JLL Income Property Trust Fully Subscribes $197 Million Diversified DST

JLL Income Property Trust (ZIPDBX) reported full subscription of its $197 million JLLX Diversified 11, DST program for 1031 exchange investors.

Rhea-AI Summary

JLL Income Property Trust (ZIPDBX) reported full subscription of its $197 million JLLX Diversified 11, DST program for 1031 exchange investors.

The Delaware Statutory Trust holds a diversified portfolio of twelve institutional-quality properties: a seven-asset industrial portfolio totaling 646,000 square feet near Chicago O'Hare, four healthcare buildings totaling 83,000 square feet across four states, and a 49,000-square-foot grocery-anchored retail center in Las Vegas. JLL Exchange has raised more than $2.5 billion across 30 DST offerings since 2019, while JLL Income Property Trust manages approximately $7.0 billion in portfolio equity and debt investments.

Positive

• JLLX Diversified 11, DST fully subscribed at $197 million
• Seven industrial assets totaling 646,000 square feet in Chicago O'Hare submarket
• Four healthcare buildings totaling 83,000 square feet across Florida, Massachusetts, Kansas and Missouri
• Grocery-anchored retail center of 49,000 square feet in Las Vegas, Nevada
• JLL Exchange capital raised exceeds $2.5 billion across 30 DST offerings since 2019
• JLL Income Property Trust portfolio size approximately $7.0 billion in equity and debt investments

Negative

• None.

Key Figures

DST program size: $197 million 1031 exchange: 1031 exchange Property count: 12 properties +5 more

DST program size

$197 million

Fully subscribed JLLX Diversified 11, DST

1031 exchange

1031 exchange

Tax-deferred real estate reinvestment structure

Property count

12 properties

Diversified portfolio across three sectors

Industrial portfolio

646,000 square feet

Seven-property Chicago O'Hare industrial portfolio

Healthcare portfolio

83,000 square feet

Four healthcare buildings

Retail property

49,000 square feet

Grocery-anchored retail shopping center in Las Vegas

DST offerings

$2.5 billion across 30 DST offerings

JLL Exchange since its inception in 2019

UPREIT transactions

20 transactions totaling $1.5 billion

Completed by JLL Income Property Trust to date

Key Terms

delaware statutory trust, 1031 exchange, daily NAV REIT, UPREIT

4 terms

delaware statutory trust financial

"The $197 million program was structured as a Delaware Statutory Trust"

A Delaware statutory trust is a legal structure created under Delaware law that holds assets—often real estate or income-producing property—and issues shares of ownership to investors. It separates the assets and liabilities of the trust from individual investors, like a shared landlord that collects rent and pays expenses, and matters to investors because it can simplify ownership, limit personal liability, and make it easier to receive steady income or trade ownership stakes without managing properties directly.

1031 exchange financial

"designed to provide 1031 exchange investors the opportunity to reinvest proceeds"

A 1031 exchange is a U.S. tax rule that lets an investor swap one investment property for another similar property and delay paying capital gains tax on the sale. Think of it like trading one house for another without cashing out: by postponing the tax bill, investors can keep more money working in real estate, which affects cash flow, reinvestment decisions, and long‑term returns.

daily NAV REIT financial

"JLL Income Property Trust, an institutionally managed, daily NAV REIT"

A daily NAV REIT is a type of real estate investment trust that calculates and publishes its net asset value (the estimated worth of its property holdings minus liabilities) every trading day, rather than weekly or monthly. For investors, this is important because it offers near‑real‑time transparency about the fund’s underlying value—like seeing the daily price of a product—helping you judge whether the market price is a fair deal and manage cash flow or redemptions more confidently.

UPREIT financial

"JLL Income Property Trust has completed 20 full cycle UPREIT transactions"

An UPREIT is a legal structure in which a real estate investment trust (REIT) uses an operating partnership to hold properties, allowing property owners to contribute real estate in exchange for partnership units rather than direct REIT shares. It matters to investors because this setup can let sellers defer immediate capital gains tax, provide a path to liquidity and gradual conversion into REIT ownership, and align incentives between property contributors and the REIT by tying returns to the partnership’s property portfolio.

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CHICAGO, Sept. 3, 2026 /PRNewswire/ -- JLL Income Property Trust, an institutionally managed, daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX; ZIPIBX; ZIPSAX; ZIPZAX; ZIPDBX) with approximately $7.0 billion in portfolio equity and debt investments, announced today that it has fully subscribed JLLX Diversified 11, DST. The $197 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.

JLLX Diversified 11, DST consists of a strategically diversified portfolio of twelve institutional-quality properties across three sectors: a seven-property industrial portfolio totaling 646,000 square feet in Chicago's O'Hare submarket, four healthcare buildings totaling 83,000 square feet located in Florida, Massachusetts, Kansas and Missouri, and a grocery-anchored retail shopping center of 49,000 square feet in Las Vegas, Nevada.

"We are thrilled to have fully subscribed JLLX Diversified 11, DST," said Drew Dornbusch, Head of JLL Exchange. "This offering represents our most diversified program to date, combining twelve high-quality assets across industrial, healthcare, and retail sectors in some of the nation's most strategic markets. The level of demand we continue to see underscores the value our platform provides to 1031 investors seeking institutional-grade real estate with meaningful tax and estate planning benefits."

"Industrial, healthcare, and grocery-anchored retail remain three of the most fundamentally sound property sectors in real estate," said Allan Swaringen, President and CEO of JLL Income Property Trust. "JLLX Diversified 11, DST provides investors with durable income streams supported by strong tenant demand, favorable demographic trends, and attractive market fundamentals. This program exemplifies our commitment to delivering diversified, income-stable real estate investments within a tax-advantaged structure."

Since its inception in 2019, JLL Exchange has attracted more than $2.5 billion across 30 DST offerings from property owners seeking to maintain a meaningful allocation to real estate in a tax efficient manner. To date, JLL Income Property Trust has completed 20 full cycle UPREIT transactions totaling $1.5 billion.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms.

For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.

JLL INCOME PROPERTY TRUST, INC. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX; ZIPIBX; ZIPSAX; ZIPZAX; ZIPDBX),

JLL Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.

ABOUT LASALLE INVESTMENT MANAGEMENT | INVESTING TODAY. FOR TOMORROW.

LaSalle Investment Management, a subsidiary of JLL, is a globally integrated, diverse real estate investment manager. On a global basis, LaSalle manages US$86.8 billion of assets in private and public real estate equity and debt investments as of Q1 2026. LaSalle's client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a diverse range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

Forward Looking Statements and Future Results

This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future distributions will be paid.

CONTACTS:

Michael Gelobter
LaSalle Investment Management
Email: Michael.gelobter@lasalle.com

Doug Allen
Dukas Linden Public Relations
Telephone: +1 646 722 6530
Email: JLLIPT@DLPR.com

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SOURCE JLL Income Property Trust

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did JLL Income Property Trust (ZIPDBX) announce about JLLX Diversified 11, DST?

JLL Income Property Trust announced that its JLLX Diversified 11, DST program is fully subscribed at $197 million. The Delaware Statutory Trust targets 1031 exchange investors seeking to reinvest proceeds from appreciated real estate on a tax-deferred basis.

How large is the JLLX Diversified 11, DST offering associated with ZIPDBX?

JLLX Diversified 11, DST is a $197 million Delaware Statutory Trust. It is designed to provide 1031 exchange investors with access to a diversified portfolio of institutional-quality real estate while allowing them to defer taxes on appreciated property sales.

What properties are included in the JLLX Diversified 11, DST portfolio for JLL Income Property Trust?

The JLLX Diversified 11, DST portfolio includes twelve properties: a seven-asset industrial portfolio totaling 646,000 square feet in Chicago's O'Hare submarket, four healthcare buildings totaling 83,000 square feet in four states, and a 49,000-square-foot grocery-anchored retail center in Las Vegas.

How does JLLX Diversified 11, DST benefit 1031 exchange investors in JLL Income Property Trust (ZIPDBX)?

The company states that JLLX Diversified 11, DST offers 1031 exchange investors the opportunity to reinvest proceeds from appreciated real estate into institutional-grade assets while deferring taxes. It also emphasizes potential income stability, diversification across sectors, and estate planning benefits.

What is the sector diversification of the JLLX Diversified 11, DST linked to ZIPDBX?

JLLX Diversified 11, DST spans three sectors: industrial, healthcare, and grocery-anchored retail. The assets include industrial properties near Chicago O'Hare, healthcare buildings in Florida, Massachusetts, Kansas and Missouri, and a grocery-anchored shopping center in Las Vegas.

How much capital has JLL Exchange raised in DST offerings since 2019?

Since its inception in 2019, JLL Exchange has attracted more than $2.5 billion across 30 Delaware Statutory Trust offerings. These programs serve property owners who want to maintain exposure to real estate in a tax-efficient manner through 1031 exchange structures.

What is the size of JLL Income Property Trust’s overall portfolio related to ZIPDBX?

JLL Income Property Trust reports managing approximately $7.0 billion in portfolio equity and debt investments. The portfolio includes diversified, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located across the United States.