REAL ESTATE INVESTMENT

JLL Income Property Trust Acquires 4-Building Suburban Atlanta Distribution Center

JLL Income Property Trust | December 08, 2021

JLL Income Property Trust Acquires 4-Building Suburban Atlanta Distribution Center
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.

Spotlight

Introducing Blackbird, Jones Lang LaSalle's commercial real estate management software for lease management, site selection and evaluation, market intelligence.

Spotlight

Introducing Blackbird, Jones Lang LaSalle's commercial real estate management software for lease management, site selection and evaluation, market intelligence.

Related News

Lone Wolf Technologies introduces integrated cloud solutions for real estate agents, brokers, teams, franchises, MLSs, and associations

Lone Wolf Technologies | July 09, 2020

Lone Wolf Technologies ("Lone Wolf") is thrilled to announce the availability of real estate's first integrated suites of technology solutions targeted to the specific and unique needs of residential real estate stakeholders: Agent Cloud, Team Cloud, Broker Cloud, Franchise Cloud, and Organization Cloud. Each cloud solution connects real estate's leading technology in a single package and is available for purchase today through lwolf.com. "We're excited to announce the release of our cloud solutions today," said Jimmy Kelly, CEO of Lone Wolf. "The industry has long sought end-to-end solutions, but no one's been able to make it happen. We've done that, and more. By fully integrating our solutions and connecting them to some of the best tech providers in North America, we've not only delivered an end-to-end solution, but an entire suite of end-to-end solutions tailored to each stakeholder role in the industry. And we're doing it with the best tech available today, from forms, eSignature, and transaction management to back office, accounting, and insights. With Lone Wolf's clouds, it's now possible to have a complete—and completely connected—digital experience, whether you're an agent, broker, administrator, or buyer and seller. That's real estate re-imagined."

Read More

REAL ESTATE TECHNOLOGY

High-End Real Estate Reigns Supreme as the Most Lucrative Asset Class

prnewswire | November 11, 2020

While numerous sturdy businesses falter from the effect of the worldwide pandemic, the extravagance private land market keeps on indicating striking versatility. Energized by a bunch of elements - among them, a departure from high-thickness metropolitan zones to more rural, single-family home and bequest centered settings - the world's moguls (about 47 million in number) have reclassified extravagance living. These, in addition to numerous different discoveries identified with the very good quality market, are noted in The Modern Luxury Home: Reimagined - a just-delivered half-yearly investigation by Luxury Portfolio International® (LPI), as a team with YouGov Affluent Perspective. The generally adored brand, which contains in excess of 200 driving very good quality land businesses, is the extravagance showcasing division of Leading Real Estate Companies of the World®. The whitepaper separates various patterns that are presently affecting the well-to-do shopper's spending designs. The acquisition of extravagance merchandise, travel and experiential exercises, for example, have been everything except diminished by COVID-19. In any case, by that equivalent token, very good quality land has demonstrated to be amazingly versatile and more than fit for withstanding the current conditions. "Our research indicates that, while the world's high-net-worth individuals have benefited from growing valuations in financial assets, the coronavirus continues to generate tremendous uncertainty," said Mickey Alam Khan, President of Luxury Portfolio International®. "To that end, luxury real estate is proving to be an ideal investment, and consumer preparedness to purchase is very high, with many regions experiencing record sales." Extra features from the report include: Overall, is three purchasers for each two merchants, exemplified by the way that, in certain business sectors, the gracefully of single-family homes might be as low as a few months of accessible stock (12-year and a half of stock is viewed as ideal in the extravagance private land market). At this crossroads, it isn't exceptional to have various proposals on a posting, which implies that purchasers ought to be set up to have solid proposals close by. Plans to buy an essential home have moved upward during the pandemic, while plans to buy a subsequent home have been moving marginally descending - mainly because of movement limitations - while patterns to sell declined, cultivating a lack of accessible stock. To put it plainly, the report uncovers a genuine "dream market" for dealers. Of those reviewed, around 61% of wealthy purchasers and 57% of well-to-do merchants noticed that they favored eye to eye property visits with a realtor - implying that operators must be completely versed on COVID-19 conventions in their separate regions. The interest for spaces that take into account one's "self" are on the ascent, as are home rebuilds, (increases, and so forth), with 32% of those studied taking note of that they might want to revamp. Seen estimations of home highlights and comforts shift by value range: In the U.S. $1M to $1.9M territory, outside regions are sought after alongside a committed home office. As work-from-home has gotten universal, thus, as well, has the requirement for a peaceful spot to video talk and be beneficial. In the U.S. $2M to $2.9M territory, unwinding and an action room are most noteworthy popular, with extravagance property holders are utilizing health practices to battle the pressure of progress and now life at home almost all day, every day. In the U.S. $3M to $5M+ territory, checked home security (without a doubt because of the steady 'at home' status of the vast majority), and home diversion spaces are progressively searched after. Property venture is ready to develop, with 61% of those studied showing their next huge purchase will be a home-related speculation (either a buy or redesign). 20% showed that it will be a vehicle. The level of the individuals who addressed relaxation get-aways, top notch food, and top of the line design enrolled in the single digits. Despite the pandemic and ensuing lockdowns, by and large shopper trust in both the U.S. furthermore, Europe have gotten back to approach notable levels. The prosperous in Canada and China are as yet working their way back. Altogether, (66%) of the worldwide rich state certainty impacts their longing to make extravagance buys. This, obviously, is a main marker of generally speaking purchaser recuperation. "One very compelling takeaway from the survey involves the affluent consumer's confidence," concluded Alam Khan. "While most high-net-worth individuals are not only enduring, but may well be prospering through the pandemic, 80% of those surveyed noted that they were in good shape to withstand a recession. So, whether the financial headwinds are positive or negative, the affluent consumer will remain pivotal to the global economy." ABOUT LUXURY PORTFOLIO INTERNATIONAL LPI is the luxury marketing division of Leading Real Estate Companies of the World®, the largest global network of premier locally branded firms dominated by many of the world's most powerful, independent luxury brands. LPI attracts a global audience of visitors from over 200 countries/territories every month and markets more than 50,000 luxury homes annually. Well Connected.

Read More

REAL ESTATE TECHNOLOGY

Embrace Home Loans Partners with Long Island Keller Williams Offices

Embrace Home Loans | December 03, 2021

Embrace Home Loans, a top-ranked national mortgage lender, has entered into an advertising agreement with Keller Williams Core in Long Island, New York, to help its real estate agents better attract and serve local homebuyers. The Core offices in Long Island include Garden City, Woodbury, Franklin Square and Ozone Park. Through the agreement, Embrace will provide co-marketing strategies designed to educate Keller William Core's agents and help them promote their businesses to consumers. Embrace will also serve as the event sponsor of all the Keller Williams Core group's internal sales meetings, training events and webinars. Keller Williams Core will display Embrace's advertising materials in its offices, at open houses, through direct mail and email campaigns, and on its website and social media. Keller Williams Core employs more than 1,000 real estate agents and serves homebuyers and home sellers in Long Island and Manhattan. "We recognize today's consumers have an endless array of options when it comes to homebuying services, Our two companies have a very strong presence in the local Long Island market. By collaborating, we can more effectively serve homebuyers in what has become an extremely competitive marketplace." - Frank Virga, branch manager with Embrace Home Loans in Hauppauge, New York, who developed the partnership. "We are delighted to partner with Frank and the entire Embrace team, In today's housing market, giving our agents a competitive edge in communicating with new clients will help us to continue reaching new sales records." - Richard Amato, operating principal for the local Keller Williams' offices. Embrace originated $6.4 billion in mortgage loans in 2020, a company record and a 70 percent increase from 2019. The company is on track to double its retail production in 2021 and increase business in its consumer-direct and financial institutions group divisions, with a focus on purchase loans. A Fannie Mae, Freddie Mac, FHA and VA lender, Embrace also originates non-conforming loans, including jumbo and other unconventional loans. The company processes, underwrites, funds and closes all loans in-house. Embrace has been recognized with multiple workplace awards in recent years and is known for fostering a supportive, family-like work culture and for encouraging its employees' charitable endeavors. About Embrace Home Loans Founded in 1983, Embrace Home Loans is a prominent mortgage lender that provides borrowers and financial institutions with an exceptional mortgage experience. Licensed in 50 states and the District of Columbia, Embrace has been recognized seven times as one of the Best Medium-sized Companies to Work for in America by Fortune and by Inc. The company has also been recognized twelve times as one of the Best Places to Work in Rhode Island, as the Most Community Involved Company in Rhode Island, and with the Leadership Excellence Award by Providence Business News. The company is based in Middletown, Rhode Island.

Read More