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Chicago & Midwest  + Downtown  + Finance  | 

JLL IPT Teams with Amherst on $500M Single-Family Rental Venture

JLL Income Property Trust (JLL IPT) has expanded its existing relationship with Amherst to acquire up to $500 million in single-family rental homes in a phased venture over the next two years.  

Chicago-based JLL IPT will have 95% ownership in the venture, and Austin-based Amherst will have a 5% stake. The daily NAV REIT previously acquired a 47% interest in a 4,000-home portfolio in which Amherst is also a partner and the operator. 

The initial closing of this expanded program includes approximately 360 recently acquired and fully renovated single-family rental homes diversified across 10 states and 16 geographically distinct markets, valued at approximately $120 million.  

“Single-family rental homes are one of our highest conviction property sectors given numerous tailwinds that should provide resilient demand and the potential for attractive rent growth within this carefully selected portfolio,” said Allan Swaringen, president & CEO of JLL IPT.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing