Press Release

JLL Income Property Trust Fully Subscribes $200 Million Diversified DST Portfolio

May 1, 2023 — Chicago

JLL Income Property Trust Announces Q4 2022 and Full-Year Earnings Call

JLL Income Property Trust, an institutionally-managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $7 billion in portfolio assets, announced today that it has fully subscribed JLLX Diversified II, DST. The five-property, $200 million diversified portfolio was structured as a Delaware Statutory Trust designed to provide 1031 exchange investors the opportunity to defer taxes on gains from the sale of appreciated real estate.

JLLX Diversified II, DST featured five institutional-quality properties diversified by property type, geography and tenant profile. The portfolio included:

“JLLX Diversified II, DST was our largest 1031 exchange offering to date,” said Drew Dornbusch, Head of JLL Exchange. “We experienced significant demand from wealth management firms and their property owner clients who recognized the high quality nature of the real estate, the diversification benefits of the portfolio, and the innovation of our JLL Exchange offering.”

“From its inception, our JLL Exchange platform was designed as a sophisticated tax and estate planning tool for high-net-worth property owners,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “The successful syndication of this $200 million offering is a proof point that the program is resonating with 1031 exchange investors and their financial advisors. Despite a slowdown in the traditional syndicated DST marketplace, we see continued strong demand for our innovative real estate exchange solution.”

Since launching the program in 2020, JLLX has attracted approximately $900 million across 16 DST offerings from property owners seeking to defer taxes on appreciated investment real estate. JLL Income Property Trust has completed 6 full cycle UPREIT transactions totaling nearly $470 million to date.

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

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.