The portfolio consists of 320 homes and is managed by Amherst Residential, the fourth largest investor and manager of single-family rental homes in the US.
Amherst Residential is a vertically integrated platform with over $8 billion in AUM and a portfolio of over 25,000 single-family homes.
Average home value is roughly $300k – highlighting the diversification benefits of single-family rentals. The portfolio is broadly diversified across major markets in different states with homes spread across multiple locations within these markets.
LaSalle’s Research & Strategy team has identified single-family rentals as a “nearcore” property sector poised for accelerating institutional capital inflows along with an attractive risk-adjusted return profile. Given the superior long-term tenant demand growth outlook, our research projects long-term expected rent and NOI growth above all other institutional property type averages.
The portfolio has experienced a 70% renewal rate which compares favorably to the 50% turnover for traditional apartment renewal rates. This investment increases JLLIPT’s overall allocation to residential, a desired strategic property sector overweight.
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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