Top1031
JLLX Reserve at Venice, DST
in North Venice, FL · sponsored by JLL Exchange (JLLX)
Historical · convertedConverted into REIT units (721 exchange) Apr 2024, as reported by JLL Exchange (JLLX) · last Form D Apr 26, 2022Sponsor source (opens in a new tab)
JLLX Reserve at Venice, DST, sponsored by JLL Exchange (JLLX), filed its first Form D with the SEC on Mar 1, 2022 for a $51.6 million offering. Converted into REIT units (721 exchange) Apr 2024, 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) Apr 2024.
- Equity multiple
- 0.75× as reported by the sponsor
- Date
- Apr 17, 2024
- Held
- 2.5 years
Key facts
- Minimum investment
- $75,000From the Form D
- Offering size
- $51,606,848Equity offered, per the Form D
- Sold
- 94.3%Form D, Apr 26, 2022; the % is our arithmetic
- Investors reported
- Form D, Apr 26, 20228
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,612,478 · 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 Reserve at Venice, DST. Top1031 is not a broker-dealer.JLLX Reserve at Venice, DST · North Venice, FL · Photo: summit-contracting.com
What did JLLX Reserve at Venice, DST own?
- Reported location
- North Venice, FL
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 Apr 2024
Costs and terms from the Form D
- Selling commissions
- $3,612,478 · 6.9% 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
- 2 named in the Form D
Show the firms
- LaSalle Investment Management Distributors, LLC · CRD 157625
- Morgan Stanley · CRD 149777
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Mar 10, 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.
Who's behind JLLX Reserve at Venice, DST?
- Sponsor
- Offerings on record
What does the SEC record show?
- Legal Trust name
- JLLX Reserve at Venice, DST
- SEC CIK
- 1913996
- First Form D
- Mar 1, 2022
- Latest Form D
- Apr 26, 2022
- Filings on record
- 3
- 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 | $51,606,848 | $48,675,838+$47,675,838 | 8+7 | EDGAR | |
| Form D (new notice) | $51,606,848 | $1,000,000 | 1 | EDGAR | |
| Form D | $51,606,848 | $0 | 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 Reserve at Venice, DST?
- JLLX Reserve at Venice, DST is a Historical offering. Converted into REIT units (721 exchange) Apr 2024, as reported by JLL Exchange (JLLX).
- Did JLLX Reserve at Venice, DST convert into REIT units through a 721 exchange?
- Converted into REIT units (721 exchange) Apr 2024, 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
In the news
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.