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JLL Daily NAV REIT Lowers Fees
JLL Income Property Trust, an institutionally-managed daily NAV REIT, has reduced fees on two of its publicly available share classes. Dealer manager fees on its Class A shares were reduced by 19%, while fees on its Class M-I shares were eliminated completely. The reduction in expenses effectively increases future dividend payments by 5.9%.
The REIT has also amended certain organizational documents allowing it to adopt an UPREIT structure, commonly used to facilitate tax-free contributions of properties in exchange for partnership interests which may allow sellers to defer taxation of gains.
With the tax reform enacted last December having resolved the uncertainty of using 1031 like-kind exchanges, “we felt it timely to be sure JLL Income Property Trust’s structure enabled us to provide these potential benefits to our stockholders in terms of both new sources of deal flow and potential investors,” said CEO Allan Swaringen.
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