CHICAGO, Aug. 16, 2018 /PRNewswire/ --
- Achieved Q2 total net return of 1.55 percent on Class M shares
with share appreciation of 0.5 percent and an income return of 1.0
percent
- Paid dividends for twenty-six consecutive quarters, with an
average annualized growth rate of 5.1 percent over that time
period
- Acquired Villas at Legacy, a 328-unit apartment community
located in Plano, Texas
- Maintained an overall leverage ratio of 38 percent
- Closed $45 million loan on 180
North Jefferson apartment at a fixed interest rate of 3.89%
- Reported total revenues of $84
million for the first six months of the year, an increase of
5% and 40% over the same periods in 2017 and 2016,
respectively
JLL Income Property Trust, an institutionally managed daily NAV
REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) today announced the
results of its execution on a number of strategic initiatives in
the second quarter of 2018, which helped drive operational and
investment performance while positioning the company for future
growth and enhanced stockholder value.
JLL Income Property Trust ended the first quarter with
$2.6 billion in total assets made up
of a geographically diversified portfolio of 69 core properties
spanning the apartment, industrial, office and retail property
sectors. The portfolio is highly leased with an overall occupancy
of 93 percent, and an average remaining lease term of six years,
supporting JLL Income Property Trust's investment objectives of
generating attractive income for distribution to stockholders.
In the second quarter, JLL Income Property Trust acquired Villas
at Legacy, an amenity-rich, garden-style 328 unit apartment
community located in Plano, Texas.
The acquisition of this property supports our investment strategy
given its desirable location with an affluent tenant base, highly
rated schools and strong market fundamentals and demographics.
"Our portfolio performance remained strong in the second
quarter, and looking ahead to Q3, we have already closed on the
acquisition of two additional apartment communities," said
Allan Swaringen, President and CEO
of JLL Income Property Trust. "As our program advances through its
sixth year, we are most proud of our investment performance. Our
5-year net of fees return of 7.3% for Class M Shares along with a
below 2% standard deviation is a competitive performance track
record for a daily-NAV real estate program. With a favorable
macroeconomic climate that continues to support strong underlying
property fundamentals, we remain focused on driving long-term
performance for stockholders."
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 valued
perpetual life real estate investment trust (REIT) that owns and
manages a diversified portfolio of high quality, income-producing
apartment, industrial, office and retail 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 and Future
Results
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, research, market
analysis, 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. Past performance is not indicative
of future results.
Contact: Matt Schuler
Telephone: +1 312 897 4192
Email: matt.schuler@lasalle.com
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SOURCE JLL Income Property Trust