Quarterly Update
Q3 2022

Offering Summary

$ 7.2 B

Total Asset Value

$ 4.7 B

Net Asset Value (NAV)

136

Properties

19.1 M

Commercial Sq Ft

10,278

Residential Units

96 %

Occupancy1

35 %

Company Leverage Ratio

6 YRS

Average Remaining Lease Term2

Returns Summary3

Class M-IShares

ZIPIMX
Class MShares

ZIPTMX
Class A-IShares

ZIPIAX
Class AShares

ZIPTAX
Class M-I OP UNITSShares

Class A-I OP UNITSShares

Class A OP UNITSShares

Q3 RETURN (NET) 1.28% 1.21% 1.21% 1.09% 1.28% 1.35% 1.22%
YTD RETURN (NET) 13.00% 12.85% 12.86% 12.42% 12.97% 1.35% 1.22%
1 YEAR RETURN (NET) 21.65% 21.51% 21.42% 20.92% 21.64%
3-YEAR ANNUAL RETURN (NET) 11.75% 11.50% 11.51% 10.98%
5-YEAR ANNUAL RETURN (NET) 9.97% 9.71% 9.70% 9.19%
SINCE INCEPTION ANNUAL RETURN (NET)4 9.20% 8.35% 8.93% 7.76% 19.18% 1.35% 1.22%

Standard Deviation

Class M-IShares

ZIPIMX
Class MShares

ZIPTMX
Class A-IShares

ZIPIAX
Class AShares

ZIPTAX
Class M-I OP UNITSShares

Class A-I OP UNITSShares

Class A OP UNITSShares

STANDARD DEVIATION SINCE INCEPTION5 3.32% 3.15% 3.32% 3.18% 5.42%

NAV

Class M-IShares

ZIPIMX
Class MShares

ZIPTMX
Class A-IShares

ZIPIAX
Class AShares

ZIPTAX
Class M-I OP UNITSShares

Class A-I OP UNITSShares

Class A OP UNITSShares

NAV PER SHARE 7 (on 09/30/22) $14.92 $14.93 $14.94 $14.90 $14.87 $14.89 $14.89

Tracking Symbols: Shares of JLL Income Property Trust are not listed on any securities exchange and they have limited liquidity.

  1. Stabilized portfolio occupancy excludes newly constructed properties during lease up.
  2. Average remaining lease term excludes our apartment properties as these leases are generally one year in term as of 09/30/22.
  3. Past performance is no guarantee of future results. Performance returns reflect reinvested distributions and changes in the NAV per share. Returns are net of all management fees (e.g. fixed and performance advisory fees), company expenses (e.g. administration, organization, legal and accounting fees, and transaction expense), dealer manager fees and include capital gains and other earnings. See share class specific and management fees on the back page. The returns have been prepared using unaudited data and valuations of the underlying investments in the Company’s portfolio, which are done by our independent valuation advisor. Valuations based upon unaudited or estimated reports from the underlying investments may be subject to later adjustments or revisions. Current performance may be higher or lower than the performance quoted herein. The investment return and principal value of an investment will fluctuate so that an investment may be worth more or less than its original cost. No representation or warranty is made as to the efficacy of any particular strategy or the actual returns that may be achieved.
  4. Class M and A shares went effective with the SEC on October 1, 2012 at an initial offering price of $10.00 per share. Class M-I and A-I shares inception date was July 1, 2014 at an offering price of $10.34 and $10.34, respectively. Class M-I, A-I and A Operating Partnership Units (“Class M-I, A-I and A OP Units”) are not publicly available and are issued through JLLIPT Holdings, LP, a subsidiary of JLLIPT. Class M-I OP Units inception was December 1, 2020 at an offering price of $11.71 per unit. Class A and A-I OP Units inception was July 1, 2022 at an offering price of $14.82. Since inception returns are annualized.
  5. Standard deviation reflects annualized standard deviation since October 1, 2012 for Class M and A shares, since July 1, 2014 for M-I and A-I shares, since December 1, 2020 for Class M-I OP Units shares and since July 1, 2022 for Class A-I and A OP Units shares. Standard Deviation measures the variation of returns around the average return from the investment over a given period of time. The higher the standard deviation, the greater the variance/volatility of the investment returns.
  6. Total assets at fair value are reported at pro-rata share for properties with joint ownership. Distribution payments are not guaranteed and may be modified at the Company’s discretion. The amount of distributions JLLIPT may make is uncertain. JLLIPT may pay distributions from sources other than operational cash flow, including, without limitation, the sale of assets, borrowings, return of capital, or offering proceeds. The advisor may defer reimbursements and fees otherwise due, in order to pay these distributions, and when these amounts are paid back to the advisor, that will result in a decrease in cash flow from operations. To date, cumulative distributions have been funded by cash flow from operations.
  7. NAV is reported based on the fair value of assets less liabilities. Our daily NAV can be found on our website at www.jllipt.com and our toll-free line, 855.652.0277.

Portfolio Diversification

By Property Type

*01% Other

Portfolio data represents fair value of properties as of 06/30/2022.

By Geographic Region
Geographic Region Map

Portfolio data represents fair value of properties as of 06/30/2022.