CHICAGO, April 26, 2017 /PRNewswire/ --
- Achieved Q1 total net return of 1.8 percent on Class M
shares
- For the quarter, realized share appreciation of 0.8 percent and
an income return of 1.0 percent on Class M shares
- Maintained portfolio-wide occupancy at 95 percent
- Reduced overall leverage ratio to 34 percent, down 100 basis
points from the prior quarter
- Paid dividends for twenty-one consecutive quarters, with an
average annualized dividend growth rate of 5.6 percent over that
time period
JLL Income Property Trust, an institutionally managed daily NAV
REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) today announced the
results of its execution on a number of strategic initiatives in
the first quarter of 2017, which helped drive operational and
investment performance while positioning the company for future
growth and enhanced stockholder value.
JLL Income Property Trust ended the first quarter with
$2.3 billion in total assets made up
of a geographically diversified portfolio of 69 core properties
spanning the retail, apartment, industrial and office property
sectors. The portfolio is highly leased with an overall occupancy
of 95 percent, and an average remaining lease term of 6.3 years,
supporting JLL Income Property Trust's investment objectives of
generating attractive income for distribution to stockholders. As a
testament to the quality of the portfolio, leasing activity
remained robust, with a total of 36,000 square feet of new leases
and renewals completed during the quarter.
"Investment performance is the most important measure of
success, and our sustained focus on active asset management,
portfolio diversification and leverage reduction has driven our
positive first quarter results. Real estate fundamentals remain
strong into the second quarter, as higher occupancies continue to
support rent growth across our portfolio," said Allan Swaringen, President and CEO of JLL Income
Property Trust.
JLL Income Property Trust is an institutionally managed, daily
NAV REIT that gives investors access to 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.
For more information on JLL Income Property Trust, please visit
our website at www.jllipt.com.
About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX;
ZIPIAX; ZIPIMX), Jones Lang LaSalle Income Property Trust, Inc. is
a daily NAV REIT that owns and manages a diversified portfolio of
high quality, income-producing office, retail, industrial and
apartment properties located primarily 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, Inc., a member of the JLL group and advisor to JLL
Income Property Trust, is one of the world's leading global real
estate investment managers with nearly 700 employees in 17
countries worldwide and approximately $60
billion of assets under management of private and public
property equity and debt investments. LaSalle's diverse client base includes public
and private pension funds, insurance companies, governments,
endowments and private individuals from across the globe. For more
information, visit www.lasalle.com.
Forward Looking Statements/Past
Performance
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, 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. In addition, past performance does not guarantee future
results.
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SOURCE JLL Income Property Trust