Press Release

JLL Income Property Trust Declares 24th Consecutive Quarterly Dividend

November 17, 2017 — Chicago

JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAXZIPTMXZIPIAXZIPIMX),announced that on November 9, 2017 its Board of Directors approved a gross dividend for the fourth quarter of 2017 of $0.125 per share. JLL Income Property Trust has declared twenty-four consecutive quarterly dividends to its stockholders beginning with the first quarter 2012. 

The dividend is payable on or around February 1, 2018 to stockholders of record as of December 28, 2017. On an annualized basis, this gross dividend is equivalent to $0.50 per share and represents a yield of approximately 4.3 percent on a NAV per share of $11.62 as of November 13, 2017. All stockholders will receive $0.125 per share less applicable share class specific fees and the annualized yield will differ based on the share class. 

“We are pleased to be able to continue to offer our investors stable dividend payments at one of the highest coverage ratios in the daily valued, perpetual life REIT sector. Offering an attractive level of current income for distribution to our stockholders remains one of our primary objectives, and we are focused on enhancing the quality of our portfolio and actively managing our balance sheet to support this outcome,” said Allan Swaringen, President and CEO of JLL Income Property Trust. 

A third quarter dividend of $0.125 per share, less applicable share class specific fees, was paid according to the table below on November 1, 2017 to stockholders of record as of the close of business on September 28, 2017.


M-I Share1A-I Share2M Share3A Share4
Q3 Quarterly Gross Dividend per Share$0.12500$0.12500$0.12500$0.12500
Less: Dealer Manager Fee per Share($0.00139)($0.00851)($0.00837)($0.02877)
Q3 Quarterly Net Dividend per Share$0.12361$0.11649$0.11663$0.09623
NAV per Share as of September 30, 2017$11.54$11.54$11.53$11.50
Annualized Net Dividend Yield Based on NAV
as of September 30, 2017
4.3%4.0%
4.0%3.3%
  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.

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.