JLL IPT Fully Subscribes $90M Life Sciences Offering

JLL Income Property Trust announced that it has fully subscribed JLLX Ardenwood, DST. The $90 million, two-property life sciences portfolio, located in Fremont, California, 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.

“Life science properties in the Bay Area are among the strongest performing in the medical/healthcare sector, with demand significantly outpacing supply. With a weighted average lease term of more than six years, the Ardenwood properties provide our investors a durable stream of income from Class A real estate leased to strong, creditworthy tenants,” said Allan Swaringen, President and CEO of JLL Income Property Trust.

“Wealth management firms and their property owner clients who participated in the JLLX Ardenwood, DST offering recognized the high-quality real estate, the benefits of our institutional management, and the investor-friendly structure of our JLL Exchange platform.”