JLL Income Property Trust – a daily net asset value, non-traded real estate investment trust with approximately $6.6 billion in portfolio equity and debt investments – has fully subscribed JLLX Grand Prairie, DST. The $65 million program was structured as a Delaware statutory trust designed to provide 1031 exchange investors the opportunity to reinvest proceeds from the sale of appreciated real estate while also deferring taxes.
JLLX Grand Prairie, DST consisted of two Class A industrial distribution facilities located in Grand Prairie, Texas, a submarket of the Dallas-Fort Worth metropolitan area. Both properties are 100% leased to and occupied by Fruit of the Earth Inc., a provider of skin care, sun care, and health care products.
“We are pleased to have fully subscribed JLLX Grand Prairie, DST,” said Drew Dornbusch, head of JLL Exchange, or JLLX – JLL Income Property Trust’s like-kind real estate exchange program. “The continued demand we see from 1031 exchange investors and their advisers is a testament to the success of the program to provide solutions that can facilitate the transfer of generational wealth, while mitigating the significant tax consequences associated with the sale of appreciated investment real estate.”
In similar JLLX news, the JLL Income Property Trust fully subscribed its $95 million JLLX Diversified III, DST in June 2024. It consisted of two healthcare-oriented properties in Florham Park, N.J., and Durham, N.C.
“JLLX Grand Prairie, DST provided 1031 exchange investors access to the industrial property sector – one of the strongest performing property types over the past several years due to the continued acceleration of e-commerce, supply change configuration, and strong consumer demand,” said Allan Swaringen, president and chief executive officer of JLL Income Property Trust.
“We’re proud that institutional-quality investment solutions like ours have proven to be an attractive avenue for wealth management firms and their clients who are seeking to reinvest proceeds from the sales of appreciated investment real estate while deferring taxes,” added Swaringen.
Investment banking firm Robert A. Stanger & Co., Inc. recently reiterated its Stanger JLL Income Property Trust rating as overweight. The REIT’s portfolio is concentrated in residential and industrial properties, balanced out by retail, healthcare and other property types, as well as credit investments.
“[JLL Income Property Trust] has one of the strongest risk-reward profiles of any of the NAV REITs we cover, with moderately conservative leverage, a shareholder-friendly performance fee structure, and NAV derivation policies that favor new investors,” stated David J. Inauen, head of research at Stanger.
Since its inception in 2019, JLLX has attracted more than $1.5 billion across 24 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 13 full cycle UPREIT transactions totaling $900 million to date.
JLL Income Property Trust is an institutionally managed real estate investment trust 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.
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