JLL Income Property Trust Announces Tax Treatment of 2021 Distributions
January 28, 2022 — Chicago
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $5.9 billion in portfolio assets, today announced the income tax treatment of its dividends paid in 2021. For the tax year ended December 31, 2021, approximately 99.5 percent of the distributions paid will qualify as non-dividend distribution or return of capital (box 3 on Form 1099) and approximately 0.5 percent of distributions paid will qualify as tax advantaged long-term capital gain (box 2a).
“Investment performance is the most important measure of our success and for 2021 we are pleased to report net of fee returns between 21.15% to 22.01%, depending upon the stockholders’ share class and the length of time the shares were held. We also strive to maximize the tax efficiency of our investments, and for the tenth year in a row, we delivered highly tax efficient distributions to our stockholders,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “Our primary investment objectives remain durability of dividend distributions and preservation of invested capital, however we also strive to be a source of longer-term tax-advantaged income for stockholders.”
The table below summarizes the income tax treatment of distributions paid to Class A stockholders during the year ended December 31, 2021:
Record Date |
Payment Date |
Net Distribution per share (1) |
Capital Gain Income (2) |
Return of Capital |
Unrecaptured Section 1250 Gains |
||||||||
3/24/2021 |
3/29/2021 |
$0.11326 |
$0.00057 |
0.5% |
$0.11269 |
99.5% |
$0.00057 |
||||||
6/24/2021 |
6/29/2021 |
0.11294 |
0.00056 |
0.5% |
0.11238 |
99.5% |
0.00056 |
||||||
9/24/2021 |
9/29/2021 |
0.11189 |
0.00056 |
0.5% |
0.11133 |
99.5% |
0.00056 |
||||||
12/23/2021 |
12/30/2021 |
0.11092 |
0.00055 |
0.5% |
0.11037 |
99.5% |
0.00055 |
||||||
Total |
$0.44901 |
$0.00225 |
0.5% |
$0.44676 |
99.5% |
$0.00225 |
|||||||
(1) Distributions per share are net of dealer manager fees of 0.85%.
(2) Distributions include 0.5% of Unrecaptured Section 1250 Gain.
The table below summarizes the income tax treatment of distributions paid to Class M stockholders during the year ended December 31, 2021:
Record Date |
Payment Date |
Net Distribution per share (1) |
Capital Gain Income (2) |
Return of Capital |
Unrecaptured Section 1250 Gains |
||||||||
3/24/2021 |
3/29/2021 |
$0.12715 |
$0.00064 |
0.5% |
$0.12651 |
99.5% |
$0.00064 |
||||||
6/24/2021 |
6/29/2021 |
0.12696 |
0.00063 |
0.5% |
0.12633 |
99.5% |
0.00063 |
||||||
9/24/2021 |
9/29/2021 |
0.12666 |
0.00063 |
0.5% |
0.12603 |
99.5% |
0.00063 |
||||||
12/23/2021 |
12/30/2021 |
0.12637 |
0.00063 |
0.5% |
0.12574 |
99.5% |
0.00063 |
||||||
Total |
$0.50714 |
$0.00254 |
0.5% |
$0.50460 |
99.5% |
$0.00254 |
|||||||
(1) Distributions per share are net of dealer manager fees of 0.30% of NAV.
(2) Distributions include 0.5% of Unrecaptured Section 1250 Gain.
The table below summarizes the income tax treatment of distributions paid to Class A-I stockholders during the year ended December 31, 2021:
Record Date |
Payment Date |
Net Distribution per share (1) |
Capital Gain Income (2) |
Return of Capital |
Unrecaptured Section 1250 Gains |
||||||||
3/24/2021 |
3/29/2021 |
$0.12726 |
$0.00064 |
0.5% |
$0.12662 |
99.5% |
$0.00064 |
||||||
6/24/2021 |
6/29/2021 |
0.12710 |
0.00064 |
0.5% |
0.12646 |
99.5% |
0.00064 |
||||||
9/24/2021 |
9/29/2021 |
0.12644 |
0.00063 |
0.5% |
0.12581 |
99.5% |
0.00063 |
||||||
12/23/2021 |
12/30/2021 |
0.12675 |
0.00063 |
0.5% |
0.12612 |
99.5% |
0.00063 |
||||||
Total |
$0.50755 |
$0.00254 |
0.5% |
$0.50501 |
99.5% |
$0.00254 |
|||||||
(1) Distributions per share are net of dealer manager fees of 0.30% of NAV.
(2) Distributions include 0.5% of Unrecaptured Section 1250 Gain.
The table below summarizes the income tax treatment of distributions paid to Class M-I stockholders during the year ended December 31, 2021:
Record Date |
Payment Date |
Net Distribution per share |
Capital Gain Income (1) |
Return of Capital |
Unrecaptured Section 1250 Gains |
||||||||
3/24/2021 |
3/29/2021 |
$0.13500 |
$0.00068 |
0.5% |
$0.13433 |
99.5% |
$0.00068 |
||||||
6/24/2021 |
6/29/2021 |
0.13500 |
0.00068 |
0.5% |
0.13433 |
99.5% |
0.00068 |
||||||
9/24/2021 |
9/29/2021 |
0.13500 |
0.00068 |
0.5% |
0.13433 |
99.5% |
0.00068 |
||||||
12/23/2021 |
12/30/2021 |
0.13500 |
0.00068 |
0.5% |
0.13433 |
99.5% |
0.00068 |
||||||
Total |
$0.54000 |
$0.00270 |
0.5% |
$0.53730 |
99.5% |
$0.00270 |
|||||||
(1) Distributions include 0.5% of Unrecaptured Section 1250 Gain.
The table below summarizes the income tax treatment of distributions paid to Class D stockholders during the year ended December 31, 2021:
Record Date |
Payment Date |
Net Distribution per share |
Capital Gain Income (1) |
Return of Capital |
Unrecaptured Section 1250 Gains |
||||||||
3/24/2021 |
3/29/2021 |
$0.13500 |
$0.00068 |
0.5% |
$0.13433 |
99.5% |
$0.00068 |
||||||
6/24/2021 |
6/29/2021 |
0.13500 |
0.00068 |
0.5% |
0.13433 |
99.5% |
0.00068 |
||||||
9/24/2021 |
9/29/2021 |
0.13500 |
0.00068 |
0.5% |
0.13433 |
99.5% |
0.00068 |
||||||
12/23/2021 |
12/30/2021 |
0.13500 |
0.00068 |
0.5% |
0.13433 |
99.5% |
0.00068 |
||||||
Total |
$0.54000 |
$0.00270 |
0.5% |
$0.53730 |
99.5% |
$0.00270 |
|||||||
- Distributions include 0.5% of Unrecaptured Section 1250 Gain.
The dollar amount reported on each investor's respective 1099-DIV will depend on the total amount of distributions received throughout the year which can be affected by the share class held and the length of time the shares were owned. This release is based on the preliminary results of work on the company's tax filings and may be subject to adjustment.
The income tax allocation for the distributions discussed above has been calculated using the best available information as of the date of the release. The company is releasing information at this time to aid those required to distribute Forms 1099 on the company's distributions. Tax treatment of distributions is dependent on a number of factors and there is no guarantee that future distributions will qualify as a non-dividend distribution, return of capital or long-term capital gain.
About JLL Income Property Trust, Inc., Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX)
JLL Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.
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 real estate investment managers with approximately $86.6 billion equity and debt investments under management (as of Q3 2023). LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open and closed-end funds, public securities and entity-level investments. LaSalle is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Inc. (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
Forward Looking Statements
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 and there can be no assurance that future dividends will be paid.