Le Lézard
Classified in: Business
Subject: DIV

JLL Income Property Trust Announces Tax Treatment of 2020 Distributions


CHICAGO, Feb. 5, 2021 /PRNewswire/ -- JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $3.4 billion in portfolio assets, today announced the income tax treatment of its dividends paid in 2020. For the tax year ended December 31, 2020, approximately 57 percent of the distributions paid will qualify as non-dividend distribution or return of capital (box 3 on Form 1099) and approximately 43 percent of distributions paid will qualify as tax advantaged long-term capital gain (box 2a).

"Our primary investment objectives remain durability of dividend distributions and preservation of invested capital, and even amid the COVID-induced recession, we believe we delivered on that goal in 2020," said Allan Swaringen, President and CEO of JLL Income Property Trust. "We also strive to be a source of longer-term tax advantaged income for stockholders and for the ninth year in a row we exceeded our target tax efficiency. Further, last year we accelerated the Payment Date of our quarterly dividends and paid five distributions to stockholders who held shares throughout 2020. This resulted in an effective 5.8 percent annualized distribution yield for 2020 on our M-I share class based upon the yearend share price of $11.62, however, this will normalize to four dividend payments in 2021. Finally, the 2017 Tax Cuts and Jobs Act continues to provide substantial tax savings to REIT investors."

The table below summarizes the income tax treatment of distributions paid to Class A stockholders during the year ended December 31, 2020:

Record

Date


Payment
Date


Net
Distribution
per share
(1)



Capital Gain
Income (2)


Return of Capital


Unrecaptured
Section 1250
Gains

12/30/2019


2/3/2020


$

0.11189



$

0.04867


43.5

%


$

0.06322


56.5

%


$

0.01992


3/25/2020


3/30/2020


0.11211



0.04877


43.5



0.06334


56.5



0.01996


6/24/2020


6/29/2020


0.11239



0.04889


43.5



0.06350


56.5



0.02001


9/24/2020


9/29/2020


0.11282



0.04908


43.5



0.06374


56.5



0.02008


12/23/2020


12/30/2020


0.11280



0.04907


43.5



0.06373


56.5



0.02008


Total




$

0.56201



$

0.24448


43.5

%


$

0.31753


56.5

%


$

0.10005




(1)

Distributions per share are net of dealer manager fees of 0.85%.



(2)

Distributions include 17.8% of Unrecaptured Section 1250 Gain.

The table below summarizes the income tax treatment of distributions paid to Class M stockholders during the year ended December 31, 2020:

Record
Date


Payment
Date


Net
Distribution
per share (1)



Capital Gain
Income (2)


Return of Capital


Unrecaptured
Section 1250
Gains

12/30/2019


2/3/2020


$

0.12600



$

0.05481


43.5

%


$

0.07119


56.5

%


$

0.02243


3/25/2020


3/30/2020


0.12649



0.05502


43.5



0.07147


56.5



0.02252


6/24/2020


6/29/2020


0.12683



0.05517


43.5



0.07166


56.5



0.02258


9/24/2020


9/29/2020


0.12661



0.05508


43.5



0.07153


56.5



0.02254


12/23/2020


12/30/2020


0.12719



0.05533


43.5



0.07186


56.5



0.02264


Total




$

0.63312



$

0.27541


43.5

%


$

0.35771


56.5

%


$

0.11271




(1)

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



(2)

Distributions include 17.8% of Unrecaptured Section 1250 Gain.

The table below summarizes the income tax treatment of distributions paid to Class A-I stockholders during the year ended December 31, 2020:

Record
Date


Payment
Date


Net
Distribution
per share (1)



Capital Gain
Income (2)


Return of Capital


Unrecaptured
Section 1250
Gains

12/30/2019


2/3/2020


$

0.12674



$

0.05513


43.5

%


$

0.07161


56.5

%


$

0.02256


3/25/2020


3/30/2020


0.12681



0.05516


43.5



0.07165


56.5



0.02257


6/24/2020


6/29/2020


0.12753



0.05548


43.5



0.07205


56.5



0.02270


9/24/2020


9/29/2020


0.12632



0.05495


43.5



0.07137


56.5



0.02248


12/23/2020


12/30/2020


0.12715



0.05531


43.5



0.07184


56.5



0.02263


Total




$

0.63455



$

0.27603


43.5

%


$

0.35852


56.5

%


$

0.11294




(1)

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



(2)

Distributions include 17.8% of Unrecaptured Section 1250 Gain.

The table below summarizes the income tax treatment of distributions paid to Class M-I stockholders during the year ended December 31, 2020:

Record
Date


Payment
Date


Net
Distribution
per share



Capital Gain
Income (1)


Return of Capital


Unrecaptured

Section 1250
Gains

12/30/2019


2/3/2020


$

0.13500



$

0.05873


43.5

%


$

0.07628


56.5

%


$

0.02403


3/25/2020


3/30/2020


0.13500



0.05873


43.5



0.07628


56.5



0.02403


6/24/2020


6/29/2020


0.13500



0.05873


43.5



0.07628


56.5



0.02403


9/24/2020


9/29/2020


0.13500



0.05873


43.5



0.07628


56.5



0.02403


12/23/2020


12/30/2020


0.13500



0.05873


43.5



0.07628


56.5



0.02403


Total




$

0.67500



$

0.29365


43.5

%


$

0.38140


56.5

%


$

0.12015




(1)

Distributions include 17.8% of Unrecaptured Section 1250 Gain.

The table below summarizes the income tax treatment of distributions paid to Class D stockholders during the year ended December 31, 2020:

Record
Date


Payment
Date


Net
Distribution
per share



Capital Gain
Income (1)


Return of Capital


Unrecaptured
Section 1250
Gains

12/30/2019


2/3/2020


$

0.13500



$

0.05873


43.5

%


$

0.07628


56.5

%


$

0.02403


3/25/2020


3/30/2020


0.13500



0.05873


43.5



0.07628


56.5



0.02403


6/24/2020


6/29/2020


0.13500



0.05873


43.5



0.07628


56.5



0.02403


9/24/2020


9/29/2020


0.13500



0.05873


43.5



0.07628


56.5



0.02403


12/23/2020


12/30/2020


0.13500



0.05873


43.5



0.07628


56.5



0.02403


Total




$

0.67500



$

0.29365


43.5

%


$

0.38140


56.5

%


$

0.12015




(1)

Distributions include 17.8% of Unrecaptured Section 1250 Gain.

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.

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, return of capital or long-term capital gain.

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 grocery-anchored 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 is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $69 billion of assets in private and public real estate property and debt investments as of Q4 2020. 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 http://www.lasalle.com.

Valuations, 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.

Scott Sutton
LaSalle Investment Management
Telephone: +1 224 343 5538
Email: [email protected] 

Doug Allen
Dukas Linden Public Relations
Telephone: +1 646 722 6530
Email: [email protected]

SOURCE JLL Income Property Trust


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