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CHICAGO, March 10, 2025 ~ JLL Income Property Trust, a daily NAV REIT with a portfolio of approximately $6.6 billion in equity and debt investments, has announced the sale of an 80,000 square foot light industrial/flex property located in San Marcos, CA. The property, situated at 237 Via Vera Cruz in the San Diego submarket, was sold for an undisclosed amount.
This sale is in line with JLL Income Property Trust's strategy of harvesting gains and reinvesting capital into property sectors and markets that offer higher potential returns. The property was acquired by the trust in 2021 and has proven to be a successful investment, generating an attractive internal rate of return during its three-year hold period.
Allan Swaringen, President and CEO of JLL Income Property Trust, stated that the recent zoning change in the area has increased investor interest in this location. This presented an opportunity for the trust to sell out of a vacancy in their portfolio and redirect their capital towards more stable assets at the early stages of a new market cycle.
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This sale is part of JLL Income Property Trust's long-term track record of selling properties at values close to their independent appraised value. Over its 12-year history, the trust has sold 50 properties totaling over $1.3 billion on an arms-length basis using an institutional valuation methodology.
Despite this disposition, JLL Income Property Trust maintains a significant allocation to industrial investments. With $2.0 billion invested across 57 properties, industrial investments make up 32% of the trust's diversified portfolio.
JLL Income Property Trust is managed by LaSalle Investment Management, one of the world's leading real estate investment managers with over US$88 billion in assets under management globally as of Q3 2024. LaSalle's diverse client base includes pension funds, insurance companies, governments, corporations, endowments and private individuals from around the world.
Investors can learn more about JLL Income Property Trust and its portfolio of commercial real estate investments by visiting their website at www.jllipt.com. The trust's goal is to continue diversifying its real estate portfolio, including on a global scale.
In conclusion, the sale of the light industrial/flex property in San Marcos, CA aligns with JLL Income Property Trust's strategy of maximizing returns for investors. With a successful track record and a strong management team, the trust remains committed to providing attractive investment opportunities in the commercial real estate market.
This sale is in line with JLL Income Property Trust's strategy of harvesting gains and reinvesting capital into property sectors and markets that offer higher potential returns. The property was acquired by the trust in 2021 and has proven to be a successful investment, generating an attractive internal rate of return during its three-year hold period.
Allan Swaringen, President and CEO of JLL Income Property Trust, stated that the recent zoning change in the area has increased investor interest in this location. This presented an opportunity for the trust to sell out of a vacancy in their portfolio and redirect their capital towards more stable assets at the early stages of a new market cycle.
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This sale is part of JLL Income Property Trust's long-term track record of selling properties at values close to their independent appraised value. Over its 12-year history, the trust has sold 50 properties totaling over $1.3 billion on an arms-length basis using an institutional valuation methodology.
Despite this disposition, JLL Income Property Trust maintains a significant allocation to industrial investments. With $2.0 billion invested across 57 properties, industrial investments make up 32% of the trust's diversified portfolio.
JLL Income Property Trust is managed by LaSalle Investment Management, one of the world's leading real estate investment managers with over US$88 billion in assets under management globally as of Q3 2024. LaSalle's diverse client base includes pension funds, insurance companies, governments, corporations, endowments and private individuals from around the world.
Investors can learn more about JLL Income Property Trust and its portfolio of commercial real estate investments by visiting their website at www.jllipt.com. The trust's goal is to continue diversifying its real estate portfolio, including on a global scale.
In conclusion, the sale of the light industrial/flex property in San Marcos, CA aligns with JLL Income Property Trust's strategy of maximizing returns for investors. With a successful track record and a strong management team, the trust remains committed to providing attractive investment opportunities in the commercial real estate market.
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