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JLL Income Property Trust completed the acquisition of Louisville Logistics Center for $82m.

Synopsis

JLL Income Property Trust, an institutionally managed daily NAV REIT, completed the acquisition of Louisville Logistics Center, an industrial property strategically located in the top-tier industrial submarket of South Louisville, for $82m. "Louisville's central geographic location, irreplaceable transportation infrastructure, and strong interstate highway access make it a desirable and strategic location for both regional and national logistic. The property's new construction, significant improvements by the tenant, and a 10-year lease to an investment-grade Fortune 100 company, make this an attractive addition to our carefully constructed warehouse portfolio. Further, pricing on this quality of property is nearly 150 basis points improved over market pricing eighteen months ago. For investors like us with access to capital, these market conditions should present some exceptional investing opportunities," Allan Swaringen, JLL Income Property Trust President and CEO.

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