Press Release

JLL Income Property Trust Office Property Earns LEED Silver® Certification and ENERGY STAR® Label

March 29, 2018 — Chicago

Pioneer Tower

JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAXZIPTMXZIPIAXZIPIMX), today announced that Pioneer Tower, a Class A office asset in its portfolio located in Portland, has recently earned LEED Silver® certification. The 300,000-square-foot property also recently earned the U.S. Environmental Protection Agency’s (EPA’s) ENERGY STAR® certification, which signifies that the building performs in the top 25 percent of similar facilities nationwide for energy efficiency and meets strict energy efficiency performance levels set by the EPA. To meet the energy reduction prerequisites for LEED certification, properties must benchmark energy consumption against similar buildings across the nation. JLL Income Property Trust completed an energy audit on Pioneer Tower, which identified several energy conservation measures to successfully meet the energy prerequisite.

“We are delighted that Pioneer Tower was able to meet the stringent criteria required to achieve both LEED and ENERGY STAR distinctions,” commented Allan Swaringen, President & CEO of JLL Income Property Trust. “As proactive asset managers focused on value-creation for our shareholders, we believe that implementing Environmental, Social and Governance principles across our portfolio has a direct impact on our investment performance.”

JLL Income Property Trust acquired Pioneer Tower in July, 2016, and has been working toward the goal of earning LEED Silver certification for the building since early 2017.

With contributions from the local property team, a sustainability consultancy and in-house energy and sustainability experts, the following project highlights were achieved at Pioneer Tower:

- 100 percent of durable goods diverted from landfills
- High-performance green cleaning program that minimizes the use of chemicals, while also providing increased air quality
- Replacing any lamps with higher mercury content with either LED or low-mercury content bulbs
- Conversion of older restroom fixtures to achieve maximum indoor water efficiency
- Engaging and educating tenants in green measures such as increasing alternative transportation methods, and also increased recycling diversion rates

“LaSalle Investment Management and JLL are proud to demonstrate their collective commitment to ESG best practices through Pioneer Tower’s first LEED and Energy Star certifications,” noted Eric Duchon, Global Head of Sustainability with LaSalle. “Much like the approach at Pioneer Tower, we will continue to seek out cost-effective methods to achieve certifications across JLL Income Property Trust’s portfolio through initiatives such as our LEED Volume Program, which achieves certification at half of the cost of historical LEED projects.”

Pioneer Tower is a 17-story, multi-tenant, Class A office building in the heart of Portland’s central business district. Set atop Portland’s leading retail destination, Pioneer Tower offers a premium office experience within an unparalleled mixed-use urban environment and direct access to Pioneer Place, Portland’s number one shopping destination, while also offering convenient access to its Transit Mall, the city’s nexus of light rail public transportation systems. Pioneer Tower is 95% leased to a diverse roster of professional service tenants whose average tenure of occupancy is over fourteen years.


About JLL Income Property Trust

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and retail properties located primarily 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

LaSalle Investment Management, Inc., a member of the JLL group and advisor to JLL Income Property Trust, is one of the world’s leading global real estate investment managers with nearly 700 employees in 17 countries worldwide and approximately $60 billion of assets under management of private and public property equity and debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, endowments and private individuals from across the globe. For more information, visit www.lasalle.com. 

Forward Looking Statements

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, 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. 

Summary of Risk Factors

You should read the prospectus carefully for a description of the risks associated with an investment in JLL Income Property Trust. Some of these risks include but are not limited to the following:

  • Since there is no public trading market for shares of our common  stock, repurchases of shares by us after a one-year minimum  holding period will likely be the only way to dispose of your  shares. After a required one-year holding period, JLLIPT limits the amount of shares that may be repurchased under our repurchase plan to approximately 5% of our net asset value (NAV) per quarter and 20% of our NAV per annum. Because our assets will consist primarily of properties that generally cannot be readily liquidated, JLLIPT may not have sufficient liquid resources to satisfy repurchase requests. Further, our board of directors may modify or suspend our repurchase plan if it deems such action to be in the best interest of our stockholders. As a result, our shares have limited liquidity and at times may be illiquid.
  • The purchase and redemption price for shares of our common stock will be based on the NAV of each class of common stock and will not be based on any public trading market. Because valuation of properties is inherently subjective, our NAV may not accurately reflect the actual price at which our assets could be liquidated on any given day.
    JLLIPT is dependent on our advisor to conduct our operations. JLLIPT will pay substantial fees to our advisor, which increases your risk of loss. JLLIPT has a history of operating losses and cannot assure you that JLLIPT will achieve profitability. Our advisor will face conflicts of interest as a result of, among other things, time constraints, allocation of investment opportunities, and the fact that the fees it will receive for services rendered to us will be based on our NAV, which it is responsible for   calculating.
  • The amount of distributions JLLIPT makes is uncertain and there is no assurance that future distributions will be made. JLLIPT may pay distributions from sources other than cash f low from operations, including, without limitation, the sale of assets, borrowings, or offering proceeds. Our use of leverage increases the risk of your investment. If JLLIPT fails to maintain our status as a REIT, and no relief provisions apply, JLLIPT would be subject to serious adverse tax consequences that would cause a significant reduction in our cash available for distribution to our stockholders and potentially have a negative impact on our NAV.
  • While JLLIPT’s investment strategy is to invest in stabilized commercial real estate properties diversified by sector with a focus on providing current income to investors, an investment in JLLIPT is not an investment in fixed income. Fixed income has material differences from an investment in a non-traded REIT, including those related to vehicle structure, investment objectives and restrictions, risks, fluctuation of principal, safety, guarantees or insurance, fees and expenses, liquidity and tax treatment.
  • Investing in commercial real estate assets involves certain risks, including but not limited to: tenants’ inability to pay rent; increases in interest rates and lack of availability of financing; tenant turnover and vacancies; and changes in supply of or demand for similar properties in a given market.
  • You should carefully review the “Risk Factors” section of our prospectus for a discussion of the risks and uncertainties that we believe are material to our business, operating results, prospects and financial condition. Except as otherwise required by federal securities laws, we do not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
  • This sales material must be read in conjunction with the prospectus in order to fully understand all the implications and risks of the offering of securities to which it relates. This sales material is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the prospectus.
  • Investors could lose all or a substantial amount of their investment. Alternative investments are suitable only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
  • This material is not to be reproduced or distributed to any other persons (other than professional advisors of the investors or prospective investors, as applicable, receiving this material) and is intended solely for the use of the persons to whom it has been delivered. 

Forward-Looking Statement Disclosure

This literature contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms such as  “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”  “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,”  and other similar terms, including references to assumptions  and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks, uncertainties, and contingencies include, but are not limited to, the following: our ability to effectively raise capital in our offering; uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our investment strategy; and other risk factors as outlined in our prospectus and periodic reports filed with the Securities and Exchange Commission. Although JLLIPT believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. JLLIPT undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in our expectations.