JLL Income Property Trust Reports NAV Decline of at Least 1.3% in September

JLL Income Property Trust, a daily net asset value non-traded real estate investment trust, provided an update to its monthly net asset value per share for its classes of common stock, as of Sept. 30, 2023.

The net asset value of Class A shares decreased from $13.26 as of Aug. 31, 2023, to $13.09 as of Sept. 30, 2023, reflecting a decrease of approximately 1.3%.

Class M shares decreased from $13.29 each to $13.10, or a decrease of approximately 1.6%.

Class A-I shares decreased from $13.31 to $13.12, or a decrease of approximately 1.4%.

Class M-I shares decreased from $13.29 to $13.10, a decrease of approximately 1.6%.

Class D shares decreased from $13.28 to $13.08, or a decrease of approximately 1.5%.

The company also reported that it fulfilled all share redemption requests made during the third quarter, a total of 6,230,691 shares for approximately $82.7 million, well beneath the quarterly limit of approximately $168.0 million. Fourth quarter redemptions will be limited to approximately $157.3 million, which is 5% of the NAV of all classes of shares as of the last business day during the previous quarter.

Since the beginning of 2012, the REIT has raised a total of approximately $5.2 billion through its ongoing public and various private offerings, as well as its distribution reinvestment plan, including a total of approximately $150.3 million during the third quarter of 2023.

As of June 30, 2023, JLL Income Property Trust owned interests in a total of 137 properties and more than 4,400 single-family rental houses located in 27 states.

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