CHICAGO--(BUSINESS WIRE)-- Jones Lang LaSalle Income Property Trust, Inc. (“Income Property Trust”), a non-listed daily net asset value perpetual life real estate investment trust (“REIT”), today announced that the U.S. Securities and Exchange Commission declared Income Property Trust’s registration statement on Form S-11 effective on October 1, 2012.
Income Property Trust owns and manages a diversified portfolio of high quality, income-producing office, retail, industrial and apartment properties located primarily in the United States. Over time and with the proceeds from this offering, Income Property Trust expects to further diversify its real estate portfolio, including on a global basis, and will also reduce borrowings and fund share repurchases under its share repurchase plan.
Shares in the offering are being distributed through Income Property Trust’s affiliated dealer manager, LaSalle Investment Management Distributors, LLC (“LaSalle Distributors”). Merrill Lynch, Pierce, Fenner & Smith, Incorporated has been engaged by LaSalle Distributors to distribute shares of Income Property Trust on an exclusive basis for up to one year, subject to certain exceptions.
Pursuant to the registration statement, Income Property Trust is offering to the public up to $3.0 billion in any combination of two classes of shares of its common stock, Class A and Class M shares. The share classes have different selling commissions and on-going fees. The per share purchase price will initially be $10.00 and thereafter, vary from day-to-day and will equal Income Property Trust’s net asset value per share for each class of common stock, plus, for Class A shares only, applicable selling commissions.
A copy of the final prospectus for the offering is available at www.jllipt.com or without charge upon written request addressed to Jones Lang LaSalle Income Property Trust, Inc., c/o DST Systems, Inc. P.O. Box 219165 Kansas City, MO 64121-9165. Phone inquiries may be directed to (855) 823-5521.
Forward Looking Statements
This press release may contain forward-looking statements with respect to Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: the ability of Income Property Trust to effectively raise capital in its offering, uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of Income Property Trust’s investment strategy; and other risk factors as outlined in Income Property Trust’s registration statement on Form S-11 (Registration No. 333-177963) and periodic reports filed with the U.S. Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
LaSalle Investment Management
Stefanie Murphy, +1 312 228 2121
Source: LaSalle Investment Management