JLL Income Property Trust, a non-traded daily NAV REIT sponsored by Jones Lang LaSalle (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), has purchased Villas at Legacy, a 328-unit multifamily property located in the Dallas suburb of Plano, Texas. The purchase price was not disclosed.
The Villas at Legacy apartments are located within the Legacy Business Park, a 2,665-acre master-planned business, retail and residential community employing nearly 100,000 people.
“The acquisition of Villas at Legacy further supports our investment strategy targeting well-positioned suburban markets with highly rated schools and strong market fundamentals and demographics,” said Allan Swaringen, president and CEO of JLL Income Property Trust.
Property amenities include a business center, picnic area with grills, courtyards, swimming pool, fitness center, and coffee bar.
Jones Lang LaSalle Income Property Trust owns and manages a $2.6 billion portfolio of 69 office, retail, industrial and apartment properties located primarily in the United States. Since 2012, the company has raised a total of approximately $1.5 billion through its ongoing public and various private offerings, as well as its distribution reinvestment plan.