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JLL Income Property Trust Acquires Boston Apartment Community for USD 72.5m
Friday 14 May 2021

Chicago-based REIT JLL Income Property Trust has acquired Princeton North Andover, a 192-unit, luxury apartment community located in the Boston area, for USD 72.5m, the company said.

JLL income Property Trust's acquisition of Princeton North Andover on an off-market basis was at approximately USD 375,000 per unit.

The addition of the Princeton property expands JLL's growing apartment portfolio and fits with the company's strategy to invest in amenity-rich, newer communities with high barriers to entry for new competition.

Jones Lang LaSalle Income Property Trust, Inc. (JLL Income Property Trust) (NASDAQ: ZIPTAX) (NASDAQ: ZIPTMX) (NASDAQ: ZIPIAX) (NASDAQ: ZIPIMX) is a daily NAV REIT with more than USD 3.6bn in portfolio assets and 86 properties, owns and operates a diversified portfolio of income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States.
Date Published: 14/05/2021