JLL Income Property Trust (JLL IPT) announced on Monday that it had fully subscribed JLLX Diversified II, a Delaware Statutory Trust designed to provide 1031 exchange investors the opportunity to defer taxes on gains from the sale of appreciated real estate. The five-property portfolio was valued at $200 million and featured institutional-quality properties diversified by property type, geography and tenant profile.
The portfolio included Silverstone Marketplace – a class-A grocery-anchored shopping center located in Phoenix; Suwanee Distribution Center – a high quality bulk industrial distribution facility leased to Mitsubishi in Atlanta; and three medical office properties – South Reno Medical Center, Duke Medical Plaza and Sugarland Medical Plaza.
“The successful syndication of this $200 million offering is evidence that our program resonates with 1031 exchange investors as well as their financial advisors,” said Allan Swaringen, President & CEO of JLL IPT.
Pictured: Suwanee Distribution Center
