JLL Income Property Trust, an institutionally-managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $6.6 billion in portfolio equity and debt investments, announced today that it has fully subscribed JLLX Diversified IV, DST. The $120 million program 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 while also deferring taxes.
JLLX Diversified IV, DST consisted of an institutional-quality apartment community in Coppell, TX, and a Class A industrial distribution facility located in Taunton, MA leased to Williams-Sonoma Direct, Inc.
“We are pleased to have fully subscribed JLLX Diversified IV, DST,” said Drew Dornbusch, Head of JLL Exchange. “We continue to see strong demand from 1031 exchange investors and their advisors, many seeking an estate planning solution that can facilitate the transfer of generational wealth real estate to their heirs while mitigating the significant tax consequences associated with the sale of appreciated investment real estate.”
“Investors continue to gravitate to institutional-quality residential and industrial properties, as these property types lead other core real estate sectors in terms of rental growth rates to help fight the impact of inflation,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “Investment solutions like JLLX Diversified IV, DST have proved to be an attractive avenue for wealth management firms and their property owner clients who are seeking to reinvest proceeds from the sales of appreciated investment real estate in a tax efficient manner.”
Since its inception in 2020, JLL Exchange has attracted more than $1.3 billion across 22 DST offerings from property owners seeking to maintain a meaningful allocation to real estate in a tax efficient manner. JLL Income Property Trust has completed 13 full cycle UPREIT transactions totaling $900 million to date.