JLL Income Property Trust Meets 100% of October Redemptions, Adds Three Properties
A new $21.48 million mortgage note helped fund the REIT’s latest purchase, a Northborough, Massachusetts warehouse, while its two September deals were funded with cash on hand and, for the larger one, a revolver draw.
November 3, 2026
JLL Income Property Trust honored every redemption request it received in October, buying back 2,653,690 shares for approximately $29.9 million under its share repurchase plan. The daily NAV REIT also disclosed three property acquisitions completed between September 10 and October 30, two of them industrial buildings west of Boston.
Repurchases for the full fourth quarter are capped at approximately $113.7 million, equal to 5% of the NAV of all share classes as of the last business day of the third quarter. Shares cannot be redeemed during their first year of ownership except upon a stockholder's death or disability, a restriction that does not apply to shares issued through the distribution reinvestment plan.
Three Acquisitions
The largest purchase closed on September 25, when the REIT acquired Worcester Distribution Center, a 396,000-square-foot industrial property in Boylston, Massachusetts, for approximately $90.25 million. It paid with cash on hand and a draw on its revolving credit facility. In March, the REIT closed a $1 billion credit facility made up of a $600 million revolving line of credit and a $400 million term loan.
On October 30, the REIT bought West Boston Distribution Center, a 55,000-square-foot industrial property in Northborough, Massachusetts, for approximately $36 million, financed with a new $21.48 million mortgage note and cash on hand. The Northborough building is a separate asset from West Boston Medical Center, the Watertown outpatient complex the REIT acquired in March.
The third acquisition added to the REIT's healthcare holdings. On September 10, it purchased Roseville Outpatient Center, a 42,000-square-foot healthcare property in Roseville, California, for approximately $18.5 million, funded with cash on hand.
October NAV
Class A NAV per share stood at $11.27 on October 1 and $11.24 on October 30, the month's final business day. Over the same span, Class M moved from $11.28 to $11.25, Class A-I from $11.30 to $11.27, and Class M-I from $11.28 to $11.24.
All four classes stepped down on October 23 as the REIT accrued its October distribution, a gross $0.0525 per share approved by the board on October 1 for stockholders of record as of October 22. Class A held at $11.27 every business day before the accrual, sat at $11.22 from October 23 through October 29, and rose to $11.24 on the final day of the month.
