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JLL IPT Fully Subscribes $200M DST Offering
JLL Income Property Trust (JLL IPT) said Monday it had fully subscribed JLLX Diversified II, DST. The five-property, $200-million diversified portfolio was structured as a Delaware Statutory Trust designed to provide 1031 exchange investors the opportunity to defer taxes on gains from the sale of appreciated real estate.
JLLX Diversified II, DST featured five institutional-quality properties diversified by property type, geography and tenant profile. The portfolio included:
- Silverstone Marketplace – a class-A, grocery-anchored shopping center located in the Phoenix metropolitan area.
- Suwanee Distribution Center – a high-quality, bulk industrial distribution facility in the greater Atlanta market leased to Mitsubishi.
- Three medical office properties – the South Reno Medical Center, Duke Medical Plaza and Sugarland Medical Plaza.
“The successful syndication of this $200-million offering is a proof point that the program is resonating with 1031 exchange investors and their financial advisors,” said Allan Swaringen, president and CEO of JLL IPT.
Pictured: Suwanee Distribution Center.
- ◦Sale/Acquisition
- ◦Financing
