acquired a fee simple interest in
  a 90,740 square foot retail center known as the Alcoa Exchange Shopping Center &#151;
  Phase I, located in Bryant, Arkansas.&#160;
  The Alcoa Exchange Shopping Center was constructed in 2006 and
  2007.&#160; We previously held a security
  interest in this property pursuant to loan agreement between us and Alcoa
  Exchange Associates, LLC, an unaffiliated third party (referred to herein as &#147;Alcoa&#148;),
  under which we had loaned Alcoa approximately $18.7 million.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IA Bryant purchased the Alcoa Exchange
  Shopping Center from Alcoa for purchase price of approximately $20.9
  million.&#160; At closing, IA Bryant paid
  approximately $1.8 million in cash, net of $0.4 million in closing prorations,
  and the outstanding balance of the loan from us to Alcoa was repaid in full.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt 2.5in;text-align:left;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">INLAND AMERICAN REAL ESTATE TRUST, INC.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><a name="Table"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></a></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.64%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="56%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:56.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Jack Potts</font></p>
    </td>
   </tr>
   <tr>
    <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.64%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
    </td>
    <td width="56%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:56.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jack Potts</font></p>
    </td>
   </tr>
   <tr>
    <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.64%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
    </td>
    <td width="56%" valign="top" style="padding:0in .7pt 0in .7pt;width:56.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Principal Accounting Officer</font></p>
    </td>
   </tr>
  </table>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:&#160; May&nbsp;22,
  2008</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
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metadata_filer: {"company-data": {"conformed-name": "Inland American Real Estate Trust, Inc.", "cik": "0001307748", "assigned-sic": "6798", "irs-number": "342019608", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51609", "film-number": "08855452"}, "business-address": {"street1": "2901 BUTTERFIELD ROAD", "city": "OAK BROOK", "state": "IL", "zip": "60523", "phone": "630-218-8000"}, "mail-address": {"street1": "2901 BUTTERFIELD ROAD", "city": "OAK BROOK", "state": "IL", "zip": "60523"}}
text: UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C.  20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the
  Securities Exchange Act of 1934
  Date of Report (Date of
  earliest event reported):
  May 22, 2008 (May 16, 2008)
  INLAND AMERICAN REAL ESTATE TRUST,
  INC.
  (Exact Name of
  Registrant as Specified in its Charter)
  Maryland
  (State or Other Jurisdiction of Incorporation)
  000-51609
  (Commission File Number)
  34-2019608
  (IRS Employer Identification No.)
  2901 Butterfield Road
  Oak Brook, Illinois 60523
  (Address of
  Principal Executive Offices)
  (630) 218-8000
  (Registrant's Telephone Number, Including Area Code)
  N/A
  (Former Name or Former Address, if Changed Since Last Report)
  Check the appropriate box below if the Form 8-K
  filing is intended to simultaneously satisfy the filing obligation of the
  registrant under any of the following provisions:
  £
  Written communications pursuant to Rule 425
    under the Securities Act (17 CFR 230.425)
  £
  Soliciting material pursuant to Rule 14a-12
    under the Exchange Act (17 CFR 240.14a-12)
  £
  Pre-commencement communications pursuant to Rule 14d-2(b) under
    the Exchange Act (17 CFR 240.14d-2(b))
  £
  Pre-commencement communications pursuant to Rule 13e-4(c) under
    the Exchange Act (17 CFR 240.13e-4(c))
  Item 8.01.  Other
  Events.
  Loan Participation to Charter One Bank.
  On May 16, 2008, Inland American Real
  Estate Trust, Inc., a Maryland corporation (referred to herein as "we," "us"
  or the "registrant"), through IA Sacramento Rail, L.L.C., our wholly owned
  subsidiary (referred to herein as "IA Sacramento"), entered into a loan
  participation agreement with RBS Citizens N.A., d/b/a Charter One Bank
  (referred to herein as "Charter One"), with respect to our existing $125
  million loan to S. Thomas Enterprises of Sacramento, LLC, an unaffiliated third
  party borrower (referred to herein as the "Loan").  The Loan is secured by all of the membership
  interests in the borrower and a deed in trust against 228.36 acres of the
  former Union Pacific Rail Yard property in Sacramento, California, together
  with any equipment and any buildings or improvements now existing or later
  constructed on the property.  Under the
  terms of the original Loan documents, the borrower is required to make monthly
  interest-only payments to IA Sacramento at rate equal to 7.9% per annum until
  the Loan is repaid in full.  The Loan's
  maturity date is April 30, 2009.
  Pursuant to the participation agreement, IA
  Sacramento sold to Charter One a $50 million interest in its ownership rights
  in and to the indebtedness evidenced by the original Loan documents as well as
  the collateral securing the Loan. 
  Charter One will receive interest on its participation interest at an
  annual rate equal to 6.75%, paid monthly, with the remaining 1.15% interest to
  be paid to IA Sacramento.  Upon the
  occurrence of an event of default under the original Loan documents or on the
  maturity date, Charter One may elect to require IA Sacramento to repurchase its
  outstanding participation interest, plus any accrued interest and any amounts
  paid or advanced by Charter One, generally within thirty days.  We have guaranteed the payment of the
  repurchase price.  In addition, IA
  Sacramento will have the right to repurchase Charter One's participation
  interest at any time
  IA Sacramento paid Charter One a $125,000
  participation fee contemporaneous with the closing of the loan participation.
  Josey Lane and 121 Joint Venture.
  On May 16, 2008, we, through a wholly owned subsidiary, Inland
  American Lewisville LP, L.L.C., entered into a joint venture with three
  unaffiliated parties, Weber Lewisville GP, Inc. (referred to herein as the
  "Weber GP") and Weber LTC L.P. and DB/EB LTC, L.P. (referred to herein as the "Weber
  limited partners" and, together with the Weber GP, the "Weber partners"). 
  The purpose of the joint venture is to acquire a parcel of land located in
  Lewisville, Texas and to develop a 287,967 square foot retail center on that
  land.  The total cost of acquiring and developing the property is
  expected to be approximately $56.8 million. On May 16, 2008, we
  contributed approximately $10.2 million to the venture and the Weber limited
  partners contributed approximately $1.1 million as well as the parcel of land
  on which the retail center will be developed.  The remaining project costs
  will be funded through a $45.5 million loan from Compass Bank. This loan bears
  interest at a rate equal to 7% per annum and matures on May 16, 2011, but
  may be extended by the venture for an additional two years.  In the event that the actual development
  costs exceed the amount budgeted for development, we may, but are not required
  to, contribute additional funds in the form of a loan bearing interest at a
  rate equal to 20% per annum.
  2
  We will receive a preferred return, paid on a monthly basis, in an
  amount equal to 11% per annum on our total capital contributions, as decreased
  by all distributions paid to us. The preferred return will be paid out of a
  $2.2 million interest-bearing escrow account established by DB/EB LTC, L.P. for
  this purpose.  If, after eighteen months,
  we determine that the project will not be completed by April 3, 2010, we
  may require DB/EB LTC, L.P. to deposit an additional $1.1 million into this
  escrow to pay our preferred return; the president of the general partner of
  DB/EB LTC, L.P. has guaranteed the payment of this additional escrow amount.
  The Weber partners will not receive any distributions until our capital
  contribution has been returned.
  The Weber GP will manage the business of the venture.  However,
  certain "key decisions," including without limitation disposing of or financing
  the project, approving final budgets or admitting a new venture partner, will
  require the consent of a majority of the Weber limited partners and our
  subsidiary.  As compensation for performing specific management services,
  the Weber partners will be entitled to receive a development fee equal to 4.5%
  of the hard construction costs, not to exceed $1.2 million. Our subsidiary will
  be entitled to a property management fee equal to 4.5% of gross revenues.
  Acquisition of the Alcoa Exchange Shopping
  Center — Phase I.
  On May 19, 2008, we, through Inland
  American Bryant Alcoa, L.L.C., our wholly owned subsidiary formed for this
  purpose (referred to herein as "IA Bryant"), acquired a fee simple interest in
  a 90,740 square foot retail center known as the Alcoa Exchange Shopping Center —
  Phase I, located in Bryant, Arkansas. 
  The Alcoa Exchange Shopping Center was constructed in 2006 and
  2007.  We previously held a security
  interest in this property pursuant to loan agreement between us and Alcoa
  Exchange Associates, LLC, an unaffiliated third party (referred to herein as "Alcoa"),
  under which we had loaned Alcoa approximately $18.7 million.
  IA Bryant purchased the Alcoa Exchange
  Shopping Center from Alcoa for purchase price of approximately $20.9
  million.  At closing, IA Bryant paid
  approximately $1.8 million in cash, net of $0.4 million in closing prorations,
  and the outstanding balance of the loan from us to Alcoa was repaid in full.
  3
  SIGNATURES
  Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.
  INLAND AMERICAN REAL ESTATE TRUST, INC.
  By:
  /s/ Jack Potts
  Name:
  Jack Potts
  Title:
  Principal Accounting Officer
  Date:  May 22,
  2008
  4