JLL Income Property Trust Acquires $21M Tampa Cancer Center
JLL Income Property Trust, a daily net asset value, perpetual life real estate investment trust managed by LaSalle Investment Management and sponsored by Jones Lang LaSalle (NYSE: JLL), has announced the acquisition of 3000 University Center Drive. The $21 million acquisition adds a high-quality medical asset to the REIT’s growing healthcare portfolio.
The property is 100% leased to a National Cancer Institute-designated comprehensive cancer center. Strategically located in the heart of the Tampa metro, the facility sits less than two miles from two of the tenant’s primary hospital campuses. Its location between I-275 and I-75 places it within a high-growth corridor favored by Fortune 100 companies such as USAA, CitiCorp, and JP Morgan Chase. According to the REIT, the submarket is characterized by rising population density, high average incomes, and a robust labor pool.
“3000 University Center is an attractive addition to our healthcare allocation,” said Allan Swaringen, president and chief executive officer of JLL Income Property Trust. “With construction costs rising due to inflation and tariffs and the unique infrastructure needs of medical outpatient buildings, limited supply has led healthcare tenants to exhibit high retention rates. Additionally, demographic drivers like an aging population and increased healthcare spending in the U.S. have contributed to strong demand for these properties.”
Healthcare real estate has been a core component of JLL Income Property Trust since its inception in 2012. As of late 2025, the company’s healthcare investments represent 9% of its total $7 billion portfolio, with $626 million in assets across 24 healthcare properties.
“3000 University Center combines a strong tenant profile with a thriving location for healthcare in the Tampa Bay area, making it a strategic investment for us,” added Swaringen.
As of Dec. 16, the company reported a Class M-I daily NAV of $11.40 and an annualized distribution rate of 5.56%.
Last month, Swaringen spoke with AltsWire for our “Five Questions for…” series. He shared his perspective on U.S. real estate, identifying investment opportunities he foresees, as well as discussing the advantages of portfolio diversification and realistic return expectations.
Additionally in October 2025, JLL Income Property Trust announced the launch of four new share classes of its common stock, as well as the renaming of an existing class. Previously, AltsWire reported that the REIT acquired the Glendale Distribution Center, a Class A industrial warehouse facility in Glendale, Ariz., over the summer. It was purchased for approximately $140 million.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare, office and debt investments throughout the nation.
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