JLL Income Property Trust, an institutionally-managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $7 billion in portfolio assets, announced the full cycle return of three Delaware Statutory Trust (DST) programs from its JLL Exchange platform, which offers replacement properties to 1031 exchange investors. JLL Income Property Trust acquired four properties from the three DSTs through 721 UPREIT acquisitions. In a 721 UPREIT transaction, real estate can be exchanged on a tax-deferred basis for partnership interests in a REIT, offering the potential for owners of the exchanged property to achieve greater diversification, current income and appreciation.
The JLL Exchange (“JLLX”) program is a sophisticated tax and estate planning tool that utilizes both a traditional 1031 exchange along with a potential 721 UPREIT exchange. The JLLX platform provides institutional quality properties through the DST structure, where owners of appreciated investment real estate can conduct a 1031 exchange by using proceeds from the sale of their real estate to acquire interests in the DST. After a required holding period, JLL Income Property Trust has an option to acquire the DST property, completing the full cycle transaction via a 721 UPREIT.
The JLLX program offers investors a pathway to move from a single property holding into a highly diversified, institutionally managed REIT while deferring taxes, maintaining their real estate allocation and enjoying a wide range of estate planning benefits. JLL Income Property Trust benefits by attracting strategically aligned long-term investors through the 1031 exchange market.
With the UPREIT acquisition of the four properties, investors’ DST interests were exchanged into fractional, tax-deferred partnership interests in JLL Income Property Trust’s diversified, core real estate portfolio. The four properties were acquired from three distinct DST investments
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