{"id":1004660037,"date":"2023-05-02T03:31:51","date_gmt":"2023-05-02T11:31:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004660037"},"modified":"2023-05-02T03:33:11","modified_gmt":"2023-05-02T11:33:11","slug":"jll-income-property-trust-subscribes-200m-dst-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-income-property-trust-subscribes-200m-dst-portfolio\/","title":{"rendered":"JLL Income Property Trust Subscribes $200M DST Portfolio"},"content":{"rendered":"<div id=\"attachment_1004660104\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Duke-Medical-Plaza.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004660104\" data-attachment-id=\"1004660104\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jll-income-property-trust-subscribes-200m-dst-portfolio\/duke-medical-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Duke-Medical-Plaza.jpg\" data-orig-size=\"803,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Duke Medical Plaza\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Duke Medical Plaza. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Duke-Medical-Plaza.jpg?w=803\" class=\"wp-image-1004660104 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Duke-Medical-Plaza.jpg?w=300\" alt=\"Duke Medical Plaza\" width=\"300\" height=\"232\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Duke-Medical-Plaza.jpg 803w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Duke-Medical-Plaza.jpg?resize=300,232 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Duke-Medical-Plaza.jpg?resize=768,593 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004660104\" class=\"wp-caption-text\">Duke Medical Plaza. <em>Image courtesy of JLL<\/em><\/p><\/div>\n<p><strong>JLL Income Property Trust<\/strong> has fully subscribed its JLLX Diversified II, DST, a five-property, $200 million diversified portfolio structured as a Delaware Statutory Trust.<\/p>\n<p>The DST is designed to \u201cprovide 1031 exchange investors the opportunity to defer taxes on gains from the sale of appreciated real estate,\u201d according to JLL Income Property Trust, an institutionally managed daily NAV REIT with $7 billion in portfolio assets.<\/p>\n<p>JLLX Diversified II, DST features five institutional-quality properties diversified by property type, geography and tenant profile:<\/p>\n<ul>\n<li>Silverstone Marketplace, a 78,000-square-foot Class A, grocery-anchored shopping center in Scottsdale, Ariz., in metro Phoenix, leased to <strong>Sprout\u2019s Farmers Market<\/strong> and other tenants.<\/li>\n<li>Suwanee Distribution Center, a 559,000-square-foot bulk industrial distribution facility that\u2019s in the Greater Atlanta market and is leased to <strong>Mitsubishi<\/strong>.<\/li>\n<li>Three medical office properties leased to various creditworthy medical tenants\u2014the South Reno Medical Center, Reno, Nev. (32,000 square feet); Duke Medical Plaza, Durham, N.C. (60,000 square feet); and Sugar Land Medical Plaza in metro Houston (37,000 square feet), which are leased to a select group of creditworthy medical tenants.<\/li>\n<\/ul>\n<p>JLLX Diversified II, DST marks the firm\u2019s largest 1031 exchange offering to date. Drew Dornbusch, head of JLL Exchange, said in a prepared statement that the platform experienced significant demand from wealth management firms and their property owner clients.<\/p>\n<hr \/>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/understanding-foreclosure-1031s\/\">Understanding Foreclosure 1031s<\/a><\/p>\n<hr \/>\n<p>According to Allan Swaringen, president &amp; CEO of JLL Income Property Trust, the JLL Exchange platform was designed as a sophisticated tax and estate planning tool for high-net-worth property owners. He added in prepared remarks that the successful syndication of the $200 million offering proves that the program is resonating with 1031 exchange investors and their financial advisors. Swaringen also observed that despite a slowdown in the traditional syndicated DST marketplace, demand continues to be strong.<\/p>\n<p>Since launching the program in 2020, JLLX reportedly has attracted about $900 million across 16 DST offerings from property owners seeking to defer taxes on appreciated investment real estate.<\/p>\n<h2>Widespread activity<\/h2>\n<p>Just last month, JLL Income Property Trust <a href=\"https:\/\/www.commercialsearch.com\/news\/jll-income-property-trust-pays-82m-for-louisville-logistics-center\/\">acquired Louisville Logistics Center<\/a>, a 1 million-square-foot, newly completed Class A industrial property in the South Louisville, Ky., submarket, for about $82 million.<\/p>\n<p>Around the same time last year, JLL Income Property Trust purchased the 458,000-square-foot Class A <a href=\"https:\/\/www.commercialsearch.com\/news\/jll-income-property-trust-pays-54m-for-atlanta-asset\/\">Northeast Atlanta Distribution Center<\/a>, in Jefferson, Ga. The trust paid about $54 million in the off-market transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The five-property collection is intended to assist 1031 exchange investors. <\/p>\n","protected":false},"author":882,"featured_media":1004660104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,21754,23891,21742,21749],"tags":[45095],"class_list":["post-1004660037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-medical-office","category-national","category-latest","category-retail","tag-jll-income-property-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JLL Income Property Trust Subscribes $200M DST Portfolio - 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Image courtesy of JLL"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/jll-income-property-trust-subscribes-200m-dst-portfolio\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"JLL Income Property Trust Subscribes $200M DST Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Duke-Medical-Plaza.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004660037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004660037"}],"version-history":[{"count":6,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004660037\/revisions"}],"predecessor-version":[{"id":1004660125,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004660037\/revisions\/1004660125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004660104"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004660037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004660037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004660037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}