8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported) August 17, 2020

Jones Lang LaSalle Income Property Trust, Inc.

(Exact name of registrant as specified in its charter)

Maryland	000-51948		20-1432284
(State or other jurisdiction of incorporation)	(Commission File Number)		(IRS employer Identification No.)
333 West Wacker Drive, Chicago, IL		60606
(Address of principal executive offices)		(Zip Code)
Registrant’s telephone number, including area code: (312) 897-4000
N/A
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act: None

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 - Regulation FD Disclosure.

On August 17, 2020, JLL Income Property Trust, (the "Company") issued a press release announcing that on August 6, 2020 its Board of Directors approved a gross dividend for the third quarter of 2020 of $0.135 per share. The dividend is payable on or around September 29, 2020 to stockholders of record as of September 24, 2020. All stockholders will receive $0.135 per share less applicable share class specific fees and the annualized yield will differ based on the share class. Any future dividends will be made at the discretion of the board and will depend on the Company’s earnings, financial condition, maintenance of its REIT status and such other factors as the board of directors may deem relevant from time to time.

The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

The information in this Current Report is furnished pursuant to Item 7 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. This information will not be deemed an admission as to the materiality of any information contained herein that is required to be disclosed solely by Regulation FD.

Item 9.01 - Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description
99.1	Press release issued by JLL Income Property Trust on August 17, 2020, announcing the dividend for the third quarter of 2020.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

JONES LANG LASALLE INCOME PROPERTY TRUST, INC.
By:	/s/ Gregory A. Falk
	Name: Gregory A. Falk
	Title: Chief Financial Officer and Treasurer

Date: August 18, 2020

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press release issued by JLL Income Property Trust on August 17, 2020, announcing the dividend for the third quarter of 2020.

EX-99.1

Exhibit 99.1  

333 West Wacker Drive

Chicago IL 60606

Tel: +1 312 897-4000

Contact	Scott Sutton	Date	August 17, 2020
Telephone:	+1-224-343-5538	Email:	scott.sutton@lasalle.com

JLL Income Property Trust

Declares 35^th Consecutive Quarterly Dividend

Chicago (August 17, 2020) – JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), announced that on August 6, 2020 its Board of Directors approved a gross dividend for the third quarter of 2020 of $0.135 per share. JLL Income Property Trust has declared 35 consecutive quarterly dividends to its stockholders beginning with the first quarter 2012.

The dividend is payable on or around September 29, 2020 to stockholders of record as of September 24, 2020. On an annualized basis, this gross dividend is equivalent to $0.54 per share and represents a yield of approximately 4.6 percent on a NAV per share of $11.65 as of August 5, 2020. All stockholders will receive $0.135 per share less applicable share class specific fees and the annualized yield will differ based on the share class.

“Now more than ever it is critical that our stockholders have investments in their portfolio are capable of providing positive cashflow,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “Through these past months, clients have increasingly turned to us for the expert real estate advice and knowledge they need to help navigate these difficult waters. Our diversified, core real estate strategy has continued to weather market volatility and provide the stability investors desire.”

A second quarter dividend of $0.135 per share, less applicable share class specific fees, was paid according to the table below on June 29, 2020 to stockholders of record as of June 24, 2020. Any future dividends will be approved at the discretion of the Board of Directors.

	M-I Share	A-I Share1	M Share2	A Share3
Q2 Quarterly Gross Dividend per Share	$0.13500	$0.13500	$0.13500	$0.13500
Less: Dealer Manager Fee per Share	-	($0.00747)	($0.00817)	($0.02261)
Q2 Quarterly Net Dividend per Share	$0.13500	$0.12753	$0.12683	$0.11239
NAV per Share as of June 30, 2020	$11.63	$11.94	$11.63	$11.60
Annualized Net Dividend Yield Based on NAV as of June 30, 2020	4.6%	4.4%	4.4%	3.9%

1.A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class A-I stockholders daily and reduces the quarterly dividend paid.

2.A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class M stockholders daily and reduces the quarterly dividend paid.

3.A dealer manager fee equal to 1/365th of 0.85% of NAV is allocated to Class A stockholders daily and reduces the quarterly dividend paid.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.

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About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX)

Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.

About LaSalle Investment Management

LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $65 billion of assets in private and public real estate property and debt investments as of Q1 2020. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.

Forward Looking Statements and Future Results

This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, research, market analysis, 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. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.