JLL Income Property Trust Sells San Diego Apartment Community

Core Insights - JLL Income Property Trust has sold a 180-unit luxury apartment community, Dylan Point Loma, in San Diego, CA, as part of its strategy to recycle capital and invest in properties with better long-term growth potential [1][2][3] Group 1: Company Strategy and Performance - The sale aligns with JLL Income Property Trust's long-term strategy of harvesting gains and reinvesting in stronger property sectors for higher returns [2] - Over its 13-year history, the company has sold over 50 properties totaling more than $1.3 billion, maintaining a trading value within 1% of independent appraisals [3] - The company aims to increase its capital for new investments and redeploy into core, stabilized assets during a new real estate market cycle [3] Group 2: Portfolio Composition - After the sale, JLL Income Property Trust's residential investments remain significant, totaling $2.5 billion, which constitutes 38% of its $6.9 billion diversified portfolio [4] - The company manages a diversified portfolio that includes residential, industrial, retail, healthcare, and office properties across the United States [6] Group 3: Management and Investment Approach - JLL Income Property Trust is managed by an institutional investment team and is sponsored by a leading real estate services firm [5] - LaSalle Investment Management, a subsidiary of JLL, manages $86.4 billion in assets globally, indicating a strong backing and extensive experience in real estate investments [7]