JLL Income Property Trust to acquire medical office building for $52m.

JLL Income Property Trust, an institutionally managed daily NAV REIT, agreed to acquire medical office building in Richmond, Virginia, for $52m. "Limited new supply, exceptional occupancy along with significant barriers to entry due to higher construction and tenant improvement costs often lead to longer tenant retention, creating a stable investment opportunity. This is especially true for 9101 Stony Point Drive where the tenant has shown its commitment by investing in property upgrades and making the building its headquarters. We're pleased to add this property to our growing healthcare-oriented portfolio," Allan Swaringen, JLL Income Property Trust President and CEO.