Jll income property trust closes senior secured real estate loan on houston apartment community

Sponsor jll also funds previously announced $100 million equity investment chicago , jan. 7, 2025 /prnewswire/ -- jll income property trust, an institutionally-managed daily nav reit (nasdaq: ziptax; ziptmx; zipiax; zipimx) with approximately $6.6 billion in portfolio equity and debt investments, announced today that it originated a $32 million senior, secured floating rate first mortgage loan on a newly constructed, institutional-quality apartment community in north suburban houston, texas.  the loan has an initial three-year term and earns an interest rate of 3% above sofr – the secured overnight financing rate – with a sofr floor of 3.25%, and is currently projected to deliver an attractive yield of approximately 7% to 8%.
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