Press Release

JLL Income Property Trust Declares 14th Consecutive Quarterly Dividend

May 12, 2015 — Chicago

JLL Income Property Trust (the “Company”), an institutionally-managed, non-listed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), announced that on May 5, 2015, its board of directors declared a regular quarterly dividend of $0.12 per share for the second quarter 2015. The Company has paid 14 consecutive quarterly dividends to its stockholders beginning with the first quarter 2012.

The dividend is payable on August 7, 2015, to stockholders of record on June 29, 2015. On an annualized basis, this gross dividend is equivalent to $0.48 per share and represents a yield of approximately 4.5% on the current NAV per share of $10.77 as of May 6, 2015. All stockholders will receive $0.12 per share less applicable share class specific fees.

“We continue to offer to our investors stable dividend payments fully covered by cash flow from operations and at one of the highest dividend coverage ratios in the non-listed REIT industry. Offering an attractive level of current income for distribution to our stockholders is one of our primary investment objectives. In addition, we continue to see opportunities to acquire high quality, income-producing properties to add to our portfolio for that purpose,” commented Allan Swaringen, President and CEO of JLL Income Property Trust.

A first quarter dividend of $0.12 per share, less applicable share class specific fees, was paid according to the table below on May 1, 2015, to stockholders of record as of the close of business on March 30, 2015. 


M-I Share (1)

A-I Share (2)

M Share (3)

A Share (4)

Q1 Quarterly Gross Dividend per Share

$0.12000 

$0.12000 

$0.12000 $0.12000 

Less: Dealer Manager Fee per Share

($0.00065) ($0.00777) ($0.00791)  ($0.02553) 

Q1 Quarterly Net Dividend per Share

$0.11935 $0.11223  $0.11209  $0.09447  

NAV per Share as of March 30, 2015

$10.79 $10.78  $10.77 

 

$10.74 

Annualized Net Dividend Yield Based on NAV as of March 30, 2015

4.4%

4.2%

4.2%

3.5%

1 A dealer manager fee equal to 1/365th of 0.05% of NAV is allocated to Class M-I stockholders daily and reduces the quarterly dividend paid.

2 A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class A-I stockholders daily and reduces the quarterly dividend paid. 

3 A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class M stockholders daily and reduces the quarterly dividend paid. 

4 A dealer manager fee equal to 1/365th of 1.05% of NAV is allocated to Class A stockholders daily and reduces the quarterly dividend paid.

JLL Income Property Trust is a non-listed, daily valued perpetual life real estate investment trust (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.

For more information on JLL Income Property Trust, please visit our website at www.jllipt.com. 


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 $65.7 billion equity and debt investments under management (as of Q2 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.