JLL Income Property Trust announced on October 7, 2026, that it has closed a $68.5 million mortgage loan secured by Whitestown Distribution Center IV. The property is a Class A distribution center located in the Northwest submarket of Indianapolis, Indiana.
The facility encompasses approximately 1.1 million square feet and is 100% leased to a single tenant. Constructed in 2024, the building serves as the tenant's largest North America redistribution center, servicing eight regional centers. The property features state-of-the-art amenities, including LED lighting, ESFR sprinklers, truck courts ranging from 135 to 185 feet, full dock packages with hydraulic levelers, and 40-foot clear heights.
The loan has a term of seven years and carries an interest rate of 5.54%. According to the filing, the transaction supports the Trust's strategy of utilizing fixed-rate leverage on specific properties to enhance returns.
In a statement regarding the deal, Allan Swaringen, President and CEO of JLL Income Property Trust, noted that the leverage is being applied to a newly built industrial property in an infill location with strong demand drivers to provide durable cash flow.
As of September 30, 2026, industrial investments make up the largest percentage of the Trust's total portfolio. The Trust reported approximately $6.9 billion in total portfolio equity and debt investments, with $2.7 billion allocated to industrial assets across 66 properties.
