JLL Income Property Trust Sells Washington DC Area Apartment Community

Core Insights - JLL Income Property Trust has announced the sale of Kingston at McClean Crossing, a 319-unit apartment community in McClean, VA, for an undisclosed amount, aligning with its strategy of capital recycling and reinvestment into higher-performing properties [1][2]. Group 1: Company Strategy and Performance - The sale supports JLL Income Property Trust's long-term strategy of harvesting gains and reinvesting in property sectors that are better positioned for future returns [2]. - Over its 13-year history, the company has sold more than 50 properties totaling over $1.3 billion, maintaining a trading value within 1% of the most recent independent appraised value [3]. - The company aims to increase its capital available for new investments and redeploy into more core, stabilized assets during a new market cycle for real estate [3]. Group 2: Portfolio Composition - After the sale, JLL Income Property Trust's allocation to residential investments remains significant, with $2.5 billion in residential sector investments, which constitutes 38% of its total $6.9 billion diversified portfolio [4]. - The portfolio includes high-quality, income-producing residential, industrial, grocery-anchored retail, healthcare, and office properties located in the United States [5]. Group 3: Company Background - JLL Income Property Trust is an institutionally managed, daily NAV REIT with a growing portfolio of real estate investments, sponsored by a leading real estate services firm [5]. - LaSalle Investment Management, a subsidiary of JLL, manages $86.4 billion in assets globally, indicating the scale and reach of the investment management capabilities [6].