JLL-Managed REIT Returns To Office Investment with $122 Million Purchase

JLL Income Property Trust, a non-traded REIT managed by JLL’s LaSalle Investment Management, acquired Pioneer Tower, a 17-story, 296,329-square-foot, multi-tenant, Class A office building in the heart of Portland’s central business district. The purchase price was $121.75 million (about $411/square foot) with an estimated capitalization rate based on purchase price of 5%. The seller was General Growth Properties Inc. It is the REIT’s single…

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