{"id":137813,"date":"2021-03-09T14:30:02","date_gmt":"2021-03-09T19:30:02","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&#038;p=137813"},"modified":"2021-03-09T14:30:02","modified_gmt":"2021-03-09T19:30:02","slug":"jll-income-property-trust-fully-subscribes-dst-offering-with-st-paul-apartment-community","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/jll-income-property-trust-fully-subscribes-dst-offering-with-st-paul-apartment-community\/","title":{"rendered":"JLL Income Property Trust Fully Subscribes DST Offering with St. Paul Apartment Community"},"content":{"rendered":"<h1>JLL Income Property Trust Fully Subscribes DST Offering with St. Paul Apartment Community<\/h1>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium\" src=\"https:\/\/qa.bluevaultpartners.com\/download\/news_articles\/2021\/march\/JLLIPT-fully-Subscribes-DST-Offering-with-St.-Paul-Apartment-Community.jpg\" width=\"1200\" height=\"627\"><\/p>\n<p>March 4, 2021<\/p>\n<p>Chicago (March 4, 2021) \u2013 JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ:&nbsp;ZIPTAX;&nbsp;ZIPTMX;&nbsp;ZIPIAX;&nbsp;ZIPIMX) with more than $3.5 billion in portfolio assets and 85 properties,&nbsp;announced today the full subscription of JLLX Penfield, DST, a 1031 tax-deferred exchange offering designed to provide accredited investors with the opportunity to defer taxes on gains from the sale of appreciated real estate. Structured as a Delaware Statutory Trust (DST), the syndicated offering owns The Penfield, a highly amenitized, 254-unit apartment community in St. Paul, Minnesota. Investors in the DST defer the recognition of capital gains from the sale of their appreciated real estate, eliminate the responsibility of actively managing replacement properties, and participate in the cash flow and any future appreciation of&nbsp;The Penfield.<\/p>\n<p>\u201cWe are extremely pleased by the market\u2019s strong, positive response to JLLX Penfield,\u201d said Allan Swaringen, President and CEO of JLL Income Property Trust, noting the offering was fully subscribed at a near record pace. \u201cSince the launch of our market-redefining, core, daily NAV REIT program more than eight years ago, the most asked for solution from financial advisors has been a companion 1031 exchange offering, and the market\u2019s rapid response to our offerings continues to exceed our expectations.\u201d<\/p>\n<p>The Penfield is a Class-A apartment community located in the heart of downtown St. Paul. The award-winning, transit-oriented, apartment community includes a ground-floor commercial space that is leased to a premier local grocer on a long-term basis. In 2020, The Penfield became the first apartment community in Minnesota to receive a Fitwel certification, receiving a two-star rating given its proximity to parks, playground and bike share, an attached grocery store, tobacco-free and indoor air quality policies, and units that minimize noise and maximize natural views.<\/p>\n<p><strong><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-ico-before dashicons-welcome-widgets-menus\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" href=\"https:\/\/jllipt.com\/newsroom\/press-release\/jll-income-property-trust-fully-subscribes-dst-offering-with-st-paul-apartment-community\" rel=\"noopener\">Read Full Press Release<\/a><\/strong><\/p>\n<div style=\"clear:both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Chicago (March 4, 2021) \u2013 JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $3.5 billion in portfolio assets&#8230;<\/p>\n","protected":false},"author":2700,"featured_media":24443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2925,2934,3010,2877,2817],"tags":[],"class_list":["post-137813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1031-exchange","category-acquisitions","category-asset-manager-news","category-jll","category-multifamily"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - 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