Equity Capital to Accelerate Growth at
Opportune Start of Real Estate Recovery Cycle
CHICAGO, Nov. 7, 2024
/PRNewswire/ -- JLL Income Property Trust, an
institutionally-managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX;
ZIPIAX; ZIPIMX) with approximately $6.6
billion in portfolio equity and debt investments, announced
today that its Sponsor, Jones Lang LaSalle Incorporated (JLL), a
leading global commercial real estate and investment management
company, committed to make an additional co-investment of equity in
the company. JLL will acquire $100
million of Income Property Trust's common stock at the daily
NAV public offering price on the date of the investment. The
proceeds will be used to accelerate Income Property Trust's
investing activities at what is believed to be an opportune time in
the current real estate recovery cycle.
"JLL Income Property Trust, and its companion offering, JLL
Exchange, have established themselves as innovative, market leading
offerings for the high-net-worth, private client segments," said
Christian Ulbrich, CEO of JLL.
"Investing for growth in LaSalle's
flagship private wealth solutions aligns our interests with
investors that seek world-class alternative investment solutions as
real estate markets are poised for a strong recovery."
The $100 million commitment
increases the company's "dry powder" available to take advantage of
attractive investment opportunities. Together with this commitment,
Income Property Trust has generated significant investing capacity
from successful capital recycling through property sales, expansion
of its institutional Delaware Statutory Trust offerings through JLL
Exchange, and financial advisors returning to allocate to core real
estate. The company has a robust pipeline of new investments
targeted to close before year end that exceeds $150 million.
"JLL's additional $100 million
co-investment is consistent with one of LaSalle's key value propositions – striving to
think like owners and act like investors," commented Mark Gabbay, Global CEO of LaSalle Investment
Management, the Advisor to both JLL Income Property Trust and JLL
Exchange, "There is no greater demonstration of our investor
mindset than investing alongside our clients in these two industry
leading real estate offerings."
"When Income Property Trust launched as the first perpetual
daily valued NAV REIT in 2012, JLL invested significant
co-investment capital to create a seed portfolio that aligned our
interests with investors looking to allocate to a stable value and
income-oriented real estate solution," said Allan Swaringen, President and CEO of JLL Income
Property Trust. "JLL's increased commitment today is a
demonstration of our conviction in these flagship investment
solutions. After navigating two years of a challenging
investment environment triggered by unprecedented interest rate
hikes, there are signs that the coming months will be seen as a
favorable investment vintage for core real estate."
For more information on JLL Income Property Trust, please see
our website at www.jllipt.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 JLL
For over 200 years, JLL (NYSE: JLL), a
leading global commercial real estate and investment management
company, has helped clients buy, build, occupy, manage and invest
in a variety of commercial, industrial, hotel, residential and
retail properties. A Fortune 500® company with annual
revenue of $20.8 billion and
operations in over 80 countries around the world, our more than
110,000 employees bring the power of a global platform combined
with local expertise. Driven by our purpose to shape the future of
real estate for a better world, we help our clients, people and
communities SEE A BRIGHTER WAYSM. JLL is the brand name,
and a registered trademark, of Jones Lang LaSalle Incorporated. For
further information, visit jll.com.
About LaSalle Investment Management | Investing Today. For
Tomorrow.
LaSalle Investment Management is one of the
world's leading real estate investment managers. On a global basis,
LaSalle manages US$84.8 billion of assets in private and public
real estate equity and debt investments as of Q2 2024. 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,
and LinkedIn.
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.
Contacts:
Doug Allen
Dukas Linden Public Relations
Telephone: +1 646 722 6530
Email: JLLIPT@DLPR.com
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SOURCE JLL Income Property Trust
