Income Property Trust, an institutionally-managed daily NAV REIT with nearly $7 billion in portfolio equity and debt investments, announced that it has fully subscribed JLLX Diversified III, DST. The $95 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, maintaining allocation to real estate and the opportunity to realize long-term appreciation in a tax efficient manner.
JLLX Diversified III, DST consisted of two healthcare-oriented properties – an outpatient medical property in Florham Park, N.J., leased to Summit Health Management; and a class-A industrial property in Durham, N.C., leased to KBI Biopharma.
“We are pleased to have fully subscribed JLLX Diversified III, DST,” said Drew Dornbusch, head of JLL exchange. “We continue to see strong demand from 1031 exchange investors and their fina
