JLL Income Property Trust Subscribes $200M DST Portfolio

JLL Income Property Trust has fully subscribed its JLLX Diversified II, DST, a five-property, $200 million diversified portfolio structured as a Delaware Statutory Trust.

The DST is designed to “provide 1031 exchange investors the opportunity to defer taxes on gains from the sale of appreciated real estate,” according to JLL Income Property Trust, an institutionally managed daily NAV REIT with $7 billion in portfolio assets.

JLLX Diversified II, DST features five institutional-quality properties diversified by property type, geography and tenant profile:

  • Silverstone Marketplace, a 78,000-square-foot Class A, grocery-anchored shopping center in Scottsdale, Ariz., in metro Phoenix, leased to Sprout’s Farmers Market and other tenants.
  • Suwanee Distribution Center, a 559,000-square-foot bulk industrial distribution facility that’s in the Greater Atlanta market and is leased to Mitsubishi.
  • Three medical office properties leased to various creditworthy medical tenants—the South Reno Medical Center, Reno, Nev. (32,000 square feet); Duke Medical Plaza, Durham, N.C. (60,000 square feet); and Sugar Land Medical Plaza in metro Houston (37,000 square feet), which are leased to a select group of creditworthy medical tenants.

JLLX Diversified II, DST marks the firm’s largest 1031 exchange offering to date. Drew Dornbusch, head of JLL Exchange, said in a prepared statement that the platform experienced significant demand from wealth management firms and their property owner clients.

( This news/press release has not been altered by, apart from the headline, and has been obtained from a syndicated source:-  )