CHICAGO, IL--(Marketwired - Dec 8, 2016) - JLL Income Property Trust (
JLL Income Property Trust, an institutionally managed daily NAV REIT (
During the quarter, it closed on seven new acquisitions totaling over $350 million across three of the four primary property sectors adding two new apartment communities, two additional bulk distribution industrial properties and three new grocery-anchored retail properties. These newly acquired properties include:
"We are very pleased that we have been able to identify and close on these seven properties in the third quarter, further diversifying our portfolio across multiple property types and geographic markets. In a time of increased uncertainty, these acquisitions, combined with our focus on operational excellence, continue to drive shareholder value," said Allan Swaringen, President and CEO of JLL Income Property Trust.
JLL Income Property Trust continues to improve its operating metrics by retiring debt, refinancing mortgage loans and acquiring new properties. The company-wide leverage ratio stands at 39% with a weighted average cost of debt declining by 50 basis points from the prior year to 3.8% at quarter-end. By securing a $150 million line of credit, JLL Income Property Trust has enhanced its ability to pursue new acquisitions and provide additional liquidity for working capital.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms.
For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.
About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX)
Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing office, retail, industrial and apartment properties located primarily in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.
About LaSalle Investment Management
LaSalle Investment Management, Inc., a member of the JLL group and advisor to JLL Income Property Trust, is one of the world's leading global real estate investment managers with nearly 700 employees in 17 countries worldwide and approximately $60 billion of assets under management of private and public property equity and debt investments. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, endowments and private individuals from across the globe. For more information, visit www.lasalle.com.
Forward Looking Statements
This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact Information:
Contact
Matt Schuler
Telephone +1 312 897 4192
Email