# EDGAR Filing Document

**Accession Number:** 0001966560
**File Stem:** 0001984855-25-000004
**Filing Date:** 2025-9
**Character Count:** 25685
**Document Hash:** 1b6ac209bcd0feeb638cbdaa7a5ae422
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001984855-25-000004.hdr.sgml**: 20250912

**ACCESSION NUMBER**: 0001984855-25-000004

**CONFORMED SUBMISSION TYPE**: D/A

**PUBLIC DOCUMENT COUNT**: 1

**ITEM INFORMATION**: Rule 506(b) provides a "safer harbor" for a private offering

**FILED AS OF DATE**: 20250912

**DATE AS OF CHANGE**: 20250912

**EFFECTIVENESS DATE**: 20250912

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JLLX Ardenwood II, DST
- **CENTRAL INDEX KEY:** 0001966560

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** D/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 021-476338
- **FILM NUMBER:** 251310663

**BUSINESS ADDRESS:**
- **STREET 1:** 333 WEST WACKER DRIVE, SUITE 2300
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-897-4000

**MAIL ADDRESS:**
- **STREET 1:** 333 WEST WACKER DRIVE, SUITE 2300
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM D

### Notice of Exempt Offering of Securities

**Notice of Amendment** (Previous Accession Number: 0001966560-23-000007)

### 1. Issuer's Identity

**CIK (Filer ID Number):** 0001966560

**Name of Issuer:** JLLX Ardenwood II, DST

**Jurisdiction of Incorporation/Organization:** DELAWARE

**Previous Names:** None

**Year of Incorporation/Organization**

- [ ] Over Five Years Ago

- [x] Within Last Five Years (Specify Year) 2023

- [ ] Yet to Be Formed

**Entity Type**

- [ ] Corporation

- [ ] Limited Partnership

- [ ] Limited Liability Company

- [ ] General Partnership

- [ ] Business Trust

- [x] Other (Statutory Trust)

### 2. Principal Place of Business and Contact Information

**Name of Issuer:** JLLX Ardenwood II, DST

**Street Address 1:** 333 WEST WACKER DRIVE, SUITE 2300

**City:** CHICAGO

**State/Province/Country:** IL

**ZIP/Postal Code:** 60606

**Phone Number of Issuer:** 312-897-4000

### 3. Related Persons

| Last Name                           | First Name   | Street Address 1                  | City    | State   |   ZIP/Postal Code | Relationship                                          | Clarification of Response   |
|:---|:---|:---|:---|:---|---:|:---|:---|
| JLL Exchange TRS, LLC               | N/A          | 333 West Wacker Drive, Suite 2300 | Chicago | IL      |             60606 | [ ] Executive Officer<br>[ ] Director<br>[x] Promoter | Sponsor of Issuer           |
| LaSalle Investment Management, Inc. | N/A          | 333 West Wacker Drive, Suite 2300 | Chicago | IL      |             60606 | [ ] Executive Officer<br>[ ] Director<br>[x] Promoter | Sponsor of Issuer           |
| Falk                                | Gregory A.   | 333 West Wacker Drive, Suite 2300 | Chicago | IL      |             60606 | [x] Executive Officer<br>[ ] Director<br>[ ] Promoter |  |

### 4. Industry Group

| | | |
|:---|:---|:---|
| [ ] Agriculture | [ ] Health Care | [ ] Retailing |
| [ ] Banking & Financial Services | [ ] Biotechnology | [ ] Restaurants |
|   [ ] Commercial Banking | [ ] Health Insurance | [ ] Technology |
|   [ ] Insurance | [ ] Hospitals & Physicians |   [ ] Computers |
|   [ ] Investing | [ ] Pharmaceuticals |   [ ] Telecommunications |
|   [ ] Investment Banking | [ ] Other Health Care |   [ ] Other Technology |
|   [ ] Pooled Investment Fund | [ ] Manufacturing | [ ] Travel |
|     [ ] Hedge Fund | [ ] Real Estate |   [ ] Airlines & Airports |
|     [ ] Private Equity Fund |   [ ] Commercial |   [ ] Lodging & Conventions |
|     [ ] Venture Capital Fund |   [ ] Construction |   [ ] Tourism & Travel Services |
|     [ ] Other Investment Fund |   [ ] REITS & Finance |   [ ] Other Travel |
|   Is the issuer registered as an investment company? <br>  [ ] Yes [ ] No |   [ ] Residential | [ ] Other |
|   [ ] Other Banking & Financial Services |   [x] Other Real Estate |  |
| [ ] Business Services |  |  |
| [ ] Energy |  |  |
|   [ ] Coal Mining |  |  |
|   [ ] Electric Utilities |  |  |
|   [ ] Energy Conservation |  |  |
|   [ ] Environmental Services |  |  |
|   [ ] Oil & Gas |  |  |
|   [ ] Other Energy |  |  |

### 5. Issuer Size

| **Revenue Range** | **OR** | **Aggregate Net Asset Value Range** |
|:---|:---:|:---|
| [ ] No Revenues | | [ ] No Aggregate Net Asset Value |
| [ ] $1 - $1,000,000 | | [ ] $1 - $5,000,000 |
| [ ] $1,000,001 - $5,000,000 | | [ ] $5,000,001 - $25,000,000 |
| [ ] $5,000,001 - $25,000,000 | | [ ] $25,000,001 - $50,000,000 |
| [ ] $25,000,001 - $100,000,000 | | [ ] $50,000,001 - $100,000,000 |
| [ ] Over $100,000,000 | | [ ] Over $100,000,000 |
| [x] Decline to Disclose | | [ ] Decline to Disclose |
| [ ] Not Applicable | | [ ] Not Applicable |

### 6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

| | | |
|:---|:---|:---|
| [ ] Rule 504(b)(1) (not (i), (ii) or (iii)) | [ ] Investment Company Act Section 3(c) |  |
| [ ] Rule 504(b)(1)(i) |   [ ] Section 3(c)(1) |  |
| [ ] Rule 504(b)(1)(ii) |   [ ] Section 3(c)(2) |   [ ] Section 3(c)(9) |
| [ ] Rule 504(b)(1)(iii) |   [ ] Section 3(c)(3) |   [ ] Section 3(c)(10) |
| [x] Rule 506(b) |   [ ] Section 3(c)(4) |   [ ] Section 3(c)(11) |
| [ ] Rule 506(c) |   [ ] Section 3(c)(5) |   [ ] Section 3(c)(12) |
| [ ] Securities Act Section 4(5) |   [ ] Section 3(c)(6) |   [ ] Section 3(c)(13) |
|  |   [ ] Section 3(c)(7) |   [ ] Section 3(c)(14) |

### 7. Type of Filing

**New Notice:** [ ] **Date of First Sale:** 2023-04-24

**Amendment:** [x]

### 8. Duration of Offering

Does the issuer intend this offering to last more than one year? [ ] Yes [x] No

### 9. Type(s) of Securities Offered

- [x] Equity
- [ ] Debt
- [ ] Option, Warrant or Other Right to Acquire Another Security
- [ ] Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security
- [ ] Pooled Investment Fund Interests
- [ ] Tenant-in-Common Securities
- [ ] Mineral Property Securities
- [ ] Other

### 10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer? [ ] Yes [x] No

### 11. Minimum Investment
**Minimum investment accepted from any outside investor:** $75000 USD

### 12. Sales Compensation

| Recipient Name                                  |   Recipient CRD Number | Associated BD Name                              | Associated BD CRD Number   | Street 1                                 | Street 2   | City               | State   | ZIP Code   | States of Solicitation   | Foreign Solicitation   |
|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| LaSalle Investment Management Distributors, LLC |                 157625 | None                                            | None                       | 333 West Wacker Drive, Suite 2300        |  | Chicago            | IL      | 60606      | All States               | [ ]                    |
| JOSEPH P WERNER                                 |                6645379 | LaSalle Investment Management Distributors, LLC | 157625                     | 333 West Wacker Drive, Suite 2300        |  | Chicago            | IL      | 60606      | All States               | [x]                    |
| PATRICK EASTER                                  |                1368137 | RBC CAPITAL MARKETS LLC                         | 31194                      | 300 West 6th Street, Suite 2200          |  | Austin             | TX      | 78701-3912 |  | [ ]                    |
| JASON MCMURTRY                                  |                2871788 | CONCORDE INVESTMENT SERVICES, LLC               | 151604                     | 100 E. San Marcos Blvd., Suite 400       |  | San Marcos         | CA      | 92069      |  | [ ]                    |
| JAMES BASHAW                                    |                1251491 | INDEPENDENT FINANCIAL GROUP, LLC                | 7177                       | 5701 Woodway Drive #330                  |  | Houston            | TX      | 77057      |  | [ ]                    |
| DANIEL RAUPP                                    |                4079107 | CONCORDE INVESTMENT SERVICES, LLC               | 151604                     | 61 Route 25A                             |  | Setauket           | NY      | 11733      |  | [ ]                    |
| SEAN WHALEN                                     |                4000934 | CONCORDE INVESTMENT SERVICES, LLC               | 151604                     | 24 Superior Dr., Suite 101               |  | Natick             | MA      | 01760      |  | [ ]                    |
| KYLE CAVANAUGH                                  |                6313953 | MORGAN STANLEY                                  | 149777                     | 15341 South 94th Avenue, Suite 200       |  | Orland Park        | IL      | 60462      |  | [ ]                    |
| MICHAEL LATIMER                                 |                2893154 | MORGAN STANLEY                                  | 149777                     | 3909 Castlevale Road, Suite 100          |  | Yakima             | WA      | 98902      | All States               | [x]                    |
| RICHARD NELSON                                  |                4320851 | MORGAN STANLEY                                  | 149777                     | 2800 Post Oak Boulevard, 18th Floor      |  | Houston            | TX      | 77056      |  | [ ]                    |
| THOMAS RISHOVD                                  |                2572728 | MORGAN STANLEY                                  | 149777                     | 225 South 6th Street                     |  | Minneapolis        | MN      | 55402      |  | [ ]                    |
| WILLIAM MUNDY                                   |                4199804 | MORGAN STANLEY                                  | 149777                     | 899 Cassatt Road, Suite 100              |  | Berwyn             | PA      | 19312      |  | [ ]                    |
| WILLIAM CHRISTIAN                               |                2930040 | ROCKEFELLER FINANCIAL LLC                       | 291361                     | 300 First Stamford Place, Suite 230      |  | Stamford           | CT      | 06902      | All States               | [x]                    |
| MARTI MARACHE                                   |                2393657 | SANCTUARY SECURITIES INC                        | 205                        | 40 Signal Rd., Suite A                   |  | Stamford           | CT      | 06902      |  | [ ]                    |
| MICHAEL EDMONDS                                 |                6233223 | MORGAN STANLEY                                  | 149777                     | 2400 Lakeview Parkway, Suite 300         |  | Alpharetta         | GA      | 30009      | All States               | [x]                    |
| SUSAN HOVANEC                                   |                1969275 | RBC CAPITAL MARKETS LLC                         | 31194                      | 2100 Pennsylvania Avenue NW, Suite 810N  |  | Washington         | DC      | 20037      |  | [ ]                    |
| EHUD GERSTEN                                    |                7066119 | EMERSON EQUITY LLC                              | 130032                     | 7750 Okeechobee Blvd, Suite 4-1294       |  | West Palm Beach    | FL      | 33411      |  | [ ]                    |
| DANIEL RUBEN                                    |                5716704 | INDEPENDENT FINANCIAL GROUP, LLC                | 7177                       | 5716 Corsa Avenue, Suite 100             |  | Westlake Village   | CA      | 91362      |  | [ ]                    |
| KELLY H CLYDE                                   |                4825839 | INDEPENDENT FINANCIAL GROUP, LLC                | 7177                       | 1520 N EL Camino Real, Unit 1            |  | San Clemente       | CA      | 92672      |  | [ ]                    |
| JASON BENTLEY                                   |                7064127 | JANNEY MONTGOMERY SCOTT LLC                     | 463                        | 12001 Old Vine Blvd., Unit #106          |  | Lewes              | DE      | 19958      |  | [ ]                    |
| KURT EVAN MEYER                                 |                1563445 | MORGAN STANLEY                                  | 149777                     | 14850 North Scottsdale Road, Suite 600   |  | Scottsdale         | AZ      | 85254      |  | [ ]                    |
| MICHAEL YEN                                     |                4248591 | MORGAN STANLEY                                  | 149777                     | 800 Newport Center Drive, Suite 500      |  | Newport Beach      | CA      | 92660      |  | [ ]                    |
| STEPHEN BARTOLI                                 |                4005464 | MORGAN STANLEY                                  | 149777                     | 214 Senate Avenue                        |  | Camp Hill          | PA      | 17011      |  | [ ]                    |
| Brian Addington                                 |                2882035 | RBC Capital Markets LLC                         | 31194                      | 345 California Street                    |  | San Francisco      | CA      | 94104-2642 |  | [ ]                    |
| Caleb Sams                                      |                7159458 | Commonwealth Financial Network                  | 8032                       | 5409 Maryland Way, Suite 110             |  | Brentwood          | TN      | 37027      |  | [ ]                    |
| Carlos Duque                                    |                5607485 | Morgan Stanley                                  | 149777                     | 6565 Americas Parkway, Suite 400         |  | Albuquerque        | NM      | 87110      |  | [ ]                    |
| Christopher Michael Vizzi                       |                5095868 | Independent Financial Group, LLC                | 7717                       | 1520 N El Comino Real, Unit 1            |  | San Clemente       | CA      | 92672      |  | [ ]                    |
| Christian Finley                                |                7036835 | Morgan Stanley                                  | 149777                     | 227 West Monroe Street, Suite 3400       |  | Chicago            | IL      | 60606      |  | [ ]                    |
| Christopher Dolt                                |                4158560 | Morgan Stanley                                  | 149777                     | 444 East Main Street, Suite 111          |  | Lexington          | KY      | 40507      |  | [ ]                    |
| David Leifer                                    |                1558612 | Morgan Stanley                                  | 149777                     | 2 North Tamiami Trail, Suite 1100        |  | Sarasota           | FL      | 34236      |  | [ ]                    |
| Ernest Dean Jr.                                 |                2223858 | Morgan Stanley                                  | 149777                     | 2 North Tamiami Trail, Suite 1100        |  | Sarasota           | FL      | 34236      |  | [ ]                    |
| Kay Pfleghardt                                  |                6225691 | Commonwealth Financial Network                  | 8032                       | 345 Woodcliff Drive, Suite 2A            |  | Fairport           | NY      | 14450      |  | [ ]                    |
| Kevin Kensinger                                 |                5859757 | Concorde Investment Services, LLC               | 151604                     | 100 E. San Marcos Blvd., Suite 400       |  | San Marcos         | CA      | 92069      |  | [ ]                    |
| Kurt Neddenriep                                 |                2723394 | Morgan Stanley                                  | 149777                     | 905 Railroad Street, Suite 102           |  | Elko               | NV      | 89801      | All States               | [x]                    |
| Matthew Lacour                                  |                5244881 | Morgan Stanley                                  | 149777                     | 850 South Palafox Street, Suite 200      |  | Pensacola          | FL      | 32502      |  | [ ]                    |
| Paul Leach                                      |                4952675 | Rockefeller Financial LLC                       | 291361                     | 2000 Avenue of the Stars, Suite 530 N    |  | Los Angeles        | CA      | 90067      |  | [ ]                    |
| Peyton Cook                                     |                5135780 | Morgan Stanley                                  | 149777                     | 5001 Spring Valley Road, Suite 900W      |  | Dallas             | TX      | 75244      |  | [ ]                    |
| Ryan Rupert                                     |                4242479 | Morgan Stanley                                  | 149777                     | 117 Herald Court, Suite 113              |  | Punta Gorda        | FL      | 33950      | All States               | [ ]                    |
| Ryan Wroblewski                                 |                6158332 | Morgan Stanley                                  | 149777                     | 855 Franklin Avenue                      |  | Garden City        | NY      | 11530      | All States               | [ ]                    |
| Zachary Sobel                                   |                4195211 | Morgan Stanley                                  | 149777                     | 3801 PGA Boulevard, Suite 700            |  | Palm Beach Gardens | FL      | 33410      |  | [ ]                    |
| ETHAN LINDBLOOM                                 |                4072349 | JANNEY MONTGOMERY SCOTT LLC                     | 463                        | 6241 River Road                          |  | Richmond           | VA      | 23219      |  | [ ]                    |
| IGNACIO MENDIVE                                 |                3261272 | MORGAN STANLEY                                  | 149777                     | One Fawcett Place, 3rd Floor             |  | Greenwich          | CT      | 06830      |  | [ ]                    |
| KEN ANDERSON                                    |                5471426 | MORGAN STANLEY                                  | 149777                     | 760 SW 9th Avenue, Suite 2100            |  | Portland           | OR      | 97205      |  | [ ]                    |
| JEREMY SUTTON                                   |                5680461 | RBC CAPITAL MARKETS LLC                         | 31194                      | 111 S Wacker Drive, Suite 3200           |  | Chicago            | IL      | 60606      |  | [ ]                    |
| AMR TENNEY                                      |                5506866 | REALIZED FINANCIAL, INC.                        | 22333                      | 400 W. 15th St., Suite 700               |  | Austin             | TX      | 78701      |  | [ ]                    |
| MCKENNA DUNCAN                                  |                7310472 | REALIZED FINANCIAL, INC.                        | 22333                      | 400 W. 15th St., Suite 700               |  | Austin             | TX      | 78701      |  | [ ]                    |
| MICHAEL PARIS                                   |                5087636 | COMMONWEALTH FINANCIAL NETWORK                  | 8032                       | 10 Cuttermill Road, Suite 302            |  | Great Neck         | NY      | 11021      |  | [ ]                    |
| MITCHELL GLICKSMAN                              |                2580633 | COMMONWEALTH FINANCIAL NETWORK                  | 8032                       | 8180 North Hayden Road, Suite D203       |  | Scottsdale         | AZ      | 85258      |  | [ ]                    |
| ROY PFLEGER II                                  |                5896655 | DAI SECURITIES LLC                              | 36673                      | 286 Main Street                          |  | E Setauket         | NY      | 11733      |  | [ ]                    |
| SAM BERARDINO III                               |                5341920 | MORGAN STANLEY                                  | 149777                     | 106 Business Park Drive                  |  | Utica              | NY      | 13502      |  | [ ]                    |
| ZAK KOFFLER                                     |                5687935 | MORGAN STANLEY                                  | 149777                     | 3280 Peachtree Road North East, Suite160 |  | Atlanta            | GA      | 30305      |  | [ ]                    |
| WADE-MCCALLA PEETE INV GROUP                    |                2601960 | RBC CAPITAL MARKETS LLC                         | 31194                      | 404 North 31st Street, Suite 300         |  | Billings           | MT      | 59101-1211 |  | [ ]                    |
| CHRISTINA NIELSON                               |                4866971 | DAI SECURITIES, LLC                             | 36673                      | 650 Town Center Drive, Suite 1400        |  | Costa Mesa         | CA      | 92626      |  | [ ]                    |
| RONALD PHILLIPS                                 |                2823393 | MORGAN STANLEY                                  | 149777                     | 1333 North California Boulevard, Suite 1 |  | Walnut Creek       | CA      | 94596      |  | [ ]                    |
| SCOTT BERK                                      |                2790714 | MORGAN STANLEY                                  | 149777                     | 111 South Pfingsten Road, Suite 200      |  | Deerfield          | IL      | 60015      |  | [ ]                    |

### 13. Offering and Sales Amounts

**Total Offering Amount:** $56,724,512 USD

**Total Amount Sold:** $56,724,512 USD

**Total Remaining to be Sold:** $0 USD

### 14. Investors

Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering: [ ] Yes [x] No

**Total Number of Investors Already Invested:** 93

### 15. Sales Commissions & Finder's Fees Expenses

Provide separately the amounts of sales commissions and finders fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.

**Sales Commissions** $3970716 USD [x] Estimate

**Finders' Fees** $0 USD

### 16. Use of Proceeds

Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters: **$4424512 USD [x] Estimate**

### Signature and Submission

Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.

**Terms of Submission**

In submitting this notice, each issuer named above is:

* Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, in the accordance with applicable law, the information furnished to offerees.

* Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated
officer of the State in which the issuer maintains its principal place of business and any State in which this notice is
filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any
notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any
Federal or state action, administrative proceeding, or arbitration brought against the issuer in any place subject to
the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in
connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or
indirectly, upon the provisions of: (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust
Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or
regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place
of business or any State in which this notice is filed.

* Certifying that, if the issuer is claiming a Regulation D exemption for the offering, the issuer is not disqualified from relying on Rule 504 or Rule 506 for one of the reasons stated in Rule 504(b)(3) or Rule 506(d).

Each issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.

For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.

| Issuer                 | Signature           | Name of Signer   | Title                              | Date       |
|:---|:---|:---|:---|:---|
| JLLX Ardenwood II, DST | /s/ Gregory A. Falk | Gregory A. Falk  | Vice President of Issuer's Manager | 2025-09-12 |

*Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.*