Top1031
JLLX Johns Creek, DST
in Johns Creek, GA · sponsored by JLL Exchange (JLLX)
Historical · convertedConverted into REIT units (721 exchange) Apr 2023, as reported by JLL Exchange (JLLX) · last Form D Nov 9, 2021Sponsor source (opens in a new tab)
JLLX Johns Creek, DST, sponsored by JLL Exchange (JLLX), filed its first Form D with the SEC on Feb 5, 2020 for a $25.5 million offering. Converted into REIT units (721 exchange) Apr 2023, as reported by JLL Exchange (JLLX).
How it ended
Moved into a REIT, value not stated
Converted into REIT units (721 exchange) Apr 2023.
- Annualized return
- 24.0% as reported by the sponsor
- Date
- Apr 11, 2023
Key facts
- Minimum investment
- $75,000From the Form D
- Offering size
- $25,554,348Equity offered, per the Form D
- Sold
- 96.5%Form D, Nov 9, 2021; the % is our arithmetic
- Investors reported
- Form D, Nov 9, 202117
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,788,803 · 6.9% of offering
- 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 →
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Ask a 1031 specialist about this recordFree. About: JLLX Johns Creek, DST. Top1031 is not a broker-dealer.What did JLLX Johns Creek, DST own?
The Reserve at Johns Creek Walk is a 210-unit apartment community in Johns Creek, Georgia, a suburb of Atlanta. 1 JLL Income Property Trust announced its purchase of the property on August 1, 2017 for about $47 million, then placed it into this Trust for exchange investors. 2 JLL Income Property Trust's 2025 annual report listed it 94% occupied at December 31, 2025. 3
- Reported location
- Johns Creek, GA
How was it financed, and what did it cost to sell?
The Trust used debt, so investor money was combined with a mortgage loan rather than buying the property all cash. After the 721 exchange, JLL Income Property Trust's filings list a loan on the property maturing December 1, 2029. 4
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- Converted to a REIT (721)
- Yes: converted into REIT units Apr 2023
Costs and terms from the Form D
- Selling commissions
- $1,788,803 · 6.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $515,494 · 2.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 5 named in the Form D
Show the firms
- Commonwealth Financial Network · CRD 8032
- DAI Securities, LLC · CRD 36673
- LaSalle Investment Management Distributors, LLC · CRD 157625
- Morgan Stanley · CRD 149777
- Realized Financial, Inc. · CRD 22333
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jan 21, 2020
- 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 Johns Creek, DST?
JLL Exchange is the 1031 exchange arm of JLL Income Property Trust, which buys DST properties into its REIT portfolio in exchange for partnership interests. 6 The Trust's Form D names JLL Exchange TRS, LLC as sponsor and LaSalle Investment Management, Inc. as manager and signatory trustee. 5 On April 11, 2023, JLL Income Property Trust reported three completed full-cycle DST transactions, including Johns Creek, with a sponsor-calculated average annualized return of about 24% on this one. 6
- Sponsor
- Offerings on record
What does the SEC record show?
The offering reported its first sale on January 21, 2020. 5 A single amendment followed, updating the offering totals and reporting a minimum investment of $75,000, down from the $500,000 in the original filing. It was sold privately to accredited investors, those meeting SEC income or net worth tests.
- Legal Trust name
- JLLX Johns Creek, DST
- SEC CIK
- 1795889
- First Form D
- Feb 5, 2020
- Latest Form D
- Nov 9, 2021
- Filings on record
- 2
- 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 | Minimum | Filing on SEC EDGAR |
|---|---|---|---|---|---|---|
| Form D/A | $25,554,348 | $24,677,726+$23,640,492 | 17+15 | $75,000was $500,000 | EDGAR | |
| Form D | $25,554,348 | $1,037,234 | 2 | $500,000 | 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 Johns Creek, DST?
- JLLX Johns Creek, DST is a Historical offering. Converted into REIT units (721 exchange) Apr 2023, as reported by JLL Exchange (JLLX).
- Did JLLX Johns Creek, DST convert into REIT units through a 721 exchange?
- Converted into REIT units (721 exchange) Apr 2023, 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
- What property did JLLX Johns Creek, DST own?
- It owned the Reserve at Johns Creek Walk, a 210-unit apartment community in Johns Creek, Georgia, north of Atlanta. The community's own website gives the address as 6215 Johns Creek Commons, Johns Creek, GA 30097. JLL Income Property Trust announced its purchase of the property on August 1, 2017 for approximately $47 million.
- How did this Trust end for investors?
- It ended in a Section 721 UPREIT. On April 11, 2023, JLL Income Property Trust announced it had acquired the Reserve at Johns Creek Walk from the DST and exchanged investors' DST interests for partnership interests in its diversified REIT portfolio. A 721 exchange swaps a property interest for REIT operating partnership units on a tax-deferred basis, and those units are no longer eligible for a future 1031 exchange.
- Who paid the rent at this property?
- There was no single corporate tenant. The asset is an apartment community, so rent came from individual residents living in its 210 units. With residential property, the owner rather than a tenant bears property operating costs, and income moves with occupancy and local rents.
- Was the Trust financed with a loan?
- Yes, the Trust was leveraged, meaning investor equity was paired with mortgage debt rather than owning the property free and clear. After the 721 exchange, JLL Income Property Trust's December 31, 2025 mortgage schedule lists a loan secured by the Reserve at Johns Creek maturing December 1, 2029.
- Who sponsored and managed the Trust?
- The Form D/A filed November 9, 2021 identifies JLL Exchange TRS, LLC as sponsor of the issuer and LaSalle Investment Management, Inc. as manager and signatory trustee. JLL Exchange is the 1031 exchange platform connected to JLL Income Property Trust, which acquired the property when the Trust went full cycle.
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.