JLL Income Property Trust secures $1 billion credit facility

JLL Income Property Trust announced it has closed a $1 billion credit facility with a syndicate of ten real estate lenders, according to a company statement. The REIT trades on NASDAQ under multiple tickers including ZIPTAX, ZIPTMX, ZIPIAX, and ZIPIMX.

The facility consists of a $600 million revolving line of credit and a $400 million term loan. The company can increase the total facility to $1.3 billion. The credit arrangement has a two-year term with three one-year extension options and carries an interest rate based on SOFR plus a spread ranging from 1.20% to 1.95%.

JPMorgan Chase Bank serves as administrative agent for the syndicate. Co-syndication agents include JPMorgan Chase Bank, Bank of America, Capital One National Association, PNC Capital Markets and Wells Fargo Securities, which also serve as joint lead arrangers and joint bookrunners.

Additional participating lenders include BMO Bank, Fifth Third Bank National Association, Regions Bank, TD Bank and The Bank of New York Mellon.

"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," said Allan Swaringen, president and CEO of JLL Income Property Trust.

The company manages approximately $6.9 billion in portfolio equity and debt investments. JLL Income Property Trust operates as a daily net asset value REIT that owns residential, industrial, grocery-anchored retail, healthcare and office properties in the United States.

LaSalle Investment Management, a subsidiary of JLL, manages the REIT. LaSalle oversees $86.4 billion in global real estate assets as of the third quarter of 2025.

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