JLL Income Property Trust NAV Continues Decline in May, Redemptions Remain Within Limits

JLL Income Property Trust, a daily net asset value non-traded real estate investment trust, provided an update on the status of its quarterly share redemptions and monthly net asset value per share for its classes of common stock, as of May 31, 2023.

The company reported that it fulfilled all share redemption requests, a total of 4,178,598 shares for approximately $57.2 million in May. Eligible share repurchases during the second quarter are limited to approximately $168.0 million, or 5% of the NAV of all classes of shares, indicating that redemption requests should continue to remain within the REIT’s 5% quarterly limit.

The net asset value of Class A shares decreased from $13.69 as of April 28, 2023, to $13.54 as of May 31, 2023.

Class M shares decreased from $13.72 each to $13.57.

Class A-I shares decreased from $13.73 to $13.58.

Class M-I shares decreased from $13.72 to $13.57.

Class D shares decreased from $13.70 to $13.55.

Since the beginning of 2012, the REIT has raised a total of approximately $4.9 billion through its ongoing public and various private offerings, as well as its distribution reinvestment plan, including a total of approximately $196.6 million during the first quarter of 2023.

As of March 31, 2023, JLL Income Property Trust owned interests in a total of 136 properties and more than 4,400 single-family rental houses located in 27 states. As of March 31, 2023, the total company NAV across all share classes was approximately $3.4 billion.

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