JLL Income Property Trust Fully Subscribes $168M Multifamily, Retail Offering
JLL Income Property Trust announced the full subscription of its $168 million Delaware Statutory Trust (DST) offering, JLLX Diversified 9, DST. The offering comprises two multifamily residential communities in Fort Collins, CO—totaling 210 and 195 units respectively—alongside a 118,000-square-foot grocery-anchored retail center in Phoenix, AZ.
“The multifamily rental and grocery-anchored retail sectors continue to show strong fundamentals, as rental growth and demand for necessity property types remains resilient,” said Allan Swaringen, President and CEO of JLL Income Property Trust.
The latest offering marks a continuation of JLL’s successful DST platform, JLL Exchange, which launched in 2019 and has since raised over $1.95 billion across 26 offerings. So far, JLL Income Property Trust has completed 15 full-cycle UPREIT transactions totaling $1.2 billion.
JLL Income Property Trust, a daily NAV REIT with approximately $6.5 billion in assets, has consistently seen strong investor demand for its DST offerings. Earlier this year, the firm fully subscribed its $104 million JLLX Diversified VI, DST, and in late 2023, it successfully closed its $100 million JLLX Diversified V, DST, and in October it fully subscribed its $65 million industrial focused JLLX Grand Prairie, DST.