Press Release

JLL Income Property Trust Acquires Grocery-Anchored Shopping Center in Scottsdale, Arizona

August 1, 2016

JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), today announced the acquisition of Silverstone Marketplace, a newly-constructed grocery-anchored neighborhood shopping center in the affluent Phoenix suburb of Scottsdale, Arizona. Anchored by the flagship location of national healthy grocery store Sprouts Farmers Market, the 78,000 square-foot property is 100 percent leased to a variety of national and regional tenants with a weighted average remaining lease term of 10 years. The purchase price was approximately $47 million.

Phoenix has one of the strongest economies in the nation, ranking sixth out of 147 metros in LaSalle’s US Regional Economic Index report, with a diverse economy and population that is expected to grow at twice the national rate through 2020. The Scottsdale submarket is one of the most affluent areas in the country with median household incomes among the highest in the nation and with home values over double the Phoenix average.

Silverstone Marketplace is prominently located at the southeast corner of Scottsdale Road and Pinnacle Peak Road, two of the main north / south thoroughfares in North Scottsdale. The property is also in close proximity to a number of affluent master-planned communities as well as Scottsdale Airpark, the second-largest employment center in Arizona.

“This acquisition reflects our strategy to increase our portfolio’s allocation to high-quality, grocery-anchored centers in top nationally ranked retail markets. Scottsdale’s high discretionary income coupled with a growing population, and with Sprouts’ flagship store as our anchor, the property successfully caters to the demographic found in North Scottsdale,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “This is our seventh acquisition in the grocery-anchored retail format,” added Swaringen, “all in targeted retail locations rated in the top quartile of LaSalle’s proprietary ranking of more than 40,000 grocery-anchored shopping centers. LaSalle’s ranking grades shopping centers based upon their surrounding population density, household income, and trade area competition. Highly rated centers like Silverstone Marketplace trigger a strong buy signal for us.”

JLL Income Property Trust is a daily valued perpetual life real estate investment trust (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.