Top1031

JLLX Penfield, DST

in Saint Paul, MN · sponsored by JLL Exchange (JLLX)

Historical · convertedConverted into REIT units (721 exchange), as reported by JLL Exchange (JLLX) · last Form D Nov 12, 2021Sponsor source (opens in a new tab)

JLLX Penfield, DST, sponsored by JLL Exchange (JLLX), filed its first Form D with the SEC on Dec 29, 2020 for a $40.3 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
0.78× as reported by the sponsor
Held
3.9 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
$40,335,758
Equity offered, per the Form D
Sold
95.1%
Form D, Nov 12, 2021; the % is our arithmetic
Investors reported
22
Form D, Nov 12, 2021
Selling commissions
$2,823,504 · 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 Penfield, DST. Top1031 is not a broker-dealer.

What did JLLX Penfield, DST own?

Reported location
Saint Paul, MN

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
$2,823,504 · 7.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$302,518 · 0.7% of offering
Form D Item 16
Broker-dealers named in the Form D
5 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Dec 15, 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.

What does the SEC record show?

Legal Trust name
JLLX Penfield, DST
SEC CIK
1832909
First Form D
Dec 29, 2020
Latest Form D
Nov 12, 2021
Filings on record
2
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 soldInvestorsMinimum
Form D/A$40,335,758
$38,385,744+$37,270,470
22+21
$75,000was $500,000EDGAR
Form D$40,335,758
$1,115,274
1
$500,000EDGAR

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 Penfield, DST?
JLLX Penfield, DST is a Historical offering. Converted into REIT units (721 exchange), as reported by JLL Exchange (JLLX).
Did JLLX Penfield, 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.