JLL Income Property Trust, a daily net asset value, non-listed real estate investment trust with approximately $6.5 billion in portfolio equity and debt investments, has fully subscribed JLLX Diversified VII. The $105 million Delaware statutory trust program consisted of a 199-unit multifamily residential community in Trumbull, Conn., and a Class A, 211,000-square-foot industrial warehouse facility in Chandler, Ariz.
JLLX Diversified VII was structured as two DSTs launched in August 2024 – JLLX Woodside Trumbull Apartments, DST; and JLLX Chandler Distribution Center, DST – each with a nearly $52.31 million capital raise and designed to provide 1031 exchange investors the opportunity to reinvest proceeds from the sale of appreciated real estate while also deferring taxes.
“We are pleased to have fully subscribed JLLX Diversified VII,” said Drew Dornbusch, head of JLL Exchange. “We continue to see strong demand from 1031 exchange investors and their advisers who are seeking estate planning solutions, which can facilitate the transfer of generational wealth while mitigating the significant tax consequences associated with the sale of appreciated investment real estate.”
Since its inception in 2019, JLL Exchange has attracted more than $1.7 billion across 26 DST offerings from property owners seeking to maintain a meaningful allocation to real estate in a tax efficient manner.
“The residential and industrial sectors continue to show strong fundamentals, as rental growth trends remain resilient,” said Allan Swaringen, president and chief executive officer of JLL Income Property Trust. “JLLX Diversified VII provided investors access to these high-conviction property sectors in an investment solution designed to allow investors to maintain their real estate exposure while enjoying a range of tax and estate planning benefits.”
JLL Income Property Trust has completed 14 full cycle UPREIT transactions totaling $960 million to date.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors 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.
Earlier this month, the REIT acquired Naperville Medical Center for a purchase price of approximately $16.3 million. The medical center is an outpatient building in the Chicago suburb of Naperville, Ill. And in March 2025, it announced the acquisition of the Richmond Distribution Center, a Class A industrial building located in Richmond, Va., for a purchase price of approximately $40.7 million.
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