JLL Income Property Trust has announced it has invested $560 million for a 47% stake in a national portfolio of over 4,000 single family rental homes, its first foray into that market.
"This is a unique and attractive opportunity for us to enter the single-family rental market at scale through a previously acquired, renovated and stabilized portfolio with broad nationwide diversification," said the trust's president and CEO Allan Swaringen.
He added the acquisition has grown the residential allocation of JLL Income Property Trust to over 40% of its portfolio, a strategic overweight objective he asserted it has had over the last few years.
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