JLLX Reserve at Venice, DST reached full cycle on April 17, 2024. JLL Income Property Trust acquired the property in a Section 721 UPREIT roll, the structure in which interests in a Delaware Statutory Trust (DST) are contributed to a REIT's operating partnership in exchange for units rather than sold for cash.
The property appears in the JLL Income Property Trust portfolio, and a JLL Exchange educational brochure identifies the Trust as "a prior DST offering of the Sponsor." Those two records are what place the disposition on the public record. The Trust's own filing names no property and states no purchase price.
The offering as filed | |
|---|---|
Trust | JLLX Reserve at Venice, DST |
Sponsor | JLL Exchange (JLLX) |
First Form D | March 1, 2022 |
Exemption claimed | 506(b) |
Amount registered on the Form D | $51,606,848 |
Minimum investment | $75,000 |
Asset class as filed | Other Real Estate |
No total return, annualized return, equity multiple, or disposition value for this Trust appears on the public record. The Form D carries no performance figures, and the private placement memorandum, which would state the distribution terms, is not public. The exit type and the dates are what the record establishes.
This is the sixth JLL Exchange offering Top1031 records as having reached full cycle.