JLL Income Property Trust (JLL IPT) announced Tuesday that it had attracted more than $1 billion through its 1031 like-kind real estate exchange program, JLL Exchange (JLLX). Launched in 2020, the program has provided 18 distinct 1031 exchange offerings ranging from single-property Delaware Statutory Trusts (DST) to diversified, multi-property portfolios.
Through JLLX’s DST structure, owners of appreciated investment real estate can conduct a 1031 exchange by reinvesting proceeds from the sale of their property to acquire interests in the DST. After a required holding period is completed, DST properties may be reacquired for interests in JLL IPT’s UPREIT structure via a 721 exchange.
Allan Swaringen – President and CEO of JLL IPT – commented on how financial advisors have taken notice: “They recognize the potential tax and estate planning benefits offered by our offerings and view them as an opportunity to provide comprehensive financial planning for their high net worth clients who own property.”
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