Top1031

JLLX Friendship Distribution, DST

in Buford, GA · sponsored by JLL Exchange (JLLX)

Historical · convertedConverted into REIT units (721 exchange), as reported by JLL Exchange (JLLX) · last Form D Jul 6, 2023Sponsor source (opens in a new tab)

JLLX Friendship Distribution, DST, sponsored by JLL Exchange (JLLX), filed its first Form D with the SEC on Apr 25, 2022 for a $62.9 million offering. Converted into REIT units (721 exchange), as reported by JLL Exchange (JLLX).

How it ended

Moved into a REIT, per the REIT's SEC filing

Converted into REIT units (721 exchange).

Equity multiple
0.84× as reported by the sponsor
Held
1.3 years

Sponsor document (opens in a new tab)

JLL Exchange (JLLX) has 4 active offerings on record →

Key facts

Minimum investment
$75,000
From the Form D
Offering size
$62,978,850
Equity offered, per the Form D
Sold
89.9%
Form D, Jul 6, 2023; the % is our arithmetic
Investors reported
42
Form D, Jul 6, 2023
Selling commissions
$4,408,520 · 7.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: JLLX Friendship Distribution, DST. Top1031 is not a broker-dealer.

What did the Trust own?

Reported location
Buford, GA

How was it financed, and what did it cost to sell?

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.
Converted to a REIT (721)
Yes: converted into REIT units
Sponsor document

Costs and terms from the Form D

Selling commissions
$4,408,520 · 7.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$5,292,350 · 8.4% of offering
Form D Item 16
Broker-dealers named in the Form D
10 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Apr 11, 2022
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.

What does the SEC record show?

Legal Trust name
JLLX Friendship Distribution, DST
SEC CIK
1925102
First Form D
Apr 25, 2022
Latest Form D
Jul 6, 2023
Filings on record
8
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$62,978,850
$56,624,438
42
EDGAR
Form D/A$62,978,850
$56,624,438+$3,396,904
42+5
EDGAR
Form D/A$62,978,850
$53,227,534−$2,347,956
37
EDGAR
Form D/A$62,978,850
$55,575,490+$4,069,109
37+3
EDGAR
Form D/A$62,978,850
$51,506,381+$6,201,118
34+7
EDGAR
Form D/A$62,978,850
$45,305,263+$43,705,263
27+26
EDGAR
Form D/A$62,978,850
$1,600,000
1
EDGAR
Form D$62,978,850
$1,600,000
1
EDGAR

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 Friendship Distribution, DST?
JLLX Friendship Distribution, DST is a Historical offering. Converted into REIT units (721 exchange), as reported by JLL Exchange (JLLX).
Did JLLX Friendship Distribution, DST convert into REIT units through a 721 exchange?
Converted into REIT units (721 exchange), as reported by JLL Exchange (JLLX). In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
How a DST-to-721 UPREIT exit works

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.