JLL Income Property Trust (NASDAQ: ZIPTAX, ZIPTMX, ZIPIAX, ZIPIMX), an institutionally-managed daily NAV REIT with a portfolio of more than $7 billion, announced today that it had attracted over $1 billion via JLL Exchange (“JLLX”) its 1031 similar kind real estate exchange programme.
The JLLX platform offers a sophisticated estate planning and tax deferral tool. It uses both a traditional exchange (1031) as well as a possible 721 UPREIT. JLLX provides institutional-quality properties through its unique Delaware Statutory Trust (DST) structure. Owners of appreciated investment property can perform a 1031 by reinvesting the proceeds of the sale of the real estate in order to acquire interest in the DST. DST properties can be acquired again after a holding period in exchange for JLL Income Property Trust UPREIT interests through a 721 swap.
JLL Exchange allows investors to reinvest the proceeds of their sale of investment real estate into a perpetual NAV REIT that is institutionally managed and broadly diversified. They can also defer taxes, maintain their real estate allocation, and enjoy a variety of estate planning advantages. JLL Income Property Trust gains by attracting long-term, strategically aligned investors via the 1031 Exchange market.
JLLX, since its launch in 2020, has offered investors more than $1 Billion in DSTs through 18 different 1031 exchanges, ranging from DSTs for single properties to portfolios of diversified multi-property DSTs. JLL Income Property Trust also completed six full-cycle 721 UpREIT transactions, totaling almost $470 million. In a full cycle UPREIT real estate is traded on a deferred tax basis for partnership interest in JLL Income Property Trust. This allows owners of the property exchanged to benefit from diversification, income, and long-term appreciation.
Allan Swaringen is the President and CEO of JLL Income Property Trust. He said, “We are very pleased with the market’s continued, strong response to the JLLX Platform.” Financial advisors are recognizing the potential estate and tax planning benefits of the JLLX offering and see it as a means to provide more holistic planning for their clients who own high-net worth properties.
JLLX, the Head of JLL Exchange, said that by offering institutional DST solutions with higher quality, as well as competitive fees and institutional management JLLX had established itself to be a preferred 1031 solution for ultra-high-net-worth and high-net-worth investors.
Visit our website at http://www.jllipt.com for more information about JLL Income Property Trust.