Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
JLLX Diversified 11, DST is a Delaware statutory trust — a passive co-ownership structure whose interests can be used in a 1031 exchange — sponsored by JLL Exchange. Its single Form D reports a roughly $197.0 million private offering sold only to accredited investors meeting SEC income or net-worth tests, with a first sale on February 24, 2026, and it names no properties.1
Assets undisclosed (506b); min $500k; $10.2M/$197M sold, 2 investors, first sale 2/24/26 per Form D
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These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Public filings do not identify what this Trust owns. The Form D describes the offering without naming a property, location, tenant, or lease, and those facts remain unresolved in public records.1 Earlier trusts in the series mixed asset types — the sponsor said the $158 million JLLX Diversified VIII held a 323-unit Wilsonville, Oregon apartment community and an approximately 147,000-square-foot grocery-anchored center — but Trust 11's holdings are unstated.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $10,203,170
- Still available
- $186,840,308
- Investors reported
- 2
- Total offering
- $197,043,478
How is it financed, and what does it pay?
The Form D covers equity interests only, and no located public filing states whether the Trust carries mortgage debt, so leveraged versus all-cash remains unsettled until the PPM — the private placement memorandum given to prospective investors — is read.1
Who's behind it?
JLL Exchange is the 1031 exchange platform tied to JLL Income Property Trust; the Form D names JLL Exchange TRS, LLC as a promoter alongside LaSalle Investment Management, Inc.1 The sponsor said it fully subscribed the $168 million JLLX Diversified IX on July 23, 2025 and the $158 million Diversified VIII on May 28, 2025. AltsWire reported on August 18, 2026 that the REIT completed its 20th full-cycle UPREIT in that DST platform, reaching roughly $1.5 billion.
- Sponsor
- JLL Exchange (JLLX)
- Legal Trust name
- JLLX Diversified 11, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 6 active / 20 total offerings from JLL Exchange (JLLX)
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
No amendment or later filing appears in the SEC's submissions record for this issuer, so the terms on record remain the original ones.2 Interests are sold privately — no general advertising, and only to accredited investors — with the first sale reported as February 24, 2026.1
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is JLLX Diversified 11, DST still raising money?
Top1031 lists JLLX Diversified 11, DST as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for JLLX Diversified 11, DST?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What properties does JLLX Diversified 11, DST own?
Public filings do not say. The Trust's only SEC filing is a Form D notice under Rule 506(b), an exemption that lets an issuer sell privately to accredited investors without general advertising and without naming assets in the notice. Property identity, location, tenants, and leases would be described in the private placement memorandum, which is not public.
Who is behind this Trust?
JLL Exchange (JLLX), the 1031 exchange platform associated with JLL Income Property Trust. The Form D names JLL Exchange TRS, LLC as a promoter of the issuer and also names LaSalle Investment Management, Inc.; Gregory A. Falk signed as Vice President of the signatory trustee.
How large is the offering, and what is the minimum investment?
The Form D notice filed March 5, 2026 reports a total offering amount of $197,043,478 and a $500,000 minimum accepted from an outside investor. A sponsor can set different or discretionary minimums in the offering documents, so the PPM controls.
Can anyone invest in a Rule 506(b) offering like this?
No. Under Rule 506(b), interests may be sold only to accredited investors — those meeting SEC income or net-worth thresholds — and the sponsor may not use general solicitation or advertising. Access typically comes through a pre-existing relationship with the sponsor or a registered representative.
Is the Trust leveraged?
The located public filings do not state whether JLLX Diversified 11, DST carries mortgage debt. Neither lender identity nor loan terms appear in the Form D. Establishing leverage, debt service, and maturity requires the PPM and the loan documents.
Does the JLL Exchange platform have a track record of exits?
AltsWire and PR Newswire reported on August 18, 2026 that JLL Income Property Trust completed its 20th full-cycle UPREIT transaction in its DST platform — a structure that moves DST investors into REIT operating-partnership units — reaching approximately $1.5 billion in completed transactions. Those reports concern the platform overall and do not name JLLX Diversified 11, whose own exit terms would be set out in its PPM.