Jones Lang LaSalle Income Property Trust, a daily net asset value real estate investment trust, reported its daily share valuations for July 2022 in a filing with the Securities and Exchange Commission. The REIT also reported its property acquisitions for the month.
Class A shares increased from $14.85 on July 1st to $14.88 on July 29th.
Class M shares increased from $14.87 on July 1st to $14.91 on July 29th.
Class A-I shares increased from $14.89 on July 1st to $14.92 on July 29th.
Class M-I shares increased from $14.87 on July 1st to $14.91 on July 29th.
Class D shares increased from $14.85 on July 1st to $14.89 on July 29th.
During the month of July, purchased three properties for a combined $108.8 million, including:
- Oak Street Lofts, a 187-unit residential property located in Tigard, Oregon, was purchased for $81.5 million.
- Grand Rapids Medical Center, a 25,100 square-foot medical office building located in Wyoming, Michigan, was purchased for $9.3 million.
- Glendale Medical Center, a 20,000 square-foot medical office building located in Los Angeles, was purchased for $18.2 million.
During the period from July 1, 2022 through July 31, 2022, the REIT redeemed nearly 2.1 million shares for a total of approximately $30.8 million through its share repurchase plan.
Eligible share repurchases from July 1, 2022 through September 30, 2022 are limited to approximately $172 million, which is 5 percent of the NAV of all classes of shares as of the last business day of the previous calendar quarter.
Jones Lang LaSalle Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) oversees a $6.7 billion portfolio of residential, industrial, office and grocery-anchored retail properties. Since the beginning of 2012, the REIT raised a total of approximately $4.1 million through its ongoing public and various private offerings, as well as its distribution reinvestment plan.
The REIT raised a total of approximately $418.6 million during the second quarter 2022. As of June 30, 2022, the total company NAV across all share classes was approximately $3.4 billion.