On April 11, 2023, JLL Income Property Trust acquired the medical office building held by JLLX SJC Medical Office, DST in a Section 721 UPREIT transaction, completing the trust's full cycle. The Delaware Statutory Trust (DST) reached that exit as part of JLLX Diversified I, DST, the program combining San Juan Medical Center and Mason Hill Distribution Center, per the sponsor's April 11, 2023 release.
The filing itself describes no property. It records the asset class as Other Real Estate and states the ceiling and the minimum investment; there is no address, no square footage, no lease terms and no distribution terms in it. Whatever the offering documents said about the building and the income it was structured to pay is not in the public filing record.
Item | On the record |
|---|---|
Sponsor | JLL Exchange (JLLX) |
First Form D | |
Exemption | 506(b) |
Offering ceiling | $14,488,691 |
Minimum investment | $219,373 |
Exit type | Section 721 UPREIT roll (contribution to a REIT for operating-partnership units) |
Exit date | April 11, 2023 |
Hold period, first Form D to roll | 2.4 years |
Disposition value | not stated |
The reported result belongs to the pair, not to this trust alone. Nothing in the record breaks out a figure for the medical office standing on its own; the sponsor reports the outcome for JLLX Diversified I, DST as a whole, an average annualized return of approximately 27%, as reported by the sponsor in that April 11, 2023 release.
The release reports three full cycle transactions completed that day, and this medical office was among them.