JLL Income Property Trust, an institutionally-managed daily NAV REIT with approximately $6.6 billion in portfolio equity and debt investments, has announced that its sponsor, Jones Lang LaSalle (JLL) has committed to make an additional co-investment of equity in the company.
JLL will acquire $100 million of Income Property Trust’s common stock at the daily net asset value public offering price on the date of the investment. The proceeds will be used to accelerate Income Property Trust’s investing activities at what is believed to be an opportune time in the current real estate recovery cycle.
“JLL Income Property Trust, and its companion offering, JLL Exchange, have established themselves as innovative, market-leading offerings for the high-net-worth private client segments,” said Christian Ulbrich, CEO of JLL. “Investing for growth in LaSalle’s flagship private wealth solutions aligns our interests with investors that seek world-class alternative investmen