JLLX Diversified III, DST
Mixed-use healthcare property · sponsored by JLL Exchange (JLLX)
Historical · soldSold Aug 2026, as reported by JLL Exchange (JLLX) · last Form D May 7, 2024Sponsor source (opens in a new tab)
JLLX Diversified III, DST was a DST sponsored by JLL Exchange (JLLX) that owned a mixed-use healthcare property. JLL Exchange (JLLX) sold the property in Aug 2026, as reported by the sponsor.
How it ended
Sold, no result reported
Sold Aug 2026.
- Date
- Aug 18, 2026
Key facts
- Minimum investment
- $75,000From the Form D
- Offering size
- $95,916,712Equity offered, per the Form D
- Sold
- 92.4%Form D, May 7, 2024; the % is our arithmetic
- Investors reported
- Form D, May 7, 202481
- Selling commissions
- Form D Item 15; the % is our arithmetic$6,714,170 · 7.0% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: JLLX Diversified III, DST. Top1031 is not a broker-dealer.What did JLLX Diversified III, DST own?
Both buildings came out of JLL Income Property Trust's own portfolio before being placed into the Trust. The Florham Park asset is a newly constructed medical office building of roughly 100,000 square feet leased to Summit Medical Group, announced by the REIT in a February 15, 2024 release. The Durham life-sciences space traces to two buildings the REIT announced acquiring on October 12, 2021. Public filings do not map exact street addresses to this Trust.
- Property size
- Florham Park outpatient medical (Summit Health); Durham Class A industrial/life-sciences (KBI Biopharma)
How was it financed, and what did it cost to sell?
The public record does not establish how the two properties were financed. The Form D reported the offering as equity securities and did not select debt securities, which is not the same as establishing that the buildings carry no mortgage; no lender, balance, or maturity appears in the located filings. 3
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $6,714,170 · 7.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 9 named in the Form D
Show the firms
- Concorde Investment Services, LLC · CRD 151604
- Independent Financial Group, LLC · CRD 7717
- LPL Financial LLC · CRD 6413
- LaSalle Investment Management Distributors, LLC · CRD 157625
- Merrill Lynch, Pierce, Fenner & Smith Incorporated · CRD 7691
- Morgan Stanley · CRD 149777
- RBC Capital Markets, LLC · CRD 31194
- Realized Financial, Inc. · CRD 22333
- Robert W. Baird & Co. Incorporated · CRD 8158
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Nov 30, 2023
- Minimum investment
- $75,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind JLLX Diversified III, DST?
JLL Exchange is the 1031 exchange platform through which JLL Income Property Trust places interests in properties the REIT owns. The sponsor announced this program's full subscription on June 5, 2024. 1 On August 18, 2026 it stated it had exercised its option to acquire the DST properties, completing a full-cycle 721 UPREIT — trust interests exchanged for operating units in the REIT. 2
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust filed an initial Form D in late 2023, then amended it repeatedly through the spring of 2024 as subscriptions accumulated; the final amendment landed weeks before the sponsor's full-subscription announcement, so EDGAR never recorded the closing tally. It was offered under Rule 506(b), a private placement sold to accredited investors without general advertising.
- Legal Trust name
- JLLX Diversified III, DST
- SEC CIK
- 2000285
- First Form D
- Nov 8, 2023
- Latest Form D
- May 7, 2024
- Filings on record
- 12
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $95,916,712 | $88,675,000+$2,440,861 | 81+5 | EDGAR | |
| Form D/A | $95,916,712 | $86,234,139+$2,244,604 | 76+4 | EDGAR | |
| Form D/A | $95,916,712 | $83,989,535+$3,603,297 | 72+4 | EDGAR | |
| Form D/A | $95,916,712 | $80,386,238+$9,790,794 | 68+11 | EDGAR | |
| Form D/A | $95,916,712 | $70,595,444+$16,455,463 | 57+16 | EDGAR | |
| Form D/A | $95,916,712 | $54,139,981+$9,410,803 | 41+7 | EDGAR | |
| Form D/A | $95,916,712 | $44,729,178+$14,217,846 | 34+12 | EDGAR | |
| Form D/A | $95,916,712 | $30,511,332+$15,089,177 | 22+13 | EDGAR | |
| Form D/A | $95,916,712 | $15,422,155+$10,183,150 | 9+3 | EDGAR | |
| Form D/A | $95,916,712 | $5,239,005+$3,801,782 | 6+3 | EDGAR | |
| Form D (new notice) | $95,916,712 | $1,437,223 | 3 | EDGAR | |
| Form D | $95,916,712 | $0 | EDGAR |
Show all 12 SEC Form D filings
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- What happened to JLLX Diversified III, DST?
- JLLX Diversified III, DST is a Historical offering. Sold Aug 2026, as reported by JLL Exchange (JLLX).
- Did the properties gain or lose value?
- In its August 18, 2026 filed release, JLL Income Property Trust reported that the combined portfolio experienced a $1.3 million increase in value over the hold period. That is the issuer's own figure for the completed transaction; no independent appraisal or third-party valuation is in the located public record.
- What exactly are the two properties, and where are they?
- An outpatient medical building in Florham Park, New Jersey leased to Summit Health Management, and a Class A industrial/life-sciences facility in Durham, North Carolina leased to KBI Biopharma. The located public sources establish the properties at the city, property-type, and tenant level but do not provide a trust-level mapping of exact street addresses.
- Why does the sponsor sometimes call this 'JLLX Diversified Portfolio III'?
- The issuer's August 18, 2026 release refers to the entity as JLLX Diversified Portfolio III, DST, while the Form D filings under CIK 2000285 and the June 2024 announcement use JLLX Diversified III, DST. The matching issuer, two-property description, and November 2023 to May 2024 syndication period indicate the same offering.
- Was the Trust leveraged?
- Unknown from the public record. The Form D reported equity securities only and did not select debt securities, but that disclosure does not establish that the underlying properties were free of mortgage debt. Property-level mortgage balance, lender, rate, maturity, and leverage ratio were not found in the located filings.
In the news
Sources
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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 offering documents before investing.