JLL Income Property Trust Announces Reductions in Fees; Increase to Dividend Yield
Summary
CHICAGO, April 3, 2018 /PRNewswire/ -- JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX ; ZIPTMX ; ZIPIAX ; ZIPIMX ), today announced the reduction of fees on two of its publicly available share classes.These share class specific expense reductions are effective as of April 1, 2018, and would first be reflected in JLL Income Property Trusts second quarter 2018 dividend declaration, subject to board approval, payable in August of 2018.In other corporate filings, JLL Income Property Trust also amended certain organizational documents allowing it to adopt an "umbrella partnership" or UPREIT structure also effective as of April 1, 2018.The UPREIT structure is commonly used to facilitate tax-free contributions of properties in exchange for partnership interests which may allow sellers to defer taxation of gains.JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.
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