JLL Income Property Trust Acquires Luxury Apartment Community in Suburban Orlando

JLL Income Property Trust Acquires Luxury Apartment Community in Suburban Orlando

CHICAGO, April 21, 2022 /PRNewswire/ — JLL Income Property Rely on, an institutionally managed day by day NAV REIT (NASDAQ: ZIPTAX ZIPTMX ZIPIAX ZIPIMX) with a lot more than $6.3 billion in portfolio assets and 119 properties, declared currently the acquisition of Jefferson Lake Howell, a recently created, course-A condominium community in the northern Orlando suburb of Casselberry, Florida. This amenity-wealthy, lakefront, 384-unit backyard-model apartment community was acquired for roughly $154 million. 

“This addition to our increasing household portfolio, an over weight portfolio allocation for us, aligns with our system to commit in very well-situated communities with sturdy desire motorists and large boundaries to entry for new competitors,” explained Allan Swaringen, JLL Cash flow House Have confidence in President and CEO. “The community’s proximity to superior paying out work centers and best-rated colleges, restricted offer of competitive homes alongside with negligible developable land in the spot for new apartments, alongside with the region’s regularly reduced vacancy prices manufactured this an appealing financial commitment that we think will travel extensive-term, stable income move for our portfolio.”

Swaringen also noted, “Orlando condominium demand was very resilient and remained positive even all through the pandemic-induced recession of 2020, regardless of deep task losses due to a drop in tourism. Then, in 2021, occupied models grew by a report 7 percent and rents greater 26 p.c rating seventh for modern rent expansion between 162 marketplaces tracked by LaSalle.”

Found fewer than 10 miles north of Downtown Orlando, Jefferson Lake Howell gives residents with easy access to highways serving major employment and transportation nodes by way of Interstate Freeway 4 and Condition Road 17, together with nearby retail facilities together with a Publix-anchored browsing center, a Walmart Supercenter and quite a few eating and enjoyment choices. The Orlando condominium sector is a LaSalle Analysis & Tactic recommended overweight for main expense specified its robust in-migration developments, restricted for-sale housing stock and report-low household emptiness fees. Orlando’s populace is forecasted to grow 1.9 per cent by way of 2026, very well above the US regular of .7 percent, when emptiness at the moment sits at a history-very low 2.1 p.c, under its 20-year regular of 5.6 percent. The house is also within just three miles of really rated educational institutions that are portion of Seminole County’s faculty program, which ranks in the prime 5 in Florida.

JLL Revenue Property Trust’s mixture household allocation is now over $2.7 billion, with more than 9,900 household models throughout 24 apartment communities and a 14-marketplace one-family rental portfolio representing 43 p.c of its $6.3 billion property portfolio. 

JLL Cash flow Home Belief is an institutionally managed, day-to-day NAV REIT that provides to traders a increasing portfolio of business actual estate investments selected by an institutional financial commitment administration workforce and sponsored by a person of the world’s main actual estate companies companies.

About JLL Cash flow Property Have faith in, Inc. (NASDAQ: ZIPTAX ZIPTMX ZIPIAX ZIPIMX),
Jones Lang LaSalle Revenue Property Rely on, Inc. is a every day NAV REIT that owns and manages a diversified portfolio of superior high-quality, revenue-manufacturing household, industrial, grocery-anchored retail, health care and business properties located in the United States. JLL Cash flow Property Belief expects to even further diversify its actual estate portfolio about time, such as on a world-wide foundation.. For much more info, visit www.jllipt.com.

About LaSalle Expenditure Management
LaSalle Investment decision Administration is a single of the world’s foremost real estate investment managers. On a worldwide foundation, LaSalle manages around $78 billion of assets in non-public and general public serious estate house and credit card debt investments as of Q4 2021. LaSalle’s varied consumer foundation consists of community and private pension cash, insurance coverage providers, governments, corporations, endowments and personal people today from across the globe. LaSalle sponsors a full array of financial investment autos which include individual accounts, open- and shut-conclude funds, public securities and entity-level investments. For additional info, remember to take a look at http://www.lasalle.com.

Valuations, Ahead Searching Statements and Long run Outcomes
This press release might incorporate forward-looking statements with respect to JLL Revenue Home Believe in. Ahead-hunting statements are statements that are not descriptions of historical points and contain statements pertaining to management’s intentions, beliefs, expectations, study, sector examination, strategies or predictions of the future. Since these types of statements include things like dangers, uncertainties and contingencies, precise outcomes may well vary materially from individuals expressed or implied by these kinds of forward-seeking statements. Previous efficiency is not indicative of long run effects and there can be no assurance that long term dividends will be paid.

Contacts:

Scott Sutton
LaSalle Investment decision Administration
Telephone:  +1 224 343 5538
E mail:  [email protected]

Doug Allen
Dukas Linden Community Relations
Telephone: +1 646 722 6530
Electronic mail:  [email protected]

Source JLL Income Residence Trust

JLL Income Property Trust Acquires 4-Building Suburban Atlanta Distribution Center | National News

JLL Income Property Trust Acquires 4-Building Suburban Atlanta Distribution Center | National News

CHICAGO, Dec. 7, 2021 /PRNewswire/ — JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.5 billion in portfolio assets, today announced the acquisition of Friendship Distribution Center, a newly constructed, four-building industrial portfolio totaling nearly 650,000 square feet. The Class A properties are located in the Atlanta suburb of Buford, Georgia, home to the premier Northeast Atlanta industrial submarket. The purchase price was $95 million.

“Friendship Distribution Center’s location in Atlanta’s Northeast submarket, high quality new construction and proximity to irreplaceable transportation infrastructure makes this an excellent portfolio fit for us as we continue to execute on our strategy of increasing our allocation to core industrial assets,” said Allan Swaringen, JLL Income Property Trust President and CEO. “Given this property’s strong tenant profile and exceptional location, this acquisition aligns well with our overall strategic objectives.”

JLL Income Property Trust’s aggregate industrial allocation is now over $1.6 billion of industrial holdings in 54 properties across 13 key markets, representing the second largest property type allocation in the portfolio.

Friendship Distribution Center is in an “A” location, with immediate proximity to Interstate 985, the major highway in the Northeast Atlanta submarket. Its strategic location provides access to the entire Eastern seaboard within a one to two-day drive.

Friendship Distribution Center is 96 percent leased to five tenants, with a weighted average lease term of approximately six years. According to LaSalle Research & Strategy, Atlanta is the fourth largest industrial market in the U.S. with more than 660 million square feet of space. The market set an absorption record in the second quarter of 2021 of 8.6 million square feet, bringing vacancy down to just 5 percent. The Northeast submarket specifically saw 2.1 million square feet of net absorption in the second quarter, the highest of any submarket in the Atlanta metro area, accounting for 24 percent of total absorption.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors 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 Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),

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 grocery-anchored 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. For more information, visit www.jllipt.com.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $76 billion of assets in private and public real estate property and debt investments as of Q3 2021. 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. For more information, please visit http://www.lasalle.com.

Valuations, Forward Looking Statements and Future Results

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.

Contacts:

Scott Sutton

LaSalle Investment Management

Telephone:  +1 224 343 5538

Email:  scott.sutton@lasalle.com

Doug Allen

Dukas Linden Public Relations

Telephone: +1 646 722 6530

Email:  JLLIPT@DLPR.com

 

 

 

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SOURCE JLL Income Property Trust

Suburban Family Still In Shock After They Hired Home Improvement Contractor Via HomeAdvisor, Only For The Contractor To Smash Up Their Property

Suburban Family Still In Shock After They Hired Home Improvement Contractor Via HomeAdvisor, Only For The Contractor To Smash Up Their Property

FOREST PARK, Ill. (CBS) — A suburban backyard was left in tatters with the garage and furniture hacked apart – and you won’t believe who was responsible.

As CBS 2’s Tim McNicholas reported, Jonathan Moody does not need video to remind him of May 15 – but there is video of what happened.

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“What are you doing?” his wife is heard yelling in horror as a man smashes the windows and siding on their garage – with their patio furniture already lying wrecked behind the man.

“It brings up just a lot of the trauma of that day,” Moody said.

He can’t forget that day, thanks to the missing window and cracked siding that greet him in his backyard each morning now.

“Especially for my wife, she’s had a really hard time with it,” Moody said. “She’s having trouble sleeping, she’s barricading the doors at night sometimes. We ended up going to therapy for trauma, and it’s just been really rough on her.”

The story starts in April, when the Moodys were looking for a contractor for improvements to their home in Forest Park. The search took them to HomeAdvisor.com, a website that claims to match homeowners with trusted local pros for any home project.

HomeAdvisor even boasts of an “extensive screening process to ensure every business in our network is reputable.”

“I felt like this was a great way to get a quality contractor to do this work,” Moody said.

But quality is far from what Moody got.

“While he was packing up his tools, he just started screaming and yelling – and broke all the patio furniture and threw it through the windows of the garage,” Moody said.

Moody said he was not satisfied with the work the contractor did before the rampage. Nonetheless, Moody had already paid the contractor in full, and has no idea why he did such a thing.

The couple asked us to hide the contractor’s identity, because they don’t want to anger him any further.

In a police report, an officer described the contractor as “physically violent,” “sweating profusely,” “frothing at the mouth,” and possibly “in a state of delirium” – so paramedics took him to a hospital.

“We really don’t want to give him any more reason to come back,” Moody said.

After the incident, Moody started to wonder about HomeAdvisor’s “extensive screening process.”

We did our own background check and found the contractor’s criminal history. He was found guilty of felony burglary in 2008.

Moody did some digging as well, and discovered another customer complained to HomeAdvisor about poor workmanship from the same contractor in April – before HomeAdvisor matched him within the Moodys.

READ MORE: Chicago Weather: Partly Cloudy And Breezy Overnight

That other customer is now suing the contractor.

“This all could have been avoided if they just did what they advertise that they do,” Moody said. “These contractors are coming into your home. This is a safety issue for each of the users of this platform, and I think they really need to take that seriously.”

HomeAdvisor and its parent company Angi would not agree to an interview.

A spokesperson told us in an email their screening process allows for certain felony convictions if they’re at least seven years old — including that 2008 burglary conviction.

As for the prior complaint? The company said they started to investigate it on April 29, and they suspended the contractor on May 3 – a day before Moody would pay for the project through the Angi app.

A suspension means no new work can begin, but already-scheduled projects like Moody’s are allowed to proceed.

And no one told the Moodys about that first complaint.

The Moodys kept their appointment, and on May 15, the “trusted local pro” wrapped up his work, grabbed his tools, and then went on that backyard rampage.

“It seems like they should have removed him, or at least suspended him from the service immediately when that happened,” Moody said, “and I think they should contact the other clients that he has – the other referrals that have been made – so that they know what to expect.”

HomeAdvisor says they finally booted the contractor from their platform for good after they saw the Moodys’ video. But by then, the Moodys’ backyard was already trashed.

“There like was a metal pole at one point that he started using to hack at the garage,” Moody said.

Now, Moody is in a months-long back and forth with HomeAdvisor.

The company offered to pay for the damage to the garage and for the shoddy work that needs to be redone, but they and Moody are thousands of dollars apart on what the dollar amount should be.

So for now, Moody said, “We really feel like we’ve lost a lot of our security living in this neighborhood – it doesn’t feel, like, safe anymore.”

And he is stuck with those daily reminders of a day he’d rather forget.

HomeAdvisor says they are disheartened by this incident, which they call rare. The company says their offer to the family went above and beyond the scope of the original project, but again, the Moodys disagree.

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HomeAdvisor’s full statement is as follows:

“HomeAdvisor has a thorough screening process, including a criminal background check on the owner or principal of the business, which this particular pro passed due to his conviction falling outside of our 7-year lookback period. We provide our customers with options of vetted, qualified pros to complete the specific projects they need done in their homes. We also provide coverage for projects booked and paid through our platform. Ultimately, you’re hiring the pro for work you need done, and we provide an easier, better way to do so.

“We were as disheartened as you to hear about this incident and have worked hard to try to make it right over the past few months, but unfortunately the customer has declined our offers, which covered above and beyond the scope of original project. We take customer complaints very seriously and this situation was no different. This contractor has been removed from our network to ensure this doesn’t happen to anyone else.

“This was a rare instance, but we assure you that we did and will always do our part by screening the pros on our network, holding them and their work to high standards, and backing your projects when they’re booked and paid through our platform.”

JLL Income Property Trust Acquires Luxury Apartment Community in Suburban Orlando

JLL Income Property Trust Acquires Premier Apartment Community in Suburban Denver

CHICAGO, Oct. 21, 2021 /PRNewswire/ — JLL Earnings Residence Believe in, an institutionally managed each day NAV REIT (NASDAQ: ZIPTAX ZIPTMX ZIPIAX ZIPIMX) with a lot more than $5.1 billion in portfolio assets, announced these days the acquisition of Pinecone Residences in the Denver suburb of Fort Collins, Colorado. The 13-building, 195-device yard-fashion condominium group was obtained for about $52 million, bringing JLL Money Assets Trust’s whole household allocation to far more than $2. billion, or 43 percent of overall belongings.

“The addition of Pinecone Apartments raises our household allocation, an overweight target for us, and fits very effectively with our approach to devote in perfectly-located multifamily communities with strong desire motorists and substantial boundaries to entry for new levels of competition,” claimed Allan Swaringen, JLL Cash flow Home Rely on President and CEO. “Provided its proximity to Colorado Condition University and the north suburban Denver spot, we consider this expense will continue on to see powerful tenant demand and secure occupancy, producing this an attractive, lengthy-term investment for our diversified portfolio.”

Created in 1993, Pinecone Residences just lately underwent device renovations and has taken care of a solid average occupancy of 95 p.c about the past 3 yrs. The group is at the moment 97 per cent leased.

Situated 50 miles north of Denver along I-25, Fort Collins is the No. 3-ranked sector by LaSalle Study & Method on its most the latest Compact Condominium Market Analysis owing to Fort Collins’s limited construction pipeline, sturdy extended-term emptiness charge of just 4.3 percent (15-yr ordinary) and annualized hire growth of 4 per cent in excess of the previous 15 several years. This market’s vacancy fee and rent progress are 1.2 per cent and 1.6 p.c better than the US normal, respectively. The metropolis benefits from a strong labor sector, bolstered by Colorado State College, which drives desire for effectively-found, amenitized condominium communities. The property is also located in an A-rated college district, according to Niche.com, and benefits from various walkable retail facilities.

JLL Earnings Property Belief is an institutionally managed, each day NAV REIT that provides to traders a increasing portfolio of industrial true estate investments chosen by an institutional financial investment administration team and sponsored by one of the world’s foremost authentic estate providers companies.

About Jones Lang LaSalle Income Home Belief, Inc. (NASDAQ: ZIPTAX ZIPTMX ZIPIAX ZIPIMX), Jones Lang LaSalle Earnings Assets Have confidence in, Inc. is a each day NAV REIT that owns and manages a diversified portfolio of higher good quality, cash flow-generating household, industrial, place of work and grocery-anchored retail properties positioned in the United States. JLL Money Property Belief expects to additional diversify its real estate portfolio more than time, such as on a world wide foundation. For more info, take a look at www.jllipt.com.

About LaSalle Expenditure Administration
LaSalle Expenditure Management is 1 of the world’s primary true estate financial commitment managers. On a worldwide foundation, LaSalle manages around $73 billion of assets in private and public real estate assets and debt investments as of Q2 2021. LaSalle’s diverse shopper foundation consists of general public and private pension funds, coverage organizations, governments, corporations, endowments and personal people from throughout the world. LaSalle sponsors a entire array of expenditure automobiles which include different accounts, open up- and shut-close cash, public securities and entity-degree investments. For far more information and facts you should pay a visit to http://www.lasalle.com, and LinkedIn.

Valuations, Ahead Hunting Statements and Upcoming Final results
This press launch may contain ahead-searching statements with regard to JLL Profits Assets Belief. Ahead-hunting statements are statements that are not descriptions of historical specifics and include things like statements with regards to management’s intentions, beliefs, anticipations, exploration, marketplace assessment, plans or predictions of the foreseeable future. Since these statements involve pitfalls, uncertainties and contingencies, genuine success could differ materially from these expressed or implied by such ahead-looking statements. Previous effectiveness is not indicative of foreseeable future benefits and there can be no assurance that future dividends will be paid out.

Contacts:

Scott Sutton
LaSalle Investment decision Administration
Phone:  +1 224 343 5538
Electronic mail:   [email protected]

Doug Allen
Dukas Linden Community Relations
Phone: +1 646 722 6530
Electronic mail:  [email protected]

Source JLL Profits Property Have confidence in