# EDGAR Filing Document

**Accession Number:** 0001314152
**File Stem:** 0001314152-23-000020
**Filing Date:** 2023-3
**Character Count:** 11868
**Document Hash:** a58f9818f503c974670a4de1475b9e12
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001314152-23-000020.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0001314152-23-000020

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230308

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JLL Income Property Trust, Inc.
- **CENTRAL INDEX KEY:** 0001314152
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-51948
- **FILM NUMBER:** 23718687

**BUSINESS ADDRESS:**
- **STREET 1:** 333 WEST WACKER DRIVE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-897-4000

**MAIL ADDRESS:**
- **STREET 1:** 333 WEST WACKER DRIVE
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Jones Lang LaSalle Income Property Trust, Inc.
- **DATE OF NAME CHANGE:** 20111114

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXCELSIOR LASALLE PROPERTY FUND INC
- **DATE OF NAME CHANGE:** 20050111

?xml version="1.0" ? jllip-20230308

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the** 

**Securities Exchange Act of 1934** 

**Date of report (Date of earliest event reported) March 8, 2023**

**JLL Income Property Trust, Inc.** 

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Maryland** | **000-51948** | **20-1432284** |
| **(State or other jurisdiction <br>of incorporation)** | **(Commission <br>File Number)** | |
| **333 West Wacker Drive, Chicago, IL** | **333 West Wacker Drive, Chicago, IL** | **(IRS employer <br>Identification No.)**<br>**60606** |
| **(Address of principal executive offices)** | **(Address of principal executive offices)** | **(Zip Code)** |
| **Registrant's telephone number, including area code: (312) 897-4000** | **Registrant's telephone number, including area code: (312) 897-4000** | **Registrant's telephone number, including area code: (312) 897-4000** |
| **N/A** | **N/A** | **N/A** |
| **(Former name or former address, if changed since last report)** | **(Former name or former address, if changed since last report)** | **(Former name or former address, if changed since last report)** |

---

Securities registered pursuant to Section 12(b) of the Act: None

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 7.01 - Regulation FD Disclosure.**

On March 8, 2023, JLL Income Property Trust (the "Company") issued a press release announcing that on March 7, 2023, its Board of Directors declared a dividend for the first quarter of 2023 of $0.145 per share, a 3.6% increase from the prior quarter's $0.14 per share. This represents the eighth dividend increase since the Company's inception in 2012, and will be the 45th consecutive quarterly dividend paid to its stockholders.

The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

The information in this Current Report is furnished pursuant to Item 7 and shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. This information will not be deemed an admission as to the materiality of any information contained herein that is required to be disclosed solely by Regulation FD.

**Item 9.01 - Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| **<u>Exhibit Number</u>** | **<u>Description</u>** |
| <u>[99.1](jlliptpressrelease-jllipti.htm)</u> | Press release issued by JLL Income Property Trust on March 8, 2023 announcing the declaration of a dividend for the first quarter of 2023. |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| JLL INCOME PROPERTY TRUST, INC. | JLL INCOME PROPERTY TRUST, INC. |
| By: | /s/ Gregory A. Falk |
|  | Name: Gregory A. Falk |
|  | Title: Chief Financial Officer and Treasurer |

---

Date: March 9, 2023

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**EXHIBIT INDEX**

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| | |
|:---|:---|
| **<u>Exhibit Number</u>** | **<u>Description</u>** |
| 99.1 | Press release issued by JLL Income Property Trust on March 8, 2023 announcing the declaration of a dividend for the first quarter of 2023. |

---

## Exhibit 99.1

Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![image_0a.jpg](image_0a.jpg)

**JLL Income Property Trust** 

**Increases Quarterly Dividend for Eighth Time**

**Chicago** (March 8, 2023) – JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: <u>ZIPTAX</u>; <u>ZIPTMX</u>; <u>ZIPIAX</u>; <u>ZIPIMX</u>) with more than $7.1 billion in portfolio assets, announced that on March 7, 2023, its Board of Directors declared a dividend for the first quarter of 2023 of $0.145 per share, a 3.6% increase from the prior quarter's $0.14 per share. This represents the eighth dividend increase since JLL Income Property Trust's inception in 2012, and will be the 45<sup>th</sup> consecutive quarterly dividend paid to its stockholders.

The quarterly dividend is payable on or around March 31, 2023 to stockholders of record as of March 24, 2023. On an annualized basis, this gross distribution is equivalent to $0.58 per share and represents a yield of approximately 4.1% on a NAV per share of $14.13 for the M-I share class as of February 28, 2023. All stockholders will receive $0.145 per share less applicable share class specific fees and the annualized yield will differ based on the share class.

"We are pleased to provide continued growth in the current yield to our stockholders through our eighth dividend increase in over 10 years," said Allan Swaringen, President and CEO of JLL Income Property Trust. "We had strong annualized performance of 10% in 2022, of which 3.9% consisted of current income. As our stockholders and their advisors look to combat the current inflationary environment, dividend growth is how we deliver the inflation hedging benefits of core real estate."

A fourth quarter dividend of $0.14 per share, less applicable share class specific fees, was paid according to the table below on December 30, 2022 to stockholders of record as of December 23, 2022. Any future dividends will be approved at the discretion of the Board of Directors.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | M-I Share | A-I Share<sup>1</sup> | M Share<sup>2</sup> | A Share<sup>3</sup> |
| Q4 Quarterly Gross Dividend per Share | $0.14000 | $0.14000 | $0.14000 | $0.14000 |
| Less: Dealer Manager Fee per Share | - | $0.00901 | $0.01034 | $0.02796 |
| Q4 Quarterly Net Dividend per Share | $0.14000 | $0.13099 | $0.12966 | $0.11204 |
| NAV per Share as of December 31, 2022 | $14.38 | $14.40 | $14.39 | $14.37 |
| Annualized Net Dividend Yield Based on NAV as of December 31, 2022 | 3.9% | 3.6% | 3.6% | 3.1% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1.A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class A-I stockholders daily and reduces the quarterly dividend paid.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2.A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class M stockholders daily and reduces the quarterly dividend paid.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3.A dealer manager fee equal to 1/365th of 0.85% of NAV is allocated to Class A stockholders daily and reduces the quarterly dividend paid.*

Internal

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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.

For more information on JLL Income Property Trust, please visit our website at <u>www.jllipt.com</u>.

###

**About JLL Income Property Trust, Inc.** (NASDAQ: <u>ZIPTAX</u>; <u>ZIPTMX</u>; <u>ZIPIAX</u>; <u>ZIPIMX</u>)

JLL Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office 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. For more information, visit <u>www.jllipt.com</u>.

**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 $78.5 billion of assets in private and public real estate property and debt investments as of December 31, 2022. 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. For more information please visit **<u>http://www.lasalle.com</u>**, and **<u>LinkedIn</u>**.

***Forward Looking Statements and Future Results***

*This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.*

**Contacts:**

Scott Sutton

LaSalle Investment Management

Telephone: +1 224 343 5538

Email:&nbsp;&nbsp;&nbsp;&nbsp;<u>scott.sutton@lasalle.com</u> 

Internal

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Doug Allen

Dukas Linden Public Relations

Telephone: +1 646 722 6530

Email: JLLIPT@DLPR.com

Internal