JLL Income Property Trust Announces Tax Treatment of 2018 Distributions – Wire Real Estate

JLL Income Property Trust Announces Tax Treatment of 2018 Distributions




Mar 11, 2019

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CHICAGO, — JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), today announced the income tax treatment of its 2018 dividends. For the tax year ended December 31, 2018, dividend tax reporting will show 0.08% ordinary dividend (box 1a and 5) and 99.92% will qualify as non-dividend distribution or return of capital (box 3).

“Investment performance is the most important measure of our success and for 2018 we are pleased to report net of fee returns between 7.4% to 8.3%, depending upon the stockholders’ share class.  We also strive to maximize the tax efficiency of our investments, and for the seventh year in a row, we delivered highly tax efficient distributions to our stockholders,” said Allan Swaringen, President and CEO of JLL Income Property Trust.  “Our primary investment objectives remain durability of dividend distributions and preservation of invested capital, however we also strive to be a source of longer-term tax-advantaged income for stockholders.  Additionally, the recent Tax Cuts and Jobs Act provides substantial tax savings to investors that own REIT shares directly making an investment in our program even more compelling for investors.”

The table below summarizes the income tax treatment of distributions paid to Class A stockholders during the year ended December 31, 2018:

Record 
Date

 

Payment 
Date

 

Net 
Distribution 
per share (1)

 

Ordinary Income

 

Capital Gain 
Income

 

Return of Capital

 

Section 199A 
Dividends (2)

12/28/2017

 

2/1/2018

 

$

0.09615

   

$

0.00008

 

0.08

%

 

$

 

%

 

$

0.09607

 

99.92

%

 

$

0.00008

 

3/28/2018

 

5/1/2018

 

0.10170

   

0.00008

 

0.08

   

 

   

0.10162

 

99.92

   

0.00008

 

6/28/2018

 

8/1/2018

 

0.10687

   

0.00009

 

0.08

   

 

   

0.10678

 

99.92

   

0.00009

 

9/27/2018

 

11/1/2018

 

0.10673

   

0.00009

 

0.08

   

 

   

0.10664

 

99.92

   

0.00009

 

Total

     

$

0.41145

   

$

0.00034

 

0.08

%

 

$

 

%

 

$

0.41111

 

99.92

%

 

$

0.00034

 
   

(1)

Distributions per share are net of dealer manager fees of 1.05% of NAV prior to April 1, 2018 and 0.85% after April 1, 2018.

(2)

Section 199A dividends represent distributions subject to the 20% reduced tax rate allowed for qualified real estate investment trust (REIT) dividends.

The table below summarizes the income tax treatment of distributions paid to Class M stockholders during the year ended December 31, 2018:

Record 
Date

 

Payment 
Date

 

Net 
Distribution 
per share (1)

 

Ordinary Income

 

Capital Gain 
Income

 

Return of Capital

 

Section 199A 
Dividends (2)

12/28/2017

 

2/1/2018

 

$

0.11655

   

$

0.00009

 

0.08

%

 

$

 

%

 

$

0.11646

 

99.92

%

 

$

0.00009

 

3/28/2018

 

5/1/2018

 

0.12175

   

0.00010

 

0.08

   

 

   

0.12165

 

99.92

   

0.00010

 

6/28/2018

 

8/1/2018

 

0.12159

   

0.00010

 

0.08

   

 

   

0.12149

 

99.92

   

0.00010

 

9/27/2018

 

11/1/2018

 

0.12149

   

0.00010

 

0.08

   

 

   

0.12139

 

99.92

   

0.00010

 

Total

     

$

0.48138

   

$

0.00039

 

0.08

%

 

$

 

%

 

$

0.48099

 

99.92

%

 

$

0.00039

 
   

(1)

Distributions per share are net of dealer manager fees of 0.30% of NAV.

(2)

Section 199A dividends represent distributions subject to the 20% reduced tax rate allowed for qualified real estate investment trust (REIT) dividends.

The table below summarizes the income tax treatment of distributions paid to Class A-I stockholders during the year ended December 31, 2018:

Record 
Date

 

Payment 
Date

 

Net 
Distribution 
per share (1)

 

Ordinary Income

 

Capital Gain 
Income

 

Return of Capital

 

Section 199A 
Dividends (2)

12/28/2017

 

2/1/2018

 

$

0.11643

   

$

0.00009

 

0.08

%

 

$

 

%

 

$

0.11634

 

99.92

%

 

$

0.00009

 

3/28/2018

 

5/1/2018

 

0.12168

   

0.00010

 

0.08

   

 

   

0.12158

 

99.92

   

0.00010

 

6/28/2018

 

8/1/2018

 

0.12163

   

0.00010

 

0.08

   

 

   

0.12153

 

99.92

   

0.00010

 

9/27/2018

 

11/1/2018

 

0.12155

   

0.00010

 

0.08

   

 

   

0.12145

 

99.92

   

0.00010

 

Total

     

$

0.48129

   

$

0.00039

 

0.08

%

 

$

 

%

 

$

0.48090

 

99.92

%

 

$

0.00039

 
   

(1)

Distributions per share are net of dealer manager fees of 0.30% of NAV.

(2)

Section 199A dividends represent distributions subject to the 20% reduced tax rate allowed for qualified real estate investment trust (REIT) dividends.

The table below summarizes the income tax treatment of distributions paid to Class M-I stockholders during the year ended December 31, 2018:

Record 
Date

 

Payment 
Date

 

Net 
Distribution 
per share (1)

 

Ordinary Income

 

Capital Gain 
Income

 

Return of Capital

 

Section 199A 
Dividends (2)

12/28/2017

 

2/1/2018

 

$

0.12364

   

$

0.00010

 

0.08

%

 

$

 

%

 

$

0.12354

 

99.92

%

 

$

0.00010

 

3/28/2018

 

5/1/2018

 

0.12867

   

0.00010

 

0.08

   

 

   

0.12857

 

99.92

   

0.00010

 

6/28/2018

 

8/1/2018

 

0.13000

   

0.00010

 

0.08

   

 

   

0.12990

 

99.92

   

0.00010

 

9/27/2018

 

11/1/2018

 

0.13000

   

0.00010

 

0.08

   

 

   

0.12990

 

99.92

   

0.00010

 

Total

     

$

0.51231

   

$

0.00040

 

0.08

%

 

$

 

%

 

$

0.51191

 

99.92

%

 

$

0.00040

 
   

(1)

Distributions per share are net of dealer manager fees of 0.05% of NAV prior to April 1, 2018.  No dealer manager fees apply after April 1, 2018.

(2)

Section 199A dividends represent distributions subject to the 20% reduced tax rate allowed for qualified real estate investment trust (REIT) dividends.

The table below summarizes the income tax treatment of distributions paid to Class D stockholders during the year ended December 31, 2018:

Record 
Date

 

Payment 
Date

 

Net 
Distribution 
per share

 

Ordinary Income

 

Capital Gain 
Income

 

Return of Capital

 

Section 199A 
Dividends (2)

12/28/2017

 

2/1/2018

 

$

0.12500

   

$

0.00010

 

0.08

%

 

$

 

%

 

$

0.12490

 

99.92

%

 

$

0.00010

 

3/28/2018

 

5/1/2018

 

0.13000

   

0.00010

 

0.08

   

 

   

0.12990

 

99.92

   

0.00010

 

6/28/2018

 

8/1/2018

 

0.13000

   

0.00010

 

0.08

   

 

   

0.12990

 

99.92

   

0.00010

 

9/27/2018

 

11/1/2018

 

0.13000

   

0.00010

 

0.08

   

 

   

0.12990

 

99.92

   

0.00010

 

Total

     

$

0.51500

   

$

0.00040

 

0.08

%

 

$

 

%

 

$

0.51460

 

99.92

%

 

$

0.00040

 
   

(2)

Section 199A dividends represent distributions subject to the 20% reduced tax rate allowed for qualified real estate investment trust (REIT) dividends.

The dollar amount reported on each investor’s respective 1099-DIV will depend on the total amount of distributions received throughout the year which can be affected by the share class held and the length of time the shares were owned. The distribution declared on November 8, 2018, payable on or around February 1, 2019, will be a 2019 tax event and is not reflected in the 2018 tax allocation.

This release is based on the preliminary results of work on the Company’s tax filings and may be subject to adjustment. The income tax allocation for the distributions discussed above has been calculated using the best available information as of the date of the release. The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company’s distributions. Tax treatment of distributions is dependent on a number of factors and there is no guarantee that future distributions will qualify as a non-dividend distribution or return of capital.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to 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 www.jllipt.com.

About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), 
Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and retail 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 www.jllipt.com.

About LaSalle Investment Management 
LaSalle Investment Management, Inc., a member of the JLL group and advisor to JLL Income Property Trust, is one of the world’s leading global real estate investment managers with nearly 700 employees in 17 countries worldwide and approximately $60 billion of assets under management of private and public property equity and debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, endowments and private individuals from across the globe. For more information, visit www.lasalle.com.

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.

See Website: http://www.jllipt.com

Contact Information:

Matt Schuler +1 312 897 4192 matt.schuler@lasalle.com



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