REAL ESTATE INVESTMENT
JLL Income Property Trust | December 08, 2021
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.5 billion in portfolio assets, today announced the acquisition of Friendship Distribution Center, a newly constructed, four-building industrial portfolio totaling nearly 650,000 square feet. The Class A properties are located in the Atlanta suburb of Buford, Georgia, home to the premier Northeast Atlanta industrial submarket. The purchase price was $95 million.
"Friendship Distribution Center's location in Atlanta's Northeast submarket, high quality new construction and proximity to irreplaceable transportation infrastructure makes this an excellent portfolio fit for us as we continue to execute on our strategy of increasing our allocation to core industrial assets,". "Given this property's strong tenant profile and exceptional location, this acquisition aligns well with our overall strategic objectives."
-Allan Swaringen, JLL Income Property Trust President and CEO
JLL Income Property Trust's aggregate industrial allocation is now over $1.6 billion of industrial holdings in 54 properties across 13 key markets, representing the second largest property type allocation in the portfolio.
Friendship Distribution Center is in an "A" location, with immediate proximity to Interstate 985, the major highway in the Northeast Atlanta submarket. Its strategic location provides access to the entire Eastern seaboard within a one to two-day drive.
Friendship Distribution Center is 96 percent leased to five tenants, with a weighted average lease term of approximately six years. According to LaSalle Research & Strategy, Atlanta is the fourth largest industrial market in the U.S. with more than 660 million square feet of space. The market set an absorption record in the second quarter of 2021 of 8.6 million square feet, bringing vacancy down to just 5 percent. The Northeast submarket specifically saw 2.1 million square feet of net absorption in the second quarter, the highest of any submarket in the Atlanta metro area, accounting for 24 percent of total absorption.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms.
About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),
Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $76 billion of assets in private and public real estate property and debt investments as of Q3 2021. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments.
REAL ESTATE TECHNOLOGY
businesswire | December 04, 2020
KKR, a main worldwide speculation firm, today declared the securing of two mechanical appropriation properties in Texas adding up to around 1.8 million square feet at a total buy cost of roughly $171 million.
The recently obtained properties are situated in the significant business sectors of Dallas and Houston. Both are best in class satisfaction focuses with a normal vintage 2019. The properties were 100% rented at securing to two distinctive speculation grade occupants on a drawn out premise. The properties were obtained from Hines, the worldwide land firm, which built up the resources.
The two properties are the most recent mechanical resources procured by KKR's center in addition to land system, developing its all out modern land portfolio to around 7.2 million square feet. Over its assets, KKR claims more than 20 million square feet of mechanical property in key areas across significant metropolitan regions in the U.S.
“As more consumers migrate to shopping online and expect a seamless delivery experience, the demand for modern logistics real estate in major markets continues to grow,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas. “We are excited to help meet that demand by increasing our footprint in the Dallas and Houston markets with the addition of these two high-quality, stable assets.”
Since dispatching a devoted land stage in 2011, KKR has developed land AUM to roughly $14 billion over the U.S., Europe and Asia as of September 30, 2020. The worldwide land group comprises of more than 90 committed venture experts, traversing both the value and credit organizations.
prnewswire | September 04, 2020
Today, a new federal eviction moratorium takes effect. Unlike the previous moratorium, it seeks to protect renters in private and publicly funded units. And it will, for now. It also makes a powerful statement about the inextricable link between housing and health, a link that should inform future decisions about housing investments. But let's be clear. This is no better than a car without wheels or a face-mask made of fishnet. At the end of the day, we are not moving forward and renters are not protected. Congress and the White House need to stop playing games and work together to approve rental assistance to help families, landlords, and, quite frankly, the entire rental market.