JLLX Villas at Legacy, DST reached full cycle on April 17, 2024, when the Trust's property was contributed to JLL Income Property Trust in exchange for operating-partnership units. JLL Exchange (JLLX), the Sponsor, announced the completed roll in a press release dated that day.
The terms below are as stated in the Trust's Form D.
Field | As filed / on record |
|---|---|
Trust | JLLX Villas at Legacy, DST |
Sponsor | JLL Exchange (JLLX) |
First Form D filing | February 19, 2021 |
Exemption | 506(b) |
Offering amount | $37,513,115 |
Minimum investment | $500,000 |
Asset class as filed | Other Real Estate |
Disposition | Section 721 UPREIT roll into JLL Income Property Trust |
Disposition date | April 17, 2024 |
Hold period | 3.2 years, from first Form D filing to disposition |
The sponsor's release characterizes the roll as delivering a premium of operating-partnership unit value to investors' original invested amount. That characterization is the extent of the disclosed result. No disposition value for the property, no total return, no annualized return and no equity multiple appears on the record for this Trust. Distribution terms sat in the private placement memorandum rather than the Form D, and the Form D carries no performance figures. It also names no property and gives no address.
The hold period is computed from the first Form D filing to the disposition date. It is not any investor's holding period: the filing does not disclose when the offering closed or when individual subscriptions were accepted.
This is the sixth offering Top1031 records as full cycle for JLL Exchange. Five preceded it.
From the roll forward, the property's performance sits inside JLL Income Property Trust's portfolio reporting, and for holders who received units the position is measured in units of a REIT operating partnership rather than in a single property. The Trust's own record ends there.