August 25, 2014 — Chicago
Closed on two new acquisitions totaling approximately $85.6 million
Maintained portfolio-wide occupancy at 97%
Realized NAV appreciation of 0.8%
Achieved Q2 net returns: 1.61% on A shares and 1.74% on M shares
Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX) (NASDAQ:
ZIPTMX), an institutionally-managed, non-listed, daily valued perpetual life REIT, today announced the results
of its execution on a number of strategic initiatives in the second quarter of 2014, improving operational
performance and acquiring assets to better position its portfolio of diversified core properties for future growth
and enhancement of stockholder value.
During the quarter, it closed on two new acquisitions for a total of approximately $85.6 million. These newly acquired properties include:
Charlotte Distribution Center - The 347,000 square foot warehouse located in Charlotte, North Carolina is 100 percent leased to Michelin North America for over 14 years with 2.25 percent annual rent increases. The purchase price was approximately $25.5 million with an estimated capitalization rate based on purchase price of 6 percent.
Rancho Temecula Town Center – The 165,000 square foot grocery-anchored neighborhood shopping center is strategically located in Riverside County, the fastest growing county in California, situated within an expanding residential corridor between Orange County and San Diego. The center is anchored by Sprouts, Rite Aid, Bev Mo! and LA Fitness. The purchase price was $60 million with an estimated capitalization rate based on purchase price of 5.6 percent.
“We continue to grow and diversify our portfolio,” commented Allan Swaringen, President and CEO of Jones Lang LaSalle Income Property Trust. “With these two most recent acquisitions we have expanded our investments to include 29 different properties across our four primary property types of office, industrial, retail and apartments. Geographic diversification is also important to us as we now own investments across 22 different markets in the U.S. and Canada.”
Jones Lang LaSalle Income Property Trust is a non-listed, 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 Jones Lang LaSalle Income Property Trust, please visit our website at www.jllipt.com.
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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