CHICAGO, IL — JLL Income Property Trust, a daily NAV REIT with approximately $6.9 billion in portfolio equity and debt investments, has closed a $1 billion credit facility with a syndicate of ten major real estate lenders. The facility includes a $600 million revolving line of credit and a $400 million term loan, with the option to expand up to $1.3 billion.
The two-year facility carries three one-year extension options and bears an interest rate based on SOFR, plus a spread ranging from 1.20% to 1.95%.
“We appreciate the recognition by these ten major financial institutions of our investment strategy, the growth and quality of our portfolio, and our performance track record,” said Allan Swaringen, president and CEO of JLL Income Property Trust. “This new facility supports our growth plans and increases our flexibility to invest at an opportune time early in what we believe to be a recovery cycle.”
The credit facility syndicate is led by JPMorgan Chase Bank, N.A. as Administrative Agent, with JPMorgan Chase, Bank of America, Capital One, PNC Capital Markets, and Wells Fargo Securities serving as Co-Syndication Agents, Joint Lead Arrangers, and Joint Bookrunners. Additional participating lenders include BMO Bank, Fifth Third Bank, Regions Bank, TD Bank, and The Bank of New York Mellon.
JLL Income Property Trust invests in a growing portfolio of real estate assets, managed by an institutional investment team and sponsored by one of the world’s leading real estate services firms. The new credit facility will provide additional liquidity and flexibility to support portfolio growth and strategic investments.
