JLL Income Property Trust, an institutionally managed, daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $6.5 billion in portfolio equity and debt investments, announced that it has fully subscribed JLLX Diversified VII.
JLLX Diversified VII consisted of an institutional-quality, 199-unit multifamily residential community in Trumbull, Connecticut and a Class A, 211,000 square foot industrial warehouse facility in Chandler, Arizona.
“We are pleased to have fully subscribed JLLX Diversified VII,” said Drew Dornbusch, Head of JLL Exchange. “We continue to see strong demand from 1031 exchange investors and their advisors who are seeking estate planning solutions which can facilitate the transfer of generational wealth, while mitigating the significant tax consequences associated with the sale of appreciated investment real estate.”
“The residential and industrial sectors continue to show strong fundamentals, as rental growth trends remain resilient,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “JLLX Diversified VII provided investors access to these high-conviction property sectors in an investment solution designed to allow investors to maintain their real estate exposure while enjoying a range of tax and estate planning benefits.”
Since its inception in 2019, JLL Exchange has attracted more than $1.7 billion across 26 DST offerings from property owners seeking to maintain a meaningful allocation to real estate in a tax efficient manner. JLL Income Property Trust has completed 14 full cycle UPREIT transactions totaling $960 million to date.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.
