Chicago (September 12, 2023) – JLL Income Property Trust, an institutionally-managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $7 billion in portfolio assets, announced today that it has fully subscribed JLLX Ardenwood, DST. The $90 million, two-property life sciences portfolio, located in Fremont, California, was structured as a Delaware Statutory Trust designed to provide 1031 exchange investors the opportunity to reinvest proceeds from the sale of appreciated real estate, while also deferring taxes, maintaining their allocation to real estate and enjoying the opportunity to realize long-term appreciation in a tax efficient manner.
“We are pleased to have fully subscribed JLLX Ardenwood, DST,” said Drew Dornbusch, Head of JLL Exchange. “We continue to see strong demand from 1031 exchange investors and their financial advisors, as demonstrated by the successful syndication of this $90 million offering.”
“Life science properties in the Bay Area are among the strongest performing in the medical/healthcare sector, with demand significantly outpacing supply. With a weighted average lease term of more than six years, the Ardenwood properties provide our investors a durable stream of income from Class A real estate leased to strong, creditworthy tenants,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “Wealth management firms and their property owner clients who participated in the JLLX Ardenwood, DST offering recognized the high-quality real estate, the benefits of our institutional management, and the investor-friendly structure of our JLL Exchange platform.”
Since launching the program in 2020, JLL Exchange has provided investors with more than $1 billion of like kind exchange interests through 19 DST offerings to property owners seeking to reinvest proceeds from their sale of appreciated investment real estate in a tax efficient manner. JLL Income Property Trust has completed 9 full cycle 721 UPREIT transactions totaling more than $680 million to date.
For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.
About JLL Exchange
The JLL Exchange program offers private placements through the sale of interests in Delaware Statutory Trusts (DSTs) holding real properties. For more information, visit www.jllexchange.com.
About JLL Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),
JLL Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.
About LaSalle Investment Management
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $78 billion of assets in private and public real estate property and debt investments as of June 30, 2023. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit www.lasalle.com.
Valuations, Forward Looking Statements and Future Results
This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.
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