March 29, 2018 — Chicago
JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), today announced that Pioneer Tower, a Class A office asset in its portfolio located in Portland, has recently earned LEED Silver® certification. The 300,000-square-foot property also recently earned the U.S. Environmental Protection Agency’s (EPA’s) ENERGY STAR® certification, which signifies that the building performs in the top 25 percent of similar facilities nationwide for energy efficiency and meets strict energy efficiency performance levels set by the EPA. To meet the energy reduction prerequisites for LEED certification, properties must benchmark energy consumption against similar buildings across the nation. JLL Income Property Trust completed an energy audit on Pioneer Tower, which identified several energy conservation measures to successfully meet the energy prerequisite.
“We are delighted that Pioneer Tower was able to meet the stringent criteria required to achieve both LEED and ENERGY STAR distinctions,” commented Allan Swaringen, President & CEO of JLL Income Property Trust. “As proactive asset managers focused on value-creation for our shareholders, we believe that implementing Environmental, Social and Governance principles across our portfolio has a direct impact on our investment performance.”
JLL Income Property Trust acquired Pioneer Tower in July, 2016, and has been working toward the goal of earning LEED Silver certification for the building since early 2017.
With contributions from the local property team, a sustainability consultancy and in-house energy and sustainability experts, the following project highlights were achieved at Pioneer Tower:
- 100 percent of durable goods diverted from landfills
- High-performance green cleaning program that minimizes the use of chemicals, while also providing increased air quality
- Replacing any lamps with higher mercury content with either LED or low-mercury content bulbs
- Conversion of older restroom fixtures to achieve maximum indoor water efficiency
- Engaging and educating tenants in green measures such as increasing alternative transportation methods, and also increased recycling diversion rates
“LaSalle Investment Management and JLL are proud to demonstrate their collective commitment to ESG best practices through Pioneer Tower’s first LEED and Energy Star certifications,” noted Eric Duchon, Global Head of Sustainability with LaSalle. “Much like the approach at Pioneer Tower, we will continue to seek out cost-effective methods to achieve certifications across JLL Income Property Trust’s portfolio through initiatives such as our LEED Volume Program, which achieves certification at half of the cost of historical LEED projects.”
Pioneer Tower is a 17-story, multi-tenant, Class A office building in the heart of Portland’s central business district. Set atop Portland’s leading retail destination, Pioneer Tower offers a premium office experience within an unparalleled mixed-use urban environment and direct access to Pioneer Place, Portland’s number one shopping destination, while also offering convenient access to its Transit Mall, the city’s nexus of light rail public transportation systems. Pioneer Tower is 95% leased to a diverse roster of professional service tenants whose average tenure of occupancy is over fourteen years.
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.
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 $79 billion equity and debt investments under management (as of Q4 2022). 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.
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.
You should read the prospectus carefully for a description of the risks associated with an investment in JLL Income Property Trust. Some of these risks include but are not limited to the following:
This literature contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” and other similar terms, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks, uncertainties, and contingencies include, but are not limited to, the following: our ability to effectively raise capital in our offering; uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our investment strategy; and other risk factors as outlined in our prospectus and periodic reports filed with the Securities and Exchange Commission. Although JLLIPT believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. JLLIPT undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in our expectations.
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