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Jll Income Property Trust Acquires Medical Office Buildings In San Diego

by benzinga.com posted 2weeks ago 11 views
CHICAGO, July 3, 2019 /PRNewswire/ -- JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) today announced the acquisition of Genesee Plaza, a Class A, two-building medical office campus in San Diego, California. The property was acquired below its estimated replacement cost for approximately $90 million. The medical office sector has been identified as a defensive, low beta real estate investment strategy for late cycle investing by LaSalle Investment Management's Research & Strategy group as they continually evaluate the latest macro and micro economic trends.

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