Press Release

JLL Income Property Trust Announces Tax Treatment of 2017 Distributions

January 29, 2018 — Chicago

JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAXZIPTMXZIPIAXZIPIMX), today announced the income tax treatment of its 2017 dividends. For the tax year ended December 31, 2017, 100 percent of the distributions paid in 2017 will qualify as a non-dividend distribution or return of capital. 

“We are pleased to once again report having paid out highly tax-efficient distributions to our stockholders,” commented Allan Swaringen, President & CEO of JLL Income Property Trust. “While our primary investment objectives remain durability of income distributions and preservation of capital, for our taxable investors, we also strive to provide them with a longer-term source of tax-advantaged income.” 

The table below summarizes the income tax treatment of distributions paid to stockholders during the year ended December 31, 2017:


Class A

Record Date

Payment Date

Net Distribution
per share (1)

Ordinary Income

Capital Gain Income

Return of Capital

12/29/2016

2/1/2017

$0.09799

$—

—%

$—

—%

$0.09799

100.00%

3/30/2017

5/1/2017

 0.09699

0.09699

100

6/29/2017

8/1/2017

0.09660

0.09660

100

9/28/2017

11/1/2017

0.09623

0.09623

100

Total

$0.38781

$—

—%

$—

—%

$0.38781

100.00%

(1) Distributions per share are net of dealer manager fees of 1.05% of net asset value.

Class M

Record Date

Payment Date

Net Distribution
per share (2)

Ordinary Income

Capital Gain Income

Return of Capital

12/29/2016

2/1/2017

$0.11694

$—

—%

$—

—%

$0.11694

100.00%

3/30/2017

5/1/2017

0.11684

0.11684

100

6/29/2017

8/1/2017

0.11677

0.11677

100

9/28/2017

11/1/2017

0.11663

0.11663

100

Total

$0.46718

$—

—%

$—

—%

$0.46718

100.00%

(2) Distributions per share are net of dealer manager fees of 0.30% of net asset value.

Class A-I

Record Date

Payment Date

Net Distribution
per share (3)

Ordinary Income

Capital Gain Income

Return of Capital

12/29/2016

2/1/2017

$0.11753

$—

—%

$—

—%

$0.11753

100.00%

3/30/2017

5/1/2017

0.11686

0.11686

100

6/29/2017

8/1/2017

0.11607

0.11607

100

9/28/2017

11/1/2017

0.11649

0.11649

100

Total

$0.46695

$—

—%

$—

—%

$0.46695

100.00%

(3) Distributions per share are net of dealer manager fees of 0.30% of net asset value.

Class M-I

Record Date

Payment Date

Net Distribution
per share (4)

Ordinary Income

Capital Gain Income

Return of Capital

12/29/2016

2/1/2017

$0.12372

$—

—%

$—

—%

$0.12372

100.00%

3/30/2017

5/1/2017

0.12366

0.12366

100

6/29/2017

8/1/2017

0.12365

0.12365

100

9/28/2017

11/1/2017

0.12361

0.12361

100

Total

$0.49464

$—

—%

$—

—%

$0.49464

100.00%

(4) Distributions per share are net of dealer manager fees of 0.05% of net asset value.

The dollar amount reported on each investor's respective 1099-DIV will depend on the total amount of distributions received throughout the year which can be affected by the share class held and the length of time the shares were owned. The distribution declared on November 17, 2017, payable on or around February 1, 2018, will be a 2018 tax event and is not reflected in the 2017 tax allocation. 

This release is based on the preliminary results of work on the Company's tax filings and may be subject to adjustment. The income tax allocation for the distributions discussed above has been calculated using the best available information as of the date of the release. The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company's distributions. Tax treatment of distributions is dependent on a number of factors and there is no guarantee that future distributions will qualify as a nondividend distribution or return of capital. 

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.


About JLL Income Property Trust

Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

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 real estate investment managers with approximately $65.0 billion equity and debt investments under management (as of Q1 2020). LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open and closed-end funds, public securities and entity-level investments. LaSalle is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Inc. (NYSE: JLL), one of the world’s largest real estate companies. For more information please 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, research, market analysis, 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. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.