The daily NAV REIT taps improving debt markets to add accretive leverage on a million-square-foot distribution center.

June 5, 2026

JLL Income Property Trust has closed a $49 million mortgage loan secured by Louisville Logistics Center, a Class A distribution facility of roughly one million square feet in the south Louisville, Kentucky market. The financing, announced on June 3, 2026, carries a five-year term and a fixed interest rate of 5.28 percent. The move advances the daily NAV REIT’s plan to layer additional accretive leverage across its portfolio to enhance forward-looking returns.

A Deliberate Leverage Strategy

The REIT, which manages approximately $6.8 billion in portfolio equity and debt investments, framed the loan as part of a measured effort to raise its loan-to-value ratio during the current phase of the real estate cycle.

Allan Swaringen, President and CEO of JLL Income Property Trust, said improving conditions in the debt capital markets following the recent repricing cycle are producing more attractive borrowing terms. He explained that those conditions open the door to adding accretive leverage on both newly acquired and existing core holdings. Swaringen characterized the gradual increase in leverage as a strategic component of the company’s business plan, noting that financing a high-quality industrial asset in an infill location should generate durable cash flow and strengthen income for investors.

Inside Louisville Logistics Center

Louisville Logistics Center is a modern cross-dock distribution center in the South Louisville industrial submarket. JLL Income Property Trust acquired the property in 2023, and the tenant has since added significant custom equipment and technology upgrades. Key advantages of the location include:

• Proximity to the region’s major air and ground distribution hubs anchored by UPS
• A convergence of major highways placing more than half of the U.S. population within a single day’s drive
• Recognition as one of the most desirable logistics sites in the central United States

Industrial Remains a Core Conviction

Industrial real estate continues to rank among the REIT’s highest-conviction sectors. As of March 31, 2026, industrial holdings represented the largest share of the $6.8 billion portfolio at 38 percent, accounting for $2.4 billion in assets across 64 properties.

Part of a Broader Debt Push

The financing extends a pattern of debt activity at the company. Earlier this year, JLL Income Property Trust closed a $1 billion credit facility backed by a ten-bank syndicate — a move it likewise tied to capitalizing on an early-stage market recovery.

JLL Income Property Trust is managed by LaSalle Investment Management, a subsidiary of JLL that oversees roughly $86.9 billion in global real estate assets across public and private equity and debt strategies as of the fourth quarter of 2025.