Press Release
JLL Income Property Trust Announces Tax Treatment of 2017 Distributions
January 29, 2018
JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), today announced the income tax treatment of its 2017 dividends. For the tax year ended December 31, 2017, 100 percent of the distributions paid in 2017 will qualify as a non-dividend distribution or return of capital.
“We are pleased to once again report having paid out highly tax-efficient distributions to our stockholders,” commented Allan Swaringen, President & CEO of JLL Income Property Trust. “While our primary investment objectives remain durability of income distributions and preservation of capital, for our taxable investors, we also strive to provide them with a longer-term source of tax-advantaged income.”
The table below summarizes the income tax treatment of distributions paid to stockholders during the year ended December 31, 2017:
Class A
Record Date |
Payment Date |
Net Distribution |
Ordinary Income |
Capital Gain Income |
Return of Capital |
||||
|---|---|---|---|---|---|---|---|---|---|
12/29/2016 | 2/1/2017 | $0.09799 | $— | —% | $— | —% | $0.09799 | 100.00% | |
3/30/2017 | 5/1/2017 | 0.09699 | — | — | — | — | 0.09699 | 100 | |
6/29/2017 | 8/1/2017 | 0.09660 | — | — | — | — | 0.09660 | 100 | |
9/28/2017 | 11/1/2017 | 0.09623 | — | — | — | — | 0.09623 | 100 | |
Total | $0.38781 | $— | —% | $— | —% | $0.38781 | 100.00% |
(1) Distributions per share are net of dealer manager fees of 1.05% of net asset value.
Class M
Record Date |
Payment Date |
Net Distribution |
Ordinary Income |
Capital Gain Income |
Return of Capital |
||||
|---|---|---|---|---|---|---|---|---|---|
12/29/2016 | 2/1/2017 | $0.11694 | $— | —% | $— | —% | $0.11694 | 100.00% | |
3/30/2017 | 5/1/2017 | 0.11684 | — | — | — | — | 0.11684 | 100 | |
6/29/2017 | 8/1/2017 | 0.11677 | — | — | — | — | 0.11677 | 100 | |
9/28/2017 | 11/1/2017 | 0.11663 | — | — | — | — | 0.11663 | 100 | |
Total | $0.46718 | $— | —% | $— | —% | $0.46718 | 100.00% |
(2) Distributions per share are net of dealer manager fees of 0.30% of net asset value.
Class A-I
Record Date | Payment Date | Net Distribution | Ordinary Income | Capital Gain Income | Return of Capital |
||||
|---|---|---|---|---|---|---|---|---|---|
12/29/2016 | 2/1/2017 | $0.11753 | $— | —% | $— | —% | $0.11753 | 100.00% | |
3/30/2017 | 5/1/2017 | 0.11686 | — | — | — | — | 0.11686 | 100 | |
6/29/2017 | 8/1/2017 | 0.11607 | — | — | — | — | 0.11607 | 100 | |
9/28/2017 | 11/1/2017 | 0.11649 | — | — | — | — | 0.11649 | 100 | |
Total | $0.46695 | $— | —% | $— | —% | $0.46695 | 100.00% |
(3) Distributions per share are net of dealer manager fees of 0.30% of net asset value.
Class M-I
Record Date | Payment Date | Net Distribution | Ordinary Income | Capital Gain Income | Return of Capital |
||||
|---|---|---|---|---|---|---|---|---|---|
12/29/2016 | 2/1/2017 | $0.12372 | $— | —% | $— | —% | $0.12372 | 100.00% | |
3/30/2017 | 5/1/2017 | 0.12366 | — | — | — | — | 0.12366 | 100 | |
6/29/2017 | 8/1/2017 | 0.12365 | — | — | — | — | 0.12365 | 100 | |
9/28/2017 | 11/1/2017 | 0.12361 | — | — | — | — | 0.12361 | 100 | |
Total | $0.49464 | $— | —% | $— | —% | $0.49464 | 100.00% |
(4) Distributions per share are net of dealer manager fees of 0.05% of net asset value.
The dollar amount reported on each investor's respective 1099-DIV will depend on the total amount of distributions received throughout the year which can be affected by the share class held and the length of time the shares were owned. The distribution declared on November 17, 2017, payable on or around February 1, 2018, will be a 2018 tax event and is not reflected in the 2017 tax allocation.
This release is based on the preliminary results of work on the Company's tax filings and may be subject to adjustment. The income tax allocation for the distributions discussed above has been calculated using the best available information as of the date of the release. The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company's distributions. Tax treatment of distributions is dependent on a number of factors and there is no guarantee that future distributions will qualify as a nondividend distribution or return of capital.
JLL Income Property Trust is an institutionally managed, daily NAV 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.