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Jones Lang LaSalle Income Property Trust Inc Class I-A ( (ZIPIAX) ) just unveiled an update.
JLL Income Property Trust announced the origination of a $32 million senior secured floating rate first mortgage loan for a newly constructed apartment community in north suburban Houston, Texas. This move reflects the company’s strategy to capitalize on the current real estate lending market conditions, which have seen traditional lending sources face challenges. The loan is expected to yield 7% to 8%, offering JLL Income Property Trust accretive cash flows and portfolio diversification. The company is leveraging the disruption in the lending market to enhance its investment performance and expand its private real estate debt sector allocation. Additionally, the sponsor, Jones Lang LaSalle Incorporated, invested $100 million in JLL Income Property Trust, boosting its investing capacity during the current real estate recovery cycle.
More about Jones Lang LaSalle Income Property Trust Inc Class I-A
JLL Income Property Trust, Inc. is a daily NAV REIT that manages a diversified portfolio of high-quality, income-producing residential, industrial, grocery-anchored retail, healthcare, and office properties across the United States. The company plans to further diversify its portfolio globally. It is sponsored by LaSalle Investment Management, a leading global real estate investment manager with $88.2 billion in assets under management as of Q3 2024.
YTD Price Performance: 1.39%
Average Trading Volume: 0
Find detailed analytics on ZIPIAX stock on TipRanks’ Stock Analysis page.
