JLL Income Property Trust, an institutionally managed daily NAV REIT, has secured a three-year, $650 million credit facility with a syndicate of eight real estate lenders.
The credit facility contains a $415 million revolving line of credit and a $235 million term loan with an accordion feature that can increase the facility up to a total of $800 million.
The list of lenders, led by JPMorgan Chase Bank, include Bank of America, PNC Capital Markets, Wells Fargo Securities, Fifth Third Bank, BMO Harris Bank, Capital One and The Bank of New York Mellon.
“We appreciate the recognition by these eight major financial institutions of our investment strategy, the growth and quality of our portfolio, and our investment performance track record,” said Allan Swaringen, president and CEO of JLL Income Property Trust. “This expanded facility supports our growth ambitions and intent to modestly increase leverage at the beginning of this new economic cycle. It also facil
