The asset is 100% leased to Glendale Adventist Medical Center on a net basis with nearly 11.5 years of remaining lease term and 2.5% annual rent escalations.
Leased by Glendale Adventist since 2003, this outpatient therapy and rehab center serves the Glendale Adventist Medical Center Hospital that hosts 515 beds and is located just one mile from the Property.
This location is critical for Adventist as it is located less than one mile from the Adventist Health Glendale Hospital. The hospital sends patients directly to this facility for long-term recovery after surgery.
Located in the Glendale neighborhood of Los Angeles, the Property is surrounded by affluent and dense demographics, in a market experiencing strong Medical Office Building (MOB) fundamentals. The market has sub 7% medical office vacancy, positive medical office net absorption in 2021 and limited new supply coming given the lack of available land.
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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