Sell JLL Income Property Trust Shares

Investment Overview

JLL Income Property Trust

JLL Income Property Trust, Inc. ("JLL IPT") is a public, non-listed real estate investment trust advised by LaSalle Investment Management, Inc., an affiliate of JLL.

The company operates as a daily NAV REIT and owns a diversified portfolio of income-producing residential, industrial, grocery-anchored retail, healthcare, office, and other real estate investments.

JLL IPT shares are not listed for trading on a national securities exchange. Instead, the company calculates net asset value on an ongoing basis and maintains a share repurchase plan that may provide company-sponsored liquidity, subject to holding periods, quarterly limits, available liquidity, and board discretion.

Because the shares do not trade on a public exchange, investors considering liquidity should evaluate the company’s current repurchase activity, share class, purchase date, NAV, transferability, portfolio fundamentals, and potential secondary market options for non-traded REIT shares.

Investment Snapshot

JLL Income Property Trust At A Glance

Portfolio

A Diversified
Core Real Estate Portfolio

JLL Income Property Trust owns a diversified portfolio designed to generate income across multiple real estate sectors.

The company’s portfolio includes residential, industrial, grocery-anchored retail, healthcare, office, private real estate debt, and other investments.

JLL’s July 31, 2026 portfolio information reported approximately 142 properties totaling roughly 24.1 million square feet and approximately $7.0 billion of total asset value at fair value.

The reported sector allocation was approximately 39% industrial, 35% residential, 12% grocery-anchored retail, 10% healthcare, 2% office, 1% private real estate debt, and 1% other investments.

The portfolio was approximately 95% leased. Occupancy, tenant quality, lease duration, property-level operating performance, capital expenditures, financing conditions, and real estate market values can all affect NAV and shareholder liquidity expectations.

Net Asset Value

Understanding
JLL Income Property Trust NAV

JLL Income Property Trust calculates NAV on an ongoing basis and publishes per-share NAV information for its publicly offered share classes.

As of August 12, 2026, JLL IPT reported total company NAV across all share classes of approximately $2.30 billion.

Daily NAV is an important reference because purchases and company repurchases generally occur based on the applicable class NAV in effect under the company’s governing documents.

However, company NAV should not be assumed to represent the amount an investor would necessarily receive in a separately negotiated private transaction.

A private purchaser may consider current NAV together with expected holding period, portfolio performance, leverage, transaction size, transferability, liquidity risk, share class, and prevailing buyer demand.

Share Repurchase Plan

How The JLL IPT
Repurchase Plan Works

JLL Income Property Trust maintains a share repurchase plan that can provide company-sponsored liquidity for eligible shareholders.

Under the plan effective March 20, 2026, shares are generally not eligible for repurchase during the first year after purchase, except in certain situations involving the death or disability of a shareholder.

Shares acquired through the company’s distribution reinvestment plan are generally not subject to the one-year holding period.

Repurchases are limited during any calendar quarter to approximately 5% of the combined NAV of all share classes as of the end of the prior quarter. This results in a maximum of approximately 20% of total NAV over a 12-month period, assuming the company elects to use the full available capacity.

The company is not obligated to repurchase shares and may repurchase fewer shares than requested, or none at all, if liquidity conditions or other considerations make doing so inappropriate.

If requests exceed available capacity, repurchases may be limited or allocated pro rata. The board may also modify, suspend, or terminate the plan.

2026 Repurchase Activity

Recent JLL IPT
Share Repurchases

JLL Income Property Trust has continued to process substantial shareholder repurchase requests during 2026.

During January 2026, the company redeemed approximately 2.58 million shares for approximately $29.1 million and reported that it honored 100% of eligible repurchase requests received.

During April 2026, JLL IPT redeemed approximately 2.31 million shares for approximately $26.0 million.

For April and May combined, the company redeemed approximately 4.34 million shares for approximately $48.8 million and again reported that it honored 100% of eligible requests received.

During July 2026, JLL IPT redeemed approximately 1.80 million shares for approximately $20.3 million.

For the period from July 1 through August 31, 2026, the company redeemed approximately 4.41 million shares for approximately $49.7 million and reported that it honored 100% of all eligible redemption requests received during that period.

This recent fulfillment history is relevant to shareholders evaluating liquidity, but it should not be interpreted as a guarantee that all future requests will be satisfied.

Distributions

JLL IPT
Monthly Distributions

JLL Income Property Trust transitioned from quarterly to monthly distributions during 2026.

Beginning in the second quarter of 2026, the board declared monthly gross distributions of $0.0525 per share.

The July 2026 gross distribution was also $0.0525 per share. On an annualized basis, that amount is equivalent to approximately $0.63 per share.

Shareholders may receive different net distribution amounts depending on the applicable share class and any class-specific servicing fees.

For the six months ended June 30, 2026, the company reported approximately $87.7 million of total distributions, including approximately $52.0 million paid or payable in cash and approximately $35.7 million reinvested through the distribution reinvestment plan.

2026 Financial Update

Recent Financial
Condition And Performance

As of June 30, 2026, JLL Income Property Trust reported approximately $5.51 billion of total assets and approximately $3.53 billion of total liabilities on its consolidated balance sheet.

Total equity was approximately $1.86 billion.

For the six months ended June 30, 2026, the company reported approximately $240.5 million of total revenues, compared with approximately $214.1 million during the same period in 2025.

Net income for the first six months of 2026 was approximately $36.4 million, compared with a net loss of approximately $10.5 million during the first six months of 2025.

The company also completed real estate dispositions during the period, reporting approximately $150.3 million of proceeds from property sales and approximately $43.5 million of proceeds from the sale of unconsolidated real estate interests.

Debt And Liquidity

Debt May Influence
NAV And Shareholder Liquidity

As of June 30, 2026, JLL Income Property Trust reported approximately $1.85 billion of consolidated debt before certain debt discounts and issuance-cost adjustments.

The reported net carrying amount of mortgage notes and other debt payable was approximately $1.82 billion.

The company also uses interest-rate protection agreements on a substantial portion of its variable-rate debt.

Interest rates, refinancing conditions, property values, asset dispositions, operating cash flow, and access to credit can affect both NAV and the company’s ability to maintain liquidity for shareholder repurchases.

JLL IPT has stated that repurchase requests may ultimately be funded from available cash, proceeds from new share sales, operating cash flow, liquid investments, borrowings, or asset dispositions.

Secondary Market

Can JLL Income Property Trust
Shares Be Sold?

Potentially. JLL Income Property Trust shares are not listed on a national securities exchange, so shareholders generally cannot place a conventional public-market sell order.

The company’s share repurchase plan has recently provided substantial liquidity to eligible investors, but shareholders may not always qualify because of holding periods, capacity limits, account circumstances, or future changes to the plan.

Depending on transferability and available buyer demand, certain JLL IPT positions may also be evaluated for a private secondary market transaction.

A private secondary market transaction would be separate from the company’s repurchase plan and could involve different pricing, eligibility requirements, documentation, transfer procedures, and timing.

Investors who want additional background can review AIL’s guide to the non-traded REIT secondary market.

Valuation Considerations

What May Affect
JLL IPT Share Value?

Current NAV

JLL IPT’s daily NAV provides an important company valuation reference and is used in connection with purchases and repurchases under the company’s program.

Share Class

JLL Income Property Trust has multiple share classes with different fee structures and per-share NAVs. The specific share class should therefore be confirmed when evaluating a shareholder position.

Repurchase Availability

Recent eligible repurchase requests have been fully honored, but the program remains subject to quarterly limits, holding periods, liquidity availability, and board discretion.

Portfolio Performance

Occupancy, rent growth, tenant quality, property values, operating expenses, capital expenditures, and sector-specific real estate conditions may influence NAV and buyer expectations.

Debt And Interest Rates

Approximately $1.85 billion of consolidated debt was outstanding as of June 30, 2026. Financing costs, loan maturities, hedging arrangements, and refinancing conditions may influence future portfolio value.

Distributions

Current monthly distributions may affect investor demand. Future distributions remain subject to board approval and the company’s operating and financial performance.

Secondary Market Demand

A private buyer may consider share class, position size, holding period, transferability, NAV, expected future liquidity, and required investment return when determining a potential transaction price.

Investors seeking additional context on how privately negotiated prices can differ from NAV can review AIL’s guide on how to sell a non-traded REIT.

Documentation

Information Commonly
Requested For Review

A recent account statement is generally the most useful starting point when reviewing a JLL Income Property Trust position.

The statement can help confirm the share class, number of shares, purchase history, account registration, custodian, and ownership structure.

Additional documentation may be needed for shares held through an IRA, trust, estate, partnership, LLC, or other entity.

Transfer forms, ownership verification, tax documentation, or other records may also be required if a potential secondary market transaction moves forward.

Marketability Assessment

What Determines Whether
A JLL IPT Position Can Be Reviewed?

Not every JLL Income Property Trust position will necessarily require or qualify for a private secondary market transaction.

Shareholders who satisfy the company’s holding-period requirements may first evaluate the issuer’s repurchase plan, particularly while eligible requests continue to be honored.

A private liquidity review may become more relevant when an investor is not eligible for the company program, seeks a different transaction structure, encounters future repurchase limitations, or wants to evaluate available alternatives.

Marketability may depend on share class, holding period, ownership registration, position size, transferability, available documentation, current company procedures, NAV, and buyer demand.

Confidential Investment Review

Evaluate Your JLL IPT
Liquidity Options

Alternative Investment Liquidity reviews JLL Income Property Trust positions on a case-by-case basis to help determine what liquidity pathways may currently be available.

A review can consider share class, purchase date, ownership structure, current repurchase eligibility, NAV, documentation, transferability, and potential secondary market demand.

Requesting a review does not obligate an investor to sell.

Investors, trustees, estate representatives, attorneys, financial professionals, and other authorized representatives can request a Confidential Investment Review.

Source References

Current JLL IPT
Research Sources

This profile incorporates information from JLL Income Property Trust’s 2026 SEC filings, prospectus supplements, share repurchase plan, quarterly financial statements, and issuer portfolio and distribution disclosures.

Key 2026 source materials include the company’s Form 10-Q for the quarter ended June 30, 2026, the share repurchase plan effective March 20, 2026, and prospectus supplements reporting repurchase activity through August 31, 2026.