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JLLIPT Sponsor JLL Announces $100M Equity Investment
JLL Income Property Trust announced today that its Sponsor, JLL, has 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 investing activities.
“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. “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,” said Mark Gabbay, Global CEO of LaSalle Investment Management, the Advisor to both JLL Income Property Trust and JLL Exchange.
