JLL Income Property Trust, an institutionally managed daily NAV REIT with approximately $6.6 billion in portfolio equity and debt investments, has fully subscribed JLLX Diversified V, DST.
The $100 million program was structured as a Delaware Statutory Trust designed to provide 1031 exchange investors the opportunity to reinvest proceeds from the sale of appreciated real estate while also deferring taxes.
JLLX Diversified V, DST consisted of a 192-unit institutional-quality apartment community in North Andover, Mass., and two class A industrial distribution facilities totaling 400,000 square feet located in Elgin, Ill.
“We are pleased to have fully subscribed JLLX Diversified V, DST,” said Drew Dornbusch, head of JLL Exchange. “This is a testament to the strong demand we continue to see from 1031 exchange investors and their advisers who are seeking estate planning solutions which can facilitate the transfer of generational wealth while mitigating the sign