Press Release

JLL Income Property Trust Declares 28th Consecutive Quarterly Dividend

November 13, 2018

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), announced that on November 8, 2018 its Board of Directors approved a gross dividend for the fourth quarter of 2018 of $0.13 per share. JLL Income Property Trust has declared twenty-eight consecutive quarterly dividends to its stockholders beginning with the first quarter 2012.

The dividend is payable on or around February 1, 2019 to stockholders of record as of December 28, 2018. On an annualized basis, this gross dividend is equivalent to $0.52 per share and represents a yield of approximately 4.3 percent on a NAV per share of $12.14 as of November 9, 2018. All stockholders will receive $0.13 per share less applicable share class-specific fees and the annualized yield will differ based on the share class.

“We are pleased to declare our 28th consecutive dividend, all covered in the aggregate by cash flow from operations, and providing an attractive level of current income for distribution to our stockholders,” said Allan Swaringen, President and CEO of JLL Income Property Trust.

A third quarter dividend of $0.13 per share, less applicable share class-specific fees, was paid according to the table below on November 1, 2018 to stockholders of record as of September 27, 2018.

M-I Share1A-I Share2M Share3A Share4
Q3 Quarterly Gross Dividend per Share$0.13000$0.13000$0.13000$0.13000
Less: Dealer Manager Fee per Share-($0.00845)($0.00851)($0.02327)
Q3 Quarterly Net Dividend per Share$0.13000$0.12155$0.12149$0.10673
NAV per Share as of September 28, 2018$11.93$11.93$11.92$11.90
Annualized Net Dividend Yield Based on
NAV as of September 28, 2018
4.4%4.1%4.1%3.6%

JLL Income Property Trust is an institutionally managed, 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.

  1. A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class A-I stockholders daily and reduces the quarterly dividend paid.
  2. A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class M stockholders daily and reduces the quarterly dividend paid.
  3. A dealer manager fee equal to 1/365th of 0.85% of NAV is allocated to Class A stockholders daily and reduces the quarterly dividend paid.