JLL Income Property Trust Sells Washington, D.C.-Area Apartment Community
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 sold Kingston at McLean Crossing, a 319-unit apartment community located in the suburb of McLean, Va., approximately 20 minutes northwest of Washington, D.C.
The buyer is multifamily owner-operator Pantzer Properties, which subsequently rebranded the property as The Point at McLean. The property was 96% occupied at the time of sale.
According to the company, the disposition aligns with JLL Income Property Trust’s strategy of recycling capital into property sectors and markets positioned for stronger forward returns. Acquired in 2021 for approximately $120 million, the sale of this property supports the fund’s recycling strategy targeting assets with improved long-term growth prospects, according to the company.
The broker for the deal, Berkadia, noted that this transaction was part of approximately $500 million in multifamily sales the firm completed in January 2026, but the particular selling price of the McLean property was not disclosed.
“This property proved to be an excellent investment for us, providing outperformance counter to its broader market over our four-year hold period,” said Allan Swaringen, president and chief executive officer of JLL Income Property Trust. “This disposition was an opportunity for us to recycle capital at an attractive rate of return, increase our dry powder available for new investments, and redeploy into more core, stabilized assets during a new market cycle for real estate.”
Over its 13-year history, JLL Income Property Trust has sold more than 50 properties at values totaling in excess of $1.3 billion, in aggregate trading on an arms-length basis within 1% of the most recent independent appraised value, while utilizing an institutional, independent valuation methodology – a practice the company says differs from many others in the NAV REIT industry.
JLL Income Property Trust’s allocation to residential investments remains significant after this disposition. At $2.5 billion, investments in the residential sector across multifamily apartments and single-family rental homes comprise 38% of JLL Income Property Trust’s $6.9 billion diversified portfolio.
Earlier this year, the company acquired Westbury Square, a community retail center in an established submarket of Huntsville, Ala., for a purchase price of approximately $32 million. The center totals approximately 115,000 square feet and is 100% leased to a diverse mix of retail tenants, including two national retailers with a weighted average lease term of six years.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that owns and manages a diversified portfolio of residential, industrial, grocery-anchored retail, healthcare, office, and debt investments throughout the nation.
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