Jones Lang LaSalle Income Property Trust, Inc.
REIT Compliance Monitoring
September 30, 2015



 
 
 
Status as of
 
 
Asset tests
 
September 30, 2015
 
Pass / Fail
1)
Cash, real estate assets and government securities must make up 75% of total assets value.
 
99.5%
 
Pass
2)
No more than 5% of total assets value many consist of securities from one issuer.
 
No securities held
 
Pass
3)
Company may not hold more than 10% of market capitalization or 10% voting rights of any issuer.
 
No securities held
 
Pass
4)
Personal Property at any property may not exceed 15% of total assets at the property.
 
No property > 3.0%
 
Pass
5)
No more than 20% of assets are in a Taxable REIT Subsidiary (TRS).
 
No assets in a TRS
 
Pass
 
 
 
 
 
Income tests - must be met on an annual basis, but monitored quarterly
 
 
 
 
1)
75% of taxable gross income must be derived from allowable real estate operations
 
97.0%
 
Pass
2)
95% of taxable gross income must be derived from test 1 plus interest income and capital gains
 
97.0%
 
Pass
 
 
 
 
 
 
Minimum Distribution - must be met on annual basis, but monitored quarterly
 
 
 
 
1)
90% of taxable income must be distributed during the year
 
Taxable income projected for 2015 as a result of gains on sales. Projected income less than 50% of projected dividends.
 
Pass
 
 
Small E&P loss projected for 2015 resulting in dividend treatment as return of capital.