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style="height:31.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_7"></div><hr style="page-break-after:always"/><div style="min-height:36pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Jones Lang LaSalle Income Property Trust, Inc.</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">INDEX </span></div><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div><div style="margin-top:5pt;text-align:center;text-indent:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.936%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PAGE<br/>NUMBER</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_13">Part I - FINANCIAL INFORMATION</a></span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_10">Item 1. Financial Statements</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_10">3</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:42.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_13">Consolidated Balance Sheets as of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_13">March</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_13"> 3</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_13">1</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_13">, 202</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_13">2</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_13"> (unaudited) and December&#160;31, 202</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_13">3</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:42.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16">Consolidated Statements of Operations for the three </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16">months ended </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16">March</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16"> 3</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16">1</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16">, 202</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16">2</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16"> and 202</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16">1</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16"> (unaudited)</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_16">4</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:42.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19">Consolidated Statements of Equity for the three </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19">months </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19">ended </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19">March</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19"> 3</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19">1</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19">, 202</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19">2</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19"> and 202</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19">1</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19"> (unaudited)</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_19">5</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:42.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22">Consolidated Statements of Cash Flows for the </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22">three</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22"> months ended </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22">March</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22"> 3</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22">1</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22">, 202</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22">2</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22"> and 202</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22">1</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22"> (unaudited)</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_22">6</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:42.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_25">Notes to Consolidated Financial Statements (unaudited)</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_25">7</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_79">Item&#160;2. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_79">24</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_124">Item&#160;3. Quantitative and Qualitative Disclosures About Market Risk</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_124">45</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_130">Item&#160;4. Controls and Procedures</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_130">45</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_133">Part II - OTHER INFORMATION</a></span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_136">Item&#160;1. Legal Proceedings</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_136">46</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_139">Item&#160;1A. Risk Factors</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_139">46</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_142">Item&#160;2. Unregistered Sales of Equity Securities and Use of Proceeds</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_142">46</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_145">Item&#160;3. Defaults Upon Senior Securities</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_145">47</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_148">Item&#160;4. Mine Safety Disclosures</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_148">47</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_151">Item&#160;5. Other Information</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_151">47</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_154">Item&#160;6. Exhibits</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_154">48</a></span></div></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_157">SIGNATURES</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_157">49</a></span></div></td></tr></table></div><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_10"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 1. Financial Statements.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_13"></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Jones Lang LaSalle Income Property Trust, Inc.</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CONSOLIDATED BALANCE SHEETS</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$ in thousands, except per share amounts</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:69.514%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.666%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.790%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">ASSETS</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Unaudited)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments in real estate:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:Land" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMy0wLTEtMS03MjcyNi90ZXh0cmVnaW9uOjRjZmZmNWU0YzcwZTQ1OTRiZTg2MDBkZjhiNzRhNTZjXzM0_a0d5b50a-ffa9-4abd-b9a7-aceed8684af3">59,006</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:Land" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMy0wLTEtMS03MjcyNi90ZXh0cmVnaW9uOjRjZmZmNWU0YzcwZTQ1OTRiZTg2MDBkZjhiNzRhNTZjXzQx_ef358e47-d220-4b79-9625-b2c1dc9040a8">59,006</ix:nonFraction>, respectively)</span></div></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:Land" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMy0xLTEtMS03MjcyNg_e84d28e1-7ed5-406c-a7a9-0089d7ef9c81">609,217</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:Land" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMy0zLTEtMS03MjcyNg_f887c1bc-bdce-4a19-95b8-640a2d88bd48">598,564</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buildings and equipment (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:InvestmentBuildingAndBuildingImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNC0wLTEtMS03MjcyNi90ZXh0cmVnaW9uOjdhNTUwNDYwZjI5YTRjMTZhZTkxOTRiNmYwZTMxNzEzXzUz_5c822217-b8fa-45cc-8664-b82cc9f95f84">206,360</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:InvestmentBuildingAndBuildingImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNC0wLTEtMS03MjcyNi90ZXh0cmVnaW9uOjdhNTUwNDYwZjI5YTRjMTZhZTkxOTRiNmYwZTMxNzEzXzYx_7af9e1da-fec0-4b50-8b47-3ffbc481997e">206,016</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:InvestmentBuildingAndBuildingImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNC0xLTEtMS03MjcyNg_c2776656-de60-4817-87a6-f9e8003f74cb">3,150,267</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:InvestmentBuildingAndBuildingImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNC0zLTEtMS03MjcyNg_37d6c535-31cb-4061-9900-9512f8bb062c">3,010,359</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less accumulated depreciation (including from VIEs of $(<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNS0wLTEtMS03MjcyNi90ZXh0cmVnaW9uOjY1ZWJjMTkyOWI0NTRiYWRiZWZhNWExMzVlMzFjNWQ3XzU5_0f6fc0bf-8e42-4210-a3cf-a44d5c03db00">28,193</ix:nonFraction>) and $(<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNS0wLTEtMS03MjcyNi90ZXh0cmVnaW9uOjY1ZWJjMTkyOWI0NTRiYWRiZWZhNWExMzVlMzFjNWQ3XzY3_d893cf1a-3d1b-49d6-99ef-09764496822a">26,955</ix:nonFraction>), respectively)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNS0xLTEtMS03MjcyNg_fc94e1fe-405e-477e-bd72-73d5349b24ae">277,859</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNS0zLTEtMS03MjcyNg_792726f9-dbb5-49bb-b884-846e7242692f">259,362</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net property and equipment</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="jllipt:LandBuildingsAndEquipmentNetOfAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNi0xLTEtMS03MjcyNg_8ed752fe-029a-4614-9ca5-00527951ee20">3,481,625</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="jllipt:LandBuildingsAndEquipmentNetOfAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNi0zLTEtMS03MjcyNg_04b3ec0b-a082-4ce6-9e30-11ce3eaea3bd">3,349,561</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investment in unconsolidated real estate affiliates</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNy0xLTEtMS03MjcyNg_f9066835-6131-4e64-84f0-7c8982ffeaf7">217,070</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNy0zLTEtMS03MjcyNg_2a574dad-ddb3-4f1e-b427-06ac2f157941">217,044</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Real estate fund investments</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfOC0xLTEtMS03MjcyNg_3677415d-b39b-4cbc-b5c4-858bb45d0f9a">376,813</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfOC0zLTEtMS03MjcyNg_98de887f-e065-45d9-91e9-cf3c5677f692">352,905</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments in real estate and other assets held for sale</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:AssetsOfDisposalGroupIncludingDiscontinuedOperation" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfOS0xLTEtMS03MjcyNg_176bc0e9-b0d2-4004-94aa-d9ac7a28633d">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:AssetsOfDisposalGroupIncludingDiscontinuedOperation" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfOS0zLTEtMS03MjcyNg_0fabf6eb-b42e-48e2-b262-184f3664212e">39,326</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investments in real estate</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:RealEstateInvestmentPropertyNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTAtMS0xLTEtNzI3MjY_b032667d-ef66-45f8-8061-93e321ef014a">4,075,508</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:RealEstateInvestmentPropertyNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTAtMy0xLTEtNzI3MjY_b070e59e-b2bd-419f-80aa-b7eed79b2b79">3,958,836</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investment in marketable securities</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:MarketableSecurities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTEtMS0xLTEtNzI3MjY_0fa4acad-757a-455f-a06b-dcf7af27ab99">40,599</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:MarketableSecurities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTEtMy0xLTEtNzI3MjY_9b072eb8-136e-41a8-8b27-0b96006ba25d">43,206</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTItMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo1NDYyZDNhMGJhZGY0MWRjOGQ3NDM1OTIxYzY2MDBiY181NQ_37287881-12ce-43ed-b1cd-7a85d4a6ec01">6,678</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTItMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo1NDYyZDNhMGJhZGY0MWRjOGQ3NDM1OTIxYzY2MDBiY182Mw_a952168e-9f20-4bf9-99d7-9de69ca4bbce">6,740</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTItMS0xLTEtNzI3MjY_8c60f7e3-41f4-4170-b12e-aefb14dd333a">124,415</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTItMy0xLTEtNzI3MjY_5c7f47a5-5fee-475f-aa87-28eee9e69c3c">70,273</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Restricted cash (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:RestrictedCashAndCashEquivalents" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTMtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjoxYWU2YWE0NDE4Zjc0ZTc0ODY3NWYzNWJjNTc0YzYzMV80NQ_be1b042d-223c-4aa0-b941-d03c5d2a3d5e">484</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:RestrictedCashAndCashEquivalents" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTMtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjoxYWU2YWE0NDE4Zjc0ZTc0ODY3NWYzNWJjNTc0YzYzMV81Mw_d4223e61-e1c3-4795-98b4-f49e1b44ae5b">859</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:RestrictedCashAndCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTMtMS0xLTEtNzI3MjY_f584655e-947f-415a-ab44-61505e7d77b7">61,161</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:RestrictedCashAndCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTMtMy0xLTEtNzI3MjY_41d206af-9966-47d1-a296-9bb44cea074e">51,203</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tenant accounts receivable, net (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:AccountsReceivableNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTQtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo5MGEzMGQyZTFhZDc0NjZhYmY4YTY3NjFjNTY1MTI4MF82MQ_cfcdd521-b603-44bb-ae33-98925685f1ab">2,808</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:AccountsReceivableNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTQtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo5MGEzMGQyZTFhZDc0NjZhYmY4YTY3NjFjNTY1MTI4MF82OQ_242be058-0a2f-4b01-91cd-c75da1b2624d">1,850</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:AccountsReceivableNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTQtMS0xLTEtNzI3MjY_c53fe822-54cc-407b-895b-80aa078e0c16">8,817</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:AccountsReceivableNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTQtMy0xLTEtNzI3MjY_bedd1c3d-34fc-4074-b49c-ebb35568b1e6">9,066</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred expenses, net (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:DeferredCosts" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTUtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpjM2E1MDc0MzI5ZTg0ZTczODcwY2ExZjM4NmJmYzJhM181Mg_09019f70-6f10-402a-8272-f8ccc01f1618">536</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:DeferredCosts" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTUtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpjM2E1MDc0MzI5ZTg0ZTczODcwY2ExZjM4NmJmYzJhM182MA_f2a2bedf-4214-43c5-9b35-43f5e3d2718d">533</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:DeferredCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTUtMS0xLTEtNzI3MjY_bd5d0b53-c2a8-44da-bc8b-eebb0c9ba086">15,001</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:DeferredCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTUtMy0xLTEtNzI3MjY_a352949f-7aaf-4e14-8874-be72f1434559">14,511</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquired intangible assets, net (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTYtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplNjc5MDM5MDZmYjM0N2JhOGM3Yjk1MzcyZGRjOWEzNF82MQ_d9b75e98-5e3c-453d-a315-9ea38a816488">11,254</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTYtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplNjc5MDM5MDZmYjM0N2JhOGM3Yjk1MzcyZGRjOWEzNF82OQ_a15737e0-da25-4d23-8919-ba1c6548eb28">12,500</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTYtMS0xLTEtNzI3MjY_b4010786-e0f1-42ae-99db-5b07f79a8aee">204,677</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTYtMy0xLTEtNzI3MjY_20582a70-5f85-4fe5-a7a0-ef24a2875f48">216,227</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred rent receivable, net (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:DeferredRentReceivablesNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo4ZjEyYWUyZTRlYTA0OWIwOTVlOTAxZWQ1NDA5NjAwNl81OQ_e777d411-fcde-4b66-9af7-bfad7ecc5ced">1,103</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:DeferredRentReceivablesNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo4ZjEyYWUyZTRlYTA0OWIwOTVlOTAxZWQ1NDA5NjAwNl82Nw_2e64fbdb-95d5-4771-b2f0-7700edc906ea">1,135</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:DeferredRentReceivablesNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTctMS0xLTEtNzI3MjY_2281c645-e9ef-4e38-9e9e-91ec188afaf6">27,289</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:DeferredRentReceivablesNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTctMy0xLTEtNzI3MjY_08aa5998-ae56-451c-a093-e63b2576c7ea">25,634</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepaid expenses and other assets (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:PrepaidExpenseAndOtherAssets" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTgtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplYTFiMGM5ZWNlNzA0YzFiOWFiY2U5ODJjMTBkOTZiN182Mw_65661368-8d71-4154-ab0d-64c2c7788d6e">325</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:PrepaidExpenseAndOtherAssets" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTgtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplYTFiMGM5ZWNlNzA0YzFiOWFiY2U5ODJjMTBkOTZiN183MQ_2860020e-ec73-4448-8a78-732f9ff7916d">284</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:PrepaidExpenseAndOtherAssets" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTgtMS0xLTEtNzI3MjY_1a6c224d-dd82-4516-8008-73aeaf5c1381">18,760</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:PrepaidExpenseAndOtherAssets" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTgtMy0xLTEtNzI3MjY_1d6a2d6a-18ef-410d-9364-f4f839b09279">13,290</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TOTAL ASSETS</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTktMS0xLTEtNzI3MjY_0b64a286-dc2c-4437-bce6-ba71513054ca">4,576,227</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMTktMy0xLTEtNzI3MjY_cd98e2ac-4449-49d6-b5b2-767004a1730c">4,402,246</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">LIABILITIES AND EQUITY</span></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mortgage notes and other debt payable, net (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjEtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpmNTkxNTViNGZhY2M0YWRlODgwZDdjYzhhZjUwMzZjYl83Mg_9a4d72a8-8b35-4eb0-83ea-aa0733624136">146,985</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjEtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpmNTkxNTViNGZhY2M0YWRlODgwZDdjYzhhZjUwMzZjYl84MA_311f0ac6-2926-47ab-95f2-1935e8c54f8e">147,076</ix:nonFraction>, respectively)</span></div></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjEtMS0xLTEtNzI3MjY_7373ef44-8493-40b9-af56-a4a2f478fbf2">1,816,956</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjEtMy0xLTEtNzI3MjY_a7bf0c30-b562-4a61-829c-b3bffa76ab5b">1,817,664</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities held for sale</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjItMS0xLTEtNzI3MjY_98ed8077-2263-4e4f-8e0a-bb9e5af4e76f">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjItMy0xLTEtNzI3MjY_16606daf-dfa9-4e6a-b919-aea8f0ed47ba">271</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable and other liabilities (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjMtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo3YmRiNGFhNjVmYzA0OTg4YWEzMzJjM2VkNmJkNmUyMl82OA_592f0560-0925-4dcf-ad94-b5e76b7d49bc">2,375</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjMtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo3YmRiNGFhNjVmYzA0OTg4YWEzMzJjM2VkNmJkNmUyMl83Ng_c1b7bb79-1d6b-43b8-873c-672f0d177d03">2,477</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjMtMS0xLTEtNzI3MjY_55081ac8-8f7f-412c-9cf4-5b5e81391bc1">70,578</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjMtMy0xLTEtNzI3MjY_922360a7-5679-429f-bb18-b940beb3315d">70,551</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing obligation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LeaseDepositLiability" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjQtMS0xLTEtNzI3MjY_72ff8b71-319b-4700-aae7-d7f75a1c3ba8">458,207</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:LeaseDepositLiability" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjQtMy0xLTEtNzI3MjY_50082c2a-6113-4c77-a09b-ebbafd1d2136"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:LeaseDepositLiability" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjQtMy0xLTEtNzI3MjY_cb0a5c6b-113e-4a73-be13-c139feaa1ec6">448,319</ix:nonFraction></ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued offering costs</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="jllipt:AccruedOfferingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjUtMS0xLTEtNzI3MjY_7855d748-aa6e-41b9-bbc9-4d8ff91c52a6">154,773</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="jllipt:AccruedOfferingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjUtMy0xLTEtNzI3MjY_c332ad80-f70d-41eb-8e73-6e343489ac27">137,776</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued interest (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:InterestPayableCurrentAndNoncurrent" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpmZWY2Mjg2MWJmYTU0OTg4OGFhNDc5MjZmM2JjY2FlZl80Ng_fa603291-4175-40ac-b10c-ffec4bec1f14">389</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:InterestPayableCurrentAndNoncurrent" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpmZWY2Mjg2MWJmYTU0OTg4OGFhNDc5MjZmM2JjY2FlZl81NA_126fd996-f38f-488a-92ca-f28c2f04dc42">368</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:InterestPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjctMS0xLTEtNzI3MjY_8e32ceb7-e58b-4e6a-bcee-08f7fe5de188">3,340</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:InterestPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjctMy0xLTEtNzI3MjY_b11e4582-aad2-4912-b91d-99a6ebb6f64e">3,321</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued real estate taxes (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjgtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo5OTcyYWFjOTc1MGI0YmRkOWNiZDM3MjkzYTZmNGQ3Zl81NQ_611176a1-0413-4083-872e-67bdf02cf88b">612</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjgtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo5OTcyYWFjOTc1MGI0YmRkOWNiZDM3MjkzYTZmNGQ3Zl82Mw_9a10d905-a8d0-458b-a660-388b408286d8">679</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjgtMS0xLTEtNzI3MjY_fe3fd808-6f5e-4a04-8c75-2c7cbe3e1077">11,385</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjgtMy0xLTEtNzI3MjY_684ba724-28ad-4a62-b87b-6cbd3552e8ee">9,497</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Advisor fees payable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:DueToRelatedPartiesCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjktMS0xLTEtNzI3MjY_01c56b8a-4b55-46a2-9d9a-45b4d2937cae">11,877</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:DueToRelatedPartiesCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMjktMy0xLTEtNzI3MjY_7548d309-98cc-4760-ba4a-6ec07b7e9665">39,709</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquired intangible liabilities, net (including from VIEs of $<ix:nonFraction unitRef="usd" contextRef="i50006f404d6746b4b31e4cbdd07f66a8_I20220331" decimals="-3" name="jllipt:AcquiredIntangibleLiabilitiesNet" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzAtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpiMTU4MTJhMGNkZDM0ZGU0YTdmMTdjMmExNjA0NGZlM182Ng_bd3fa5f2-d698-45f5-a37c-cec2b6e9a7f9">510</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="if227d9be83534ec9bb2cb81dc6593e14_I20211231" decimals="-3" name="jllipt:AcquiredIntangibleLiabilitiesNet" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzAtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpiMTU4MTJhMGNkZDM0ZGU0YTdmMTdjMmExNjA0NGZlM183NA_e7fe7cb2-7c8a-4a02-b353-44ca70e205f7">541</ix:nonFraction>, respectively)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="jllipt:AcquiredIntangibleLiabilitiesNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzAtMS0xLTEtNzI3MjY_44a58646-8b22-4b5f-9b53-c5796ca2189e">29,855</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="jllipt:AcquiredIntangibleLiabilitiesNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzAtMy0xLTEtNzI3MjY_c66f3068-d9d5-48f5-ae87-64e1d5cb7742">31,022</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TOTAL LIABILITIES</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:Liabilities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzEtMS0xLTEtNzI3MjY_f290355e-f1ce-4d3b-82a7-45949ad6830f">2,556,971</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:Liabilities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzEtMy0xLTEtNzI3MjY_fb0c0844-dde1-4896-a03c-a9fb3a9f2c4b">2,558,130</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commitments and contingencies</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:CommitmentsAndContingencies" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzItMS0xLTEtNzI3MjY_03c43600-bec5-4ad9-9329-f9faadeccf61">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:CommitmentsAndContingencies" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzItMy0xLTEtNzI3MjY_4c85bb5b-e6c5-42a9-b105-6e301a78431a">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Redeemable noncontrolling interests</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzMtMS0xLTEtOTExMTI_22887136-130d-438e-a3ca-cd75f8a02efb">6,970</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzMtMy0xLTEtOTExMTQ_be271f1d-1fd0-483c-ad46-bf19e75e8236">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equity:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Class A common stock: $<ix:nonFraction unitRef="usdPerShare" contextRef="i43a8cc49250b4110987b3b7cc1c144de_I20220331" decimals="2" name="us-gaap:CommonStockParOrStatedValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzQtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo0N2JmMGQwMjBiYWM0ZjM4OTQzNTNkN2VjMDRiNWI4NF8yNw_b0b01115-e520-45b3-88b7-50e7774e16ad">0.01</ix:nonFraction> par value; <ix:nonFraction unitRef="shares" contextRef="i43a8cc49250b4110987b3b7cc1c144de_I20220331" decimals="0" name="us-gaap:CommonStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzQtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo0N2JmMGQwMjBiYWM0ZjM4OTQzNTNkN2VjMDRiNWI4NF80MQ_abc92422-595c-4c69-8bf6-72e73ed2505e">200,000,000</ix:nonFraction> shares authorized; <ix:nonFraction unitRef="shares" contextRef="i43a8cc49250b4110987b3b7cc1c144de_I20220331" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzQtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo0N2JmMGQwMjBiYWM0ZjM4OTQzNTNkN2VjMDRiNWI4NF82Mw_59ea9efa-caf2-47c7-a34f-1e1780b9fec2"><ix:nonFraction unitRef="shares" contextRef="i43a8cc49250b4110987b3b7cc1c144de_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzQtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo0N2JmMGQwMjBiYWM0ZjM4OTQzNTNkN2VjMDRiNWI4NF82Mw_9a661e46-0912-46b3-991e-7f5fbb9e8d28">104,576,961</ix:nonFraction></ix:nonFraction> and <ix:nonFraction unitRef="shares" contextRef="ib284ddbc5c0244588f03b46b0167d700_I20211231" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzQtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo0N2JmMGQwMjBiYWM0ZjM4OTQzNTNkN2VjMDRiNWI4NF83MA_4188bff0-69b1-40a9-b6d0-b1d4e7d66bf8"><ix:nonFraction unitRef="shares" contextRef="ib284ddbc5c0244588f03b46b0167d700_I20211231" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzQtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo0N2JmMGQwMjBiYWM0ZjM4OTQzNTNkN2VjMDRiNWI4NF83MA_65ef45f2-e88a-4bd1-8210-7c460f4ec5a1">100,038,362</ix:nonFraction></ix:nonFraction> shares issued and outstanding at March&#160;31, 2022 and December&#160;31, 2021, respectively </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i43a8cc49250b4110987b3b7cc1c144de_I20220331" decimals="-3" name="us-gaap:CommonStockValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzQtMS0xLTEtNzI3MjY_4ee61f25-2045-4243-b884-bc0718be1d3b">1,046</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ib284ddbc5c0244588f03b46b0167d700_I20211231" decimals="-3" name="us-gaap:CommonStockValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzQtMy0xLTEtNzI3MjY_1a27e9cb-93e2-4101-be9c-6ecf09d25eca">1,000</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Class M common stock: $<ix:nonFraction unitRef="usdPerShare" contextRef="i76a689ba6174470abd9a866c4eedd84a_I20220331" decimals="2" name="us-gaap:CommonStockParOrStatedValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzUtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjozMjQzMTBiYzg2YjY0OGUwYmI0MTJkM2QyZGU4NTA5ZV8yNw_76397913-a5af-475a-bd97-a366c16d97e0">0.01</ix:nonFraction> par value; <ix:nonFraction unitRef="shares" contextRef="i76a689ba6174470abd9a866c4eedd84a_I20220331" decimals="0" name="us-gaap:CommonStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzUtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjozMjQzMTBiYzg2YjY0OGUwYmI0MTJkM2QyZGU4NTA5ZV80MQ_55053419-4801-45a1-8ec5-a9992ed98aa6">200,000,000</ix:nonFraction> shares authorized; <ix:nonFraction unitRef="shares" contextRef="i76a689ba6174470abd9a866c4eedd84a_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzUtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjozMjQzMTBiYzg2YjY0OGUwYmI0MTJkM2QyZGU4NTA5ZV82Mw_8702dca3-91d6-4381-ae94-c898e2b7f1b3"><ix:nonFraction unitRef="shares" contextRef="i76a689ba6174470abd9a866c4eedd84a_I20220331" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzUtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjozMjQzMTBiYzg2YjY0OGUwYmI0MTJkM2QyZGU4NTA5ZV82Mw_e38377e2-365b-458c-ad4a-154a1aca156c">37,681,185</ix:nonFraction></ix:nonFraction> and <ix:nonFraction unitRef="shares" contextRef="i4e352d3a7cac481283d7f50b024e2069_I20211231" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzUtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjozMjQzMTBiYzg2YjY0OGUwYmI0MTJkM2QyZGU4NTA5ZV83MA_5825fab1-6add-4b5e-b4db-e897b2968c3e"><ix:nonFraction unitRef="shares" contextRef="i4e352d3a7cac481283d7f50b024e2069_I20211231" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzUtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjozMjQzMTBiYzg2YjY0OGUwYmI0MTJkM2QyZGU4NTA5ZV83MA_588e6537-f561-46ca-a66c-8d7f7646d5ae">36,458,191</ix:nonFraction></ix:nonFraction> shares issued and outstanding at March&#160;31, 2022 and December&#160;31, 2021, respectively </span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i76a689ba6174470abd9a866c4eedd84a_I20220331" decimals="-3" name="us-gaap:CommonStockValue" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzUtMS0xLTEtNzI3MjY_c94051be-87c1-4da9-99b8-0c9aa660dcbd">377</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i4e352d3a7cac481283d7f50b024e2069_I20211231" decimals="-3" name="us-gaap:CommonStockValue" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzUtMy0xLTEtNzI3MjY_b20079a5-21a3-4a63-940c-2d0b73d4007a">365</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Class A-I common stock: $<ix:nonFraction unitRef="usdPerShare" contextRef="if9353824faef406eb42a76feef61c616_I20220331" decimals="2" name="us-gaap:CommonStockParOrStatedValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzYtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODEyNTNkMTM0YWY0NmQ3YWVhYTMxYTAxMWU0NzgyYl8yOQ_5059c3bc-4728-4fef-a60a-08c443a8f3cc">0.01</ix:nonFraction> par value; <ix:nonFraction unitRef="shares" contextRef="if9353824faef406eb42a76feef61c616_I20220331" decimals="0" name="us-gaap:CommonStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzYtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODEyNTNkMTM0YWY0NmQ3YWVhYTMxYTAxMWU0NzgyYl80Mw_467d6413-410f-43da-87da-c234db400c88">200,000,000</ix:nonFraction> shares authorized; <ix:nonFraction unitRef="shares" contextRef="if9353824faef406eb42a76feef61c616_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzYtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODEyNTNkMTM0YWY0NmQ3YWVhYTMxYTAxMWU0NzgyYl82NQ_8a76921f-76be-45bf-8ae4-b1df0c8a54a1"><ix:nonFraction unitRef="shares" contextRef="if9353824faef406eb42a76feef61c616_I20220331" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzYtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODEyNTNkMTM0YWY0NmQ3YWVhYTMxYTAxMWU0NzgyYl82NQ_d7ce5a6c-9212-42c7-85f4-b96d1ac6f171">9,335,732</ix:nonFraction></ix:nonFraction> and <ix:nonFraction unitRef="shares" contextRef="i9fb21f7ebe3642dab87cadba7ba38d3f_I20211231" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzYtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODEyNTNkMTM0YWY0NmQ3YWVhYTMxYTAxMWU0NzgyYl83Mg_60b0c5d4-9d52-4dfc-97c9-4e312d3d5229"><ix:nonFraction unitRef="shares" contextRef="i9fb21f7ebe3642dab87cadba7ba38d3f_I20211231" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzYtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODEyNTNkMTM0YWY0NmQ3YWVhYTMxYTAxMWU0NzgyYl83Mg_766abc0d-8585-4b59-b788-cbf07eb4bfeb">9,356,309</ix:nonFraction></ix:nonFraction> shares issued and outstanding at March&#160;31, 2022 and December&#160;31, 2021, respectively </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="if9353824faef406eb42a76feef61c616_I20220331" decimals="-3" name="us-gaap:CommonStockValue" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzYtMS0xLTEtNzI3MjY_d47fb139-6750-4589-976e-a44c9b2a2d92">93</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i9fb21f7ebe3642dab87cadba7ba38d3f_I20211231" decimals="-3" name="us-gaap:CommonStockValue" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzYtMy0xLTEtNzI3MjY_684f4332-07d4-482c-8283-5995d3d8735a">94</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Class M-I common stock: $<ix:nonFraction unitRef="usdPerShare" contextRef="i4c35659b1f2544d780641d0f0bfc474d_I20220331" decimals="2" name="us-gaap:CommonStockParOrStatedValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpkOTM3Y2M1MGFkNzE0YzQ0YTY1MjZhYzA2YTMwOGU2NV8yOQ_363f29c8-a1e3-47bb-8bf7-740ac5e657f1">0.01</ix:nonFraction> par value; <ix:nonFraction unitRef="shares" contextRef="i4c35659b1f2544d780641d0f0bfc474d_I20220331" decimals="0" name="us-gaap:CommonStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpkOTM3Y2M1MGFkNzE0YzQ0YTY1MjZhYzA2YTMwOGU2NV80Mw_9512f0fd-ffd5-493b-8d4a-cf87a9ef60c2">200,000,000</ix:nonFraction> shares authorized; <ix:nonFraction unitRef="shares" contextRef="i4c35659b1f2544d780641d0f0bfc474d_I20220331" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpkOTM3Y2M1MGFkNzE0YzQ0YTY1MjZhYzA2YTMwOGU2NV82NQ_55ffc6d1-6c6b-4904-afc9-d4f4444a2755"><ix:nonFraction unitRef="shares" contextRef="i4c35659b1f2544d780641d0f0bfc474d_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpkOTM3Y2M1MGFkNzE0YzQ0YTY1MjZhYzA2YTMwOGU2NV82NQ_6b2e4940-d946-4c19-9adf-cf6137dc1228">61,681,208</ix:nonFraction></ix:nonFraction> and <ix:nonFraction unitRef="shares" contextRef="ie955b0605fb44083b907f52d4e71edac_I20211231" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpkOTM3Y2M1MGFkNzE0YzQ0YTY1MjZhYzA2YTMwOGU2NV83Mg_8f1e8893-98d5-4599-b3a1-8d8e4df8ca4d"><ix:nonFraction unitRef="shares" contextRef="ie955b0605fb44083b907f52d4e71edac_I20211231" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzctMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjpkOTM3Y2M1MGFkNzE0YzQ0YTY1MjZhYzA2YTMwOGU2NV83Mg_bb475d97-be85-4475-b10c-b7827d307508">52,676,693</ix:nonFraction></ix:nonFraction> shares issued and outstanding at March&#160;31, 2022 and December&#160;31, 2021, respectively </span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i4c35659b1f2544d780641d0f0bfc474d_I20220331" decimals="-3" name="us-gaap:CommonStockValue" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzctMS0xLTEtNzI3MjY_823ffc06-8af4-4f0c-aa8a-6baf661e24bd">617</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie955b0605fb44083b907f52d4e71edac_I20211231" decimals="-3" name="us-gaap:CommonStockValue" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzctMy0xLTEtNzI3MjY_933f79cd-9674-4471-b28c-20a2c9410984">527</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Class D common stock: $<ix:nonFraction unitRef="usdPerShare" contextRef="i7e99a59d4bb84efaaa36fd9cee277fe8_I20220331" decimals="2" name="us-gaap:CommonStockParOrStatedValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzgtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODE1OTIyZDA1ODE0YTUxYTFlNGI4NDE4NTZhN2YzNl8yNw_4e35a6a0-40c1-44eb-97b6-61336fcd8dd7">0.01</ix:nonFraction> par value; <ix:nonFraction unitRef="shares" contextRef="i7e99a59d4bb84efaaa36fd9cee277fe8_I20220331" decimals="0" name="us-gaap:CommonStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzgtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODE1OTIyZDA1ODE0YTUxYTFlNGI4NDE4NTZhN2YzNl80MQ_cb11e4d1-4e2b-4499-951b-1ad3d523080b">200,000,000</ix:nonFraction> shares authorized; <ix:nonFraction unitRef="shares" contextRef="i7e99a59d4bb84efaaa36fd9cee277fe8_I20220331" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzgtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODE1OTIyZDA1ODE0YTUxYTFlNGI4NDE4NTZhN2YzNl82Mw_33121c12-a5d3-4e89-98c4-7bb498844d29"><ix:nonFraction unitRef="shares" contextRef="i7e99a59d4bb84efaaa36fd9cee277fe8_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzgtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODE1OTIyZDA1ODE0YTUxYTFlNGI4NDE4NTZhN2YzNl83MA_54c70015-6e8d-4f23-a17e-42b061ff0142"><ix:nonFraction unitRef="shares" contextRef="iadc66bdb94394124adfb55e6a0b72e47_I20211231" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzgtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplODE1OTIyZDA1ODE0YTUxYTFlNGI4NDE4NTZhN2YzNl83MA_b88ec876-4a80-4426-a59f-54b83a3c5309">7,513,281</ix:nonFraction></ix:nonFraction> shares issued and outstanding at March&#160;31, 2022 and December&#160;31, 2021, respectively </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i7e99a59d4bb84efaaa36fd9cee277fe8_I20220331" decimals="-3" name="us-gaap:CommonStockValue" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzgtMS0xLTEtNzI3MjY_0569f9ed-00a1-4473-b527-a437d921f246">60</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iadc66bdb94394124adfb55e6a0b72e47_I20211231" decimals="-3" name="us-gaap:CommonStockValue" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzgtMy0xLTEtNzI3MjY_2f3b64a8-1961-41fc-a583-f091902a7ecf">75</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additional paid-in capital (net of offering costs of $<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="jllipt:Accumulatedstockissuancecosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzktMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplYjkxMjEwYzgyMWU0MzNiODcxOWQ3OWM5ZWMwY2YxNF81OA_8aaae574-e1fc-44f6-87c3-8b2e9c7e0521">286,136</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="jllipt:Accumulatedstockissuancecosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzktMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjplYjkxMjEwYzgyMWU0MzNiODcxOWQ3OWM5ZWMwY2YxNF82Ng_49b69311-582b-4e61-a2d9-c78269726551">264,066</ix:nonFraction>  as of March&#160;31, 2022 and December&#160;31, 2021, respectively)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:AdditionalPaidInCapitalCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzktMS0xLTEtNzI3MjY_10b1b40c-c108-45c3-8efd-f4af3a218eb3">2,448,952</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:AdditionalPaidInCapitalCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfMzktMy0xLTEtNzI3MjY_806527a9-db28-43bd-8c59-ddd47d941973">2,284,839</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distributions to stockholders</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:AccumulatedDistributionsInExcessOfNetIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDEtMS0xLTEtNzI3MjY_c054d538-abad-4e1f-a3b1-4fcb3124864d">601,310</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:AccumulatedDistributionsInExcessOfNetIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDEtMy0xLTEtNzI3MjY_2eda56cc-cf6f-400b-9633-dde97b60160c">573,963</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 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style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:RetainedEarningsAccumulatedDeficit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDItMy0xLTEtNzI3MjY_b8ab027b-38f4-4e5c-b9fc-0286ede6a81d">34,398</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Jones Lang LaSalle Income Property Trust, Inc. stockholders&#8217; equity</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:StockholdersEquity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDMtMS0xLTEtNzI3MjY_69884261-fa8e-494f-8a97-0a4a9a5dce1e">1,919,120</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:StockholdersEquity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDMtMy0xLTEtNzI3MjY_551960a1-1961-4bb4-b647-4feef90e7ba4">1,747,335</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Noncontrolling interests</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:MinorityInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDQtMS0xLTEtNzI3MjY_b7213069-a812-4b53-baeb-a1b26b195342">93,166</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New 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colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDUtMS0xLTEtNzI3MjY_db8bfba9-c832-4d56-bfab-ee953b254102">2,012,286</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDUtMy0xLTEtNzI3MjY_56747e3f-ffbd-4ab3-a71c-e30e848e4ece">1,844,116</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TOTAL LIABILITIES AND EQUITY</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LiabilitiesAndStockholdersEquity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDYtMS0xLTEtNzI3MjY_ff216198-3f78-4ac0-9650-20e2b648a13e">4,576,227</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:LiabilitiesAndStockholdersEquity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMy9mcmFnOjgwNjhlYWEwNmM4ODQ2YzFhYzdjYjkxNjdlNzM5ZjUxL3RhYmxlOmUzNDg5ZDMwYmEzMjRhZmY5ZjM4YjUwZTA5NzhjZjk0L3RhYmxlcmFuZ2U6ZTM0ODlkMzBiYTMyNGFmZjlmMzhiNTBlMDk3OGNmOTRfNDYtMy0xLTEtNzI3MjY_b940cec1-e3a0-4f06-ba8a-fa25f4974019">4,402,246</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double 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style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Jones Lang LaSalle Income Property Trust, Inc.</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CONSOLIDATED STATEMENTS OF OPERATIONS</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$ in thousands, except share and per share amounts</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</span></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:69.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.145%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.512%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.146%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues:</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Rental revenue</span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMi0xLTEtMS03MjcyNg_d0ef4c64-1de7-437e-ae79-d865fceafc8a">74,955</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMi0zLTEtMS03MjcyNg_2caa07a4-a76c-478f-9aa3-6e37521bbc51">50,731</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other revenue</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" format="ixt:num-dot-decimal" scale="3" 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMy0zLTEtMS03MjcyNg_88c921d6-1518-403b-b6dc-ae69187727af">1,850</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total revenues</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNC0xLTEtMS03MjcyNg_af11e99d-2f2d-40da-ba01-94e064681747">77,171</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNC0zLTEtMS03MjcyNg_8b929074-1033-4dd6-a8e5-9ae3a1f49774">52,581</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating expenses:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Real estate taxes</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNi0xLTEtMS03MjcyNg_88329006-d065-417f-bc54-cd1b670be34b">11,311</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNi0zLTEtMS03MjcyNg_23f0561a-b362-4a06-b3bf-ce490b5dd394">8,086</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Property operating expenses</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNy0xLTEtMS03MjcyNg_74f4e6ac-a536-4d3a-880c-38bea105764b">14,001</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNy0zLTEtMS03MjcyNg_035bd7c8-8ae2-46b9-83f8-feef793ef5b5">9,911</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Property general and administrative</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfOS0xLTEtMS03MjcyNg_69f618d5-af0c-41a0-b80f-2c748c0ae8b7">697</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfOS0zLTEtMS03MjcyNg_dac58d1b-7623-4fa0-836f-bafdd8c6a258">660</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Advisor fees</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 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style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Company level expenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="jllipt:FundLevelExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMTEtMS0xLTEtNzI3MjY_037e9a5e-8f21-4366-853b-32182a43100b">1,074</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="jllipt:FundLevelExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMTEtMy0xLTEtNzI3MjY_100d7de9-5bb1-44c4-bf3d-d3a47ee9e2bd">1,193</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:DepreciationAndAmortization" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMTQtMS0xLTEtNzI3MjY_1bc7086c-8a80-450e-8e23-20d8703dab65">32,974</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:DepreciationAndAmortization" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMTQtMy0xLTEtNzI3MjY_9ce237ad-d516-46ff-974f-50f4bc4275c5">19,945</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total operating expenses</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMTUtMS0xLTEtNzI3MjY_90c8497c-c1fd-49c2-9568-5b2d99bbe573">77,915</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMTUtMy0xLTEtNzI3MjY_21c7e1aa-05ce-4a9a-923b-cc81f3581e01">46,120</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other income (expenses):</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:InterestExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMTgtMS0xLTEtNzI3MjY_bdb0394f-bb5c-4f25-84ab-e0201bd7fe65">17,852</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:InterestExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMTgtMy0xLTEtNzI3MjY_7a5370e8-2719-4391-84f7-82bd0a6ea755">9,262</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income (loss) from unconsolidated real estate affiliates and fund investments</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjEtMS0xLTEtNzI3MjY_91beece2-8bd8-41ae-b41f-fd4af6a2b895">29,025</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" sign="-" name="us-gaap:IncomeLossFromEquityMethodInvestments" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjEtMy0xLTEtNzI3MjY_292ea2ba-d13e-4571-8d53-18496d1634fd">339</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Investment income on marketable securities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:InvestmentIncomeDividend" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjMtMS0xLTEtNzI3MjY_6ab79997-bd15-4840-9dda-874a16d912f3">304</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:InvestmentIncomeDividend" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjMtMy0xLTEtNzI3MjY_326d1b93-b59b-40c0-abc7-8680299cbfa6">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net realized gain upon sale of marketable securities</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:EquitySecuritiesFvNiRealizedGainLoss" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjQtMS0xLTEtNzI3MjY_574bde88-48d4-4388-9a46-73a76a4e92bf">79</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:EquitySecuritiesFvNiRealizedGainLoss" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjQtMy0xLTEtNzI3MjY_2302c125-4c09-4815-b9d5-71f115878930">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net unrealized change in fair value of investment in marketable securities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" sign="-" name="us-gaap:EquitySecuritiesFvNiUnrealizedGainLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjUtMS0xLTEtNzI3MjY_f144a27e-342a-4c9f-adee-386cce23f4da">2,984</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:EquitySecuritiesFvNiUnrealizedGainLoss" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjUtMy0xLTEtNzI3MjY_e01ec622-5aab-4ab3-b9b3-c399e5b0e9f4">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on disposition of property and extinguishment of debt, net</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjYtMS0xLTEtNzI3MjY_577f9c95-3c62-4773-801e-67551f4f6701">31,492</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjYtMy0xLTEtNzI3MjY_8c37b9d6-bec5-4a22-b63b-64620d3d08f2">33,422</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total other income and (expenses)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:OtherNonoperatingIncomeExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjktMS0xLTEtNzI3MjY_d846a3ba-2e46-419a-9bb0-0a2019f0b82b">40,064</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:OtherNonoperatingIncomeExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMjktMy0xLTEtNzI3MjY_36851343-b48a-4071-a246-006cc0fbdcdf">23,821</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net income</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMzQtMS0xLTEtNzI3MjY_363fc4ce-faaa-4374-9cee-175fdaad2bff">39,320</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMzQtMy0xLTEtNzI3MjY_6904295e-045e-4de4-8fcf-2d63d9286527">30,282</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less: Net income attributable to the noncontrolling interests</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMzUtMS0xLTEtNzI3MjY_7f6f7246-c148-4941-8f26-66f83e38cdf4">1,385</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMzUtMy0xLTEtNzI3MjY_d6bfa6c8-314f-46d8-879d-046741bff452">177</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net income attributable to Jones Lang LaSalle Income Property Trust, Inc.</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:NetIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMzYtMS0xLTEtNzI3MjY_2888b1a2-ccfa-4adc-a77b-1c0586f84082">37,935</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:NetIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfMzYtMy0xLTEtNzI3MjY_98cd3e00-b33f-4341-b533-46443cf59334">30,105</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net income attributable to Jones Lang LaSalle Income Property Trust, Inc. per share-basic and diluted:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Class A</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i6cd9b1d83d0e46b8b45cf29d9083a32c_D20220101-20220331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDAtMS0xLTEtNzI3MjY_8e37b0e2-5c10-4562-a13e-ffcfa6659c99">0.18</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="ida688954e7c647d9a22cb80b8fe1ede2_D20210101-20210331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDAtMy0xLTEtNzI3MjY_e27ab31f-cc37-45f2-851a-9b0b1a26478d">0.17</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Class M</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDEtMS0xLTEtNzI3MjY_59d5ccc3-579d-4887-8248-1b64b19a4f96">0.18</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i62013d14f2084edfb52ad4a4e219de6c_D20210101-20210331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDEtMy0xLTEtNzI3MjY_ecd8e206-f1b9-4ca5-b013-ea928101db17">0.17</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Class A-I</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDItMS0xLTEtNzI3MjY_b23f1d1a-eee9-4ef2-9f7b-99f464c1016a">0.18</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i5f1761ad78c14ea89c328476f195e749_D20210101-20210331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDItMy0xLTEtNzI3MjY_2218d532-ae32-43bb-893a-b8e388d12ee7">0.17</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Class M-I</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDMtMS0xLTEtNzI3MjY_5c82f054-a9a1-419e-a486-947e5f7698ef">0.18</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="iaaa867f431e447459f22d44d4344c1ca_D20210101-20210331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDMtMy0xLTEtNzI3MjY_d6a51137-36d6-48fd-81a8-72f9dc3df6cb">0.17</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Class D</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDUtMS0xLTEtNzI3MjY_def473a4-12aa-4ba7-9e8f-0373cc692980">212,104,884</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="0" name="jllipt:WeightedAverageNumberOfOutstandingSharesBasicAndDiluted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xNi9mcmFnOmM0ZDEzNDBkZTY1MDQ3YTdhMjNlNzI4MzcxODVhMzMyL3RhYmxlOjkzYjM4YzBlZjVkMDRkMzc5YTA4NTYwYTdmZThhNmY1L3RhYmxlcmFuZ2U6OTNiMzhjMGVmNWQwNGQzNzlhMDg1NjBhN2ZlOGE2ZjVfNDUtMy0xLTEtNzI3MjY_0fde5aaf-9e20-421a-ab31-883abb26973e">174,765,072</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See notes to consolidated financial statements.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_19"></div><hr style="page-break-after:always"/><div style="min-height:14.4pt;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Jones Lang LaSalle Income Property Trust, Inc.</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CONSOLIDATED STATEMENTS OF EQUITY</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$ in thousands, except share and per share amounts (Unaudited)</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.786%"><tr><td style="width:1.0%"></td><td style="width:28.450%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.214%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.335%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.786%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.335%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.335%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.335%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.570%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.335%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.335%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.792%"></td><td style="width:0.1%"></td></tr><tr style="height:11pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Common Stock</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additional Paid <br/>In Capital</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="2" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Distributions to&#160;<br/>Stockholders</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Retained Earnings / (Accumulated Deficit)</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Noncontrolling<br/>Interests</span></td><td colspan="3" rowspan="2" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total<br/>Equity</span></td></tr><tr style="height:11pt"><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance, January 1, 2021</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i22de50c8d60748458e68382918244c05_I20201231" decimals="0" name="us-gaap:SharesIssued" format="ixt:num-dot-decimal" scale="0" 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style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i22de50c8d60748458e68382918244c05_I20201231" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMi0zLTEtMS03MjcyNg_d1cf8b38-5db5-406b-a1e6-376f7d4bff5d">1,731</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i842aa2ce44a24f43b264b715e1572f83_I20201231" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" 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style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="if20b459695ed459898eee120b4ff1322_I20201231" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" 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0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ib9f26d5007134f89a5cd627ed2bd0296_I20201231" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueNewIssues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMy0xNS0xLTEtNzI3MjY_1eddc65c-07ea-450e-b911-da4c06749d0f">103,015</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Repurchase of shares</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction 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style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 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Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6f111d92b04f4d8f91b3446e2d380725_D20210101-20210331" decimals="-3" name="us-gaap:ConversionOfStockAmountIssued1" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfNS0xNS0xLTEtNzI3MjY_70ff180d-8c0a-40f6-b671-e9174750ad00">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Offering costs</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i689409890e0347ae909fd7575c8572d0_D20210101-20210331" decimals="-3" name="us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfNi01LTEtMS03MjcyNg_76984079-effd-4f6b-8d46-3d920b38aca2">6,246</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfNi0xNS0xLTEtNzI3MjY_f395a5d6-5d34-4d46-8c8f-d7cb527d9ae6">6,246</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Stock based compensation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfNy01LTEtMS03MjcyNg_25297244-6506-4703-8507-107341d5ced7">189</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensationGross" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfNy0xNS0xLTEtNzI3MjY_7cc97392-1280-4a08-924b-002081ca4fa3">189</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times 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2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ied885700e00e4a6194787c401cc89af7_D20210101-20210331" decimals="-3" name="us-gaap:ProfitLossFromRealEstateOperations" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfOC0xMS0xLTEtNzI3MjY_9d694a0b-be6f-41f5-997a-529ed064188a">30,105</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ifb36653f8c1f4911b32db832e7883e15_D20210101-20210331" decimals="-3" name="us-gaap:ProfitLossFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfOC0xMy0xLTEtNzI3MjY_3e73510a-58a9-4161-b29a-55517ac3879d">177</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash distributed to noncontrolling interests</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ifb36653f8c1f4911b32db832e7883e15_D20210101-20210331" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTAtMTMtMS0xLTcyNzI2_119e5b22-a551-4178-90c2-b51f0f813d43">194</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTAtMTUtMS0xLTcyNzI2_fce130a1-e1e8-4075-ad57-e728630ea94c">194</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distributions declared per share ($<ix:nonFraction unitRef="usdPerShare" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="3" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTEtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjozODE3YWQ0MzAxYWE0Yzg5YjViODc5ZGJlYTUzOTFiZl8zOA_bc1ff7da-785b-42eb-800f-d7bf864a0c58">0.135</ix:nonFraction>) </span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i48af7edff317454ead05df02cf7569b9_D20210101-20210331" decimals="-3" name="us-gaap:DividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTEtOS0xLTEtNzI3MjY_1908a38a-4f20-4aeb-a78d-f5f8d95a4d24">21,621</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:DividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTEtMTUtMS0xLTcyNzI2_4e3d2546-e1c6-4a9e-94b6-62720adc1c53">21,621</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance, March&#160;31, 2021</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="iace3b2f651754818b95ed55e5442160a_I20210331" decimals="0" name="us-gaap:SharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTItMS0xLTEtNzI3MjY_e78f7702-5555-4401-ab6f-8fc1f739b81f">178,048,517</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iace3b2f651754818b95ed55e5442160a_I20210331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTItMy0xLTEtNzI3MjY_b06c76c2-5af9-4c57-a471-c6ebf625d2d1">1,780</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i1e2e4f66588b4152a91efaa9022f2228_I20210331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTItNS0xLTEtNzI3MjY_1deaa5f2-d4fe-4ce1-8bf8-5b9c5a565038">1,974,251</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2dccedcc9c694bd4af5389f8875c95b9_I20210331" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTItOS0xLTEtNzI3MjY_148cc3e7-c203-4565-8edb-72194fb79b44">503,381</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibb21bf21817f44e8955ec0bbec4264ab_I20210331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTItMTEtMS0xLTcyNzI2_b6c9d977-60e6-413d-96bf-da05cd102946">15,382</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i97a6e889a8f8413aacd5101c6630a3fb_I20210331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTItMTMtMS0xLTcyNzI2_f2e42cfb-6ad8-4066-808f-ae52c20ec374">20,022</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i995b8031bc024c249052abce8711dcf9_I20210331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMTItMTUtMS0xLTcyNzI2_df03a773-fdf8-4785-8c3e-21dfadac689a">1,508,054</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance, January 1, 2022</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ie4ca361e23994bdbb88bb96021da825b_I20211231" decimals="0" name="us-gaap:SharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMjctMS0xLTEtNzI3MjY_5233f084-ad22-49a8-92a8-dcdc38773714">206,042,836</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie4ca361e23994bdbb88bb96021da825b_I20211231" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMjctMy0xLTEtNzI3MjY_0697cc34-bfea-4d8a-a48e-50294705b650">2,061</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ib46d6c776be746129b29a49076626618_I20211231" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMjctNS0xLTEtNzI3MjY_1cdb9d32-243d-4995-a543-d9b8fe21aac0">2,284,839</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="idd17e970eaa547249e2c992585c28162_I20211231" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMjctOS0xLTEtNzI3MjY_f2470c52-4822-44f3-a643-4a186265db84">573,963</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New 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0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueNewIssues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMjgtMTUtMS0xLTcyNzI2_d4ba4ecd-c95d-4f12-9319-28160d893ac6">227,251</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMjktMS0xLTEtNzI3MjY_af467bf6-b6a4-45b6-a14c-6bfaa5d75172">3,012,118</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="iec4f1c6211f14197a368fd2716c78e76_D20220101-20220331" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" scale="3" 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMjktNS0xLTEtNzI3MjY_5d20eeb2-0aee-4dd6-90f2-3c29fe2c2f09">41,236</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzAtMTUtMS0xLTcyNzI2_10f25485-da8e-4c90-a128-2c28299e8e54">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Offering costs</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New 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style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6d33c76c22454556962dd6a6600beece_D20220101-20220331" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensationGross" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzItNS0xLTEtNzI3MjY_c7d27df4-b0e6-49ee-b243-ff2678898656">330</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzMtMTEtMS0xLTcyNzI2_bf1c7f7b-16ac-4368-9213-583d65927957">37,935</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="if67d92ea45c6463dbf016488fab691f9_D20220101-20220331" decimals="-3" name="us-gaap:ProfitLossFromRealEstateOperations" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzMtMTMtMS0xLTcyNzI2_829224b0-521a-46f3-ba98-b7c440d2e521">1,385</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProfitLossFromRealEstateOperations" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzMtMTUtMS0xLTcyNzI2_d0a36710-4c07-44fd-a73c-f19777a154a0">39,320</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash distributed to noncontrolling interests</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="if67d92ea45c6463dbf016488fab691f9_D20220101-20220331" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzUtMTMtMS0xLTcyNzI2_b5c5ce12-9e5c-45c7-b06a-b3c5f0da35c1">1,078</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzUtMTUtMS0xLTcyNzI2_7a2114de-efec-4342-885c-19969e6304af">1,078</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Allocation to redeemable noncontrolling interests</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" sign="-" name="us-gaap:AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzYtMTEtMS0xLTkxMTU1_e3dff2ee-b618-4477-8415-9534ad40deab">3,048</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,922)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,970)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distributions declared per share ($<ix:nonFraction unitRef="usdPerShare" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="3" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzYtMC0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo2OTAxNzQ2ZGQyNTY0MWE1OTQzODJlZWE4YWRjNjFkNF8zOA_10962245-1a25-47cf-bdde-589443ce5393">0.140</ix:nonFraction>) </span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i1559877aa2644ef8bde67696f569c887_D20220101-20220331" decimals="-3" name="us-gaap:DividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzYtOS0xLTEtNzI3MjY_c0884672-306a-4c28-a0b6-b7fa7548e991">27,347</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:DividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzYtMTUtMS0xLTcyNzI2_2100fc0e-af76-4d4b-bf14-1ba812e36ec3">27,347</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Balance, March&#160;31, 2022</span></div></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i13cce87b4c384aacbde92c211995260f_I20220331" decimals="0" name="us-gaap:SharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzctMS0xLTEtNzI3MjY_a1b55168-f791-4936-9fe6-e3f56fd2a3e8">219,316,697</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i13cce87b4c384aacbde92c211995260f_I20220331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" 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#000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0fdb8e504883489a8af5b9c776bea8c4_I20220331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzctNS0xLTEtNzI3MjY_15dd1cb2-527a-4d2a-9868-da1238010b3f">2,448,952</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i0cc64b08cdc74ed58243a32804ac2d71_I20220331" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzctOS0xLTEtNzI3MjY_69246a21-1908-47c1-802e-ec27f394c4e8">601,310</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i1ff94526d9dd40ec8670ccadaef8df5e_I20220331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzctMTEtMS0xLTcyNzI2_f289e2ef-b9f6-44e3-a7b8-1ba06f5d183f">69,285</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i5a53f9fcb2e64d7e9e2877db20310f49_I20220331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzctMTMtMS0xLTcyNzI2_b8913286-3e5e-4aa9-896a-5c3fde8b7166">93,166</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xOS9mcmFnOmRmOTI3NDQ2ZjMwYjQxMmFiMGJlMjVhM2UxN2M2YWUzL3RhYmxlOmZmNjc5Y2FlZjNkYTRlNThiODA5ODY2ODkxZmU0ZTVjL3RhYmxlcmFuZ2U6ZmY2NzljYWVmM2RhNGU1OGI4MDk4NjY4OTFmZTRlNWNfMzctMTUtMS0xLTcyNzI2_2b510595-26e1-4173-aba4-f536e3a1de41">2,012,286</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">See notes to consolidated financial statements.</span></div><div style="height:14.4pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_22"></div><hr style="page-break-after:always"/><div style="min-height:36pt;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Jones Lang LaSalle Income Property Trust, Inc.</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CONSOLIDATED STATEMENTS OF CASH FLOWS</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$ in thousands (Unaudited)</span></div><div style="margin-top:10pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:67.421%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.274%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">CASH FLOWS FROM OPERATING ACTIVITIES:</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net income</span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" 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Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMi0zLTEtMS03MjcyNg_61c0da3f-3a75-4071-85cb-f9d9701a8352">30,282</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments to reconcile net income to net cash (used in) provided by operating activities:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:Depreciation" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNC0xLTEtMS03MjcyNg_bcf3bf86-4e26-44fc-8fa4-6110a554bd19">32,719</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:Depreciation" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNC0zLTEtMS03MjcyNg_9372a7b2-30ea-4c00-9abb-e923019687c3">19,630</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on disposition of property and extinguishment of debt</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:GainLossOnSaleOfPropertyPlantEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNS0xLTEtMS03MjcyNg_75eee220-fac1-4b21-b36a-8747ae5f116a">31,492</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:GainLossOnSaleOfPropertyPlantEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNS0zLTEtMS03MjcyNg_cfa0ca34-70c6-4d22-9b1d-3a94b41914a6">33,422</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNy0xLTEtMS03MjcyNg_1a76d827-bfe2-4dd1-a4a3-45d1eae68dee">79</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:EquitySecuritiesFvNiRealizedGainLoss" format="ixt:fixed-zero" scale="3" 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Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:EquitySecuritiesFvNiUnrealizedGainLoss" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfOC0zLTEtMS03MjcyNg_22f94d3b-4685-4ce7-a858-b1b9e53ac680">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Straight line rent</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" sign="-" name="us-gaap:StraightLineRentAdjustments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfOS0xLTEtMS03MjcyNg_708c1179-efed-438e-8aab-88fdea555f20">1,646</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" sign="-" name="us-gaap:StraightLineRentAdjustments" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfOS0zLTEtMS03MjcyNg_a150335f-48e6-4466-9e7d-761b2320b196">129</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Income) loss from unconsolidated real estate affiliates and fund investments</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTEtMS0xLTEtNzI3MjY_67e1abe5-5b4b-4e7c-8daa-a2f6bda6177c">29,025</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" sign="-" name="us-gaap:IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTEtMy0xLTEtNzI3MjY_50150496-bbee-46fa-951d-d581f389390a">339</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Distributions from unconsolidated real estate affiliates and fund investments</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:OtherOperatingActivitiesCashFlowStatement" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTItMS0xLTEtNzI3MjY_a39736b9-b45d-4bdb-ba0a-4ced593f41d7">5,097</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:OtherOperatingActivitiesCashFlowStatement" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTItMy0xLTEtNzI3MjY_8491ee58-4746-46b3-82de-b6c991f30ea6">1,850</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net changes in assets, liabilities and other</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTMtMS0xLTEtNzI3MjY_7052bf8b-dbf3-4a98-bcf4-915211591c0c">31,609</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTMtMy0xLTEtNzI3MjY_fea48dc7-01c4-432f-89f3-001565c6f33f">1,378</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net cash (used in) provided by operating activities</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" sign="-" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTQtMS0xLTEtNzI3MjY_3daa57b7-d31e-414f-a7f4-b3d51e16e1d3">13,731</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTQtMy0xLTEtNzI3MjY_d2e3cb0f-18d7-4821-a2a2-d7a62fbc07c2">17,172</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">CASH FLOWS FROM INVESTING ACTIVITIES:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Purchase of real estate investments</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsToAcquireCommercialRealEstate" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTYtMS0xLTEtNzI3MjY_6de3f38a-2d78-4fd6-b34c-65c0bd197f53">153,896</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsToAcquireCommercialRealEstate" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTYtMy0xLTEtNzI3MjY_bbf57512-a970-49f2-9bf4-095172e81f05">226,925</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from sale of real estate investments and fixed assets</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromSaleOfRealEstateHeldforinvestment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTctMS0xLTEtNzI3MjY_931d7d73-8f6e-4cc4-beb3-310d629ac9c7">74,602</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:ProceedsFromSaleOfRealEstateHeldforinvestment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTctMy0xLTEtNzI3MjY_4326d8c5-447e-4c64-ba28-881e43a42009">66,992</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Capital improvements and lease commissions</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsForCapitalImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTgtMS0xLTEtNzI3MjY_00937ee0-26cb-4086-ad73-98f13d0ea65c">3,740</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsForCapitalImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMTgtMy0xLTEtNzI3MjY_55c756b1-fc11-4ad0-b85a-19030252a77f">3,758</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Investment in unconsolidated real estate affiliates</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsToAcquireInterestInSubsidiariesAndAffiliates" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjAtMS0xLTEtNzI3MjY_c272c61c-27a2-4a77-8723-4d1bdb64f9cf">7</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsToAcquireInterestInSubsidiariesAndAffiliates" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjAtMy0xLTEtNzI3MjY_c410db50-8ee2-4374-bbc3-f66d1bbe8ca6">677</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deposits for investments under contract</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsToAcquireOtherInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjEtMS0xLTEtNzI3MjY_18db5f35-1d14-4331-9147-d02e55ef1320">1,350</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsToAcquireOtherInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjEtMy0xLTEtNzI3MjY_486b25b3-0bf4-4c0d-8ced-12503a279097">2,500</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Investment in marketable securities</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsToAcquireMarketableSecurities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjUtMS0xLTEtNzI3MjY_cfd3981b-ba97-4b12-9b31-ff032e543cb2">4,646</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsToAcquireMarketableSecurities" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjUtMy0xLTEtNzI3MjY_1a16aa77-9305-488e-a206-223a28e41cae">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from sale of marketable securities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromSaleAndMaturityOfMarketableSecurities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjYtMS0xLTEtNzI3MjY_45abfa67-3105-4e41-bb84-dd4653db3283">4,348</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:ProceedsFromSaleAndMaturityOfMarketableSecurities" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjYtMy0xLTEtNzI3MjY_674ee513-58c3-4dc4-a91b-b0cf0f4e4b32">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net cash used in investing activities</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" sign="-" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjctMS0xLTEtNzI3MjY_02444067-a808-4e69-a3ee-d18ae5d566e0">84,689</ix:nonFraction>)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" sign="-" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjctMy0xLTEtNzI3MjY_e0978615-2f4f-447e-b627-f534331f5dd6">166,868</ix:nonFraction>)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">CASH FLOWS FROM FINANCING ACTIVITIES:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Issuance of common stock</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjktMS0xLTEtNzI3MjY_6f6921b2-6aa9-4c23-b484-d17056c12da1">217,977</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMjktMy0xLTEtNzI3MjY_533d0854-659f-4fc6-9602-66742611e76b">152,181</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Repurchase of shares</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsForRepurchaseOfCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzAtMS0xLTEtNzI3MjY_ce54897e-fc02-47af-b344-823bf70da3d2">41,266</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsForRepurchaseOfCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzAtMy0xLTEtNzI3MjY_0c9364e1-973c-4395-ad7a-ae0e16b7ef79">44,794</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Offering costs</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsOfStockIssuanceCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzItMS0xLTEtNzI3MjY_ec779562-871a-44a7-bee3-cc5b18fec792">2,273</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsOfStockIssuanceCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzItMy0xLTEtNzI3MjY_6aa6cc68-bcd1-4e53-be27-ae745dd7010e">3,840</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Distributions to stockholders</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsOfOrdinaryDividends" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzMtMS0xLTEtNzI3MjY_2a3610b3-b81c-4e86-be3c-bbb09f7528b7">9,681</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsOfOrdinaryDividends" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzMtMy0xLTEtNzI3MjY_444d278b-8b3f-4302-95d7-1a49579d8806">7,887</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Distributions paid to noncontrolling interests</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsToMinorityShareholders" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzQtMS0xLTEtNzI3MjY_8b457cca-7ad6-4df8-83dc-6f5a0623803d">1,078</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsToMinorityShareholders" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzQtMy0xLTEtNzI3MjY_db39685d-7d8b-4b2e-9383-6f747a4ea23d">194</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deposits for loan commitments </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsForProceedsFromDepositOnLoan" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzYtMS0xLTEtNzI3MjY_d0f4422c-c7eb-43bd-a470-3ba854924d7a">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsForProceedsFromDepositOnLoan" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzYtMy0xLTEtNzI3MjY_7a3e47d2-ef65-479f-8ca7-e68b1040fcc2">2,093</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Draws on credit facility</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzctMS0xLTEtNzI3MjY_c4479316-45dc-4105-a382-37ac26c8f753">110,000</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzctMy0xLTEtNzI3MjY_f7ad4a57-9496-44f7-9a23-718d7d6ad5b1">140,000</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Payment on credit facility</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:RepaymentsOfLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzgtMS0xLTEtNzI3MjY_eae8458d-1a75-45e3-a7e8-388abaf480eb">205,000</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:RepaymentsOfLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzgtMy0xLTEtNzI3MjY_0e3be5ab-2f4d-4905-9799-78742b7383e1">100,000</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from mortgage notes and other debt payable</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzktMS0xLTEtNzI3MjY_143e336f-8087-468b-bc5e-0bc46e44510b">95,800</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfMzktMy0xLTEtNzI3MjY_471e94b1-4289-4255-b3df-b7c24753f391">70,030</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Debt issuance costs</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsOfDebtIssuanceCosts" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDAtMS0xLTEtNzI3MjY_9008308e-f4da-4c91-99ac-0da2e33de298">18</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsOfDebtIssuanceCosts" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDAtMy0xLTEtNzI3MjY_260bc58c-7d5d-401c-87f5-c7d961716274">436</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Payment on early extinguishment of debt</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsOfDebtExtinguishmentCosts" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDEtMS0xLTEtNzI3MjY_0366a8ef-0731-480e-8e52-6a7c364b53b8">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsOfDebtExtinguishmentCosts" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDEtMy0xLTEtNzI3MjY_df6c79cb-e9a1-4c8a-96b6-d06047436e2d">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Principal payments on mortgage notes and other debt payable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:RepaymentsOfSecuredDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDItMS0xLTEtNzI3MjY_6878613f-02d6-40c7-a49f-37750a154a41">1,947</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:RepaymentsOfSecuredDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDItMy0xLTEtNzI3MjY_79c1e5cc-c2c2-4c01-b313-bc8d0a0b2ea7">81,925</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net cash provided by financing activities</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDMtMS0xLTEtNzI3MjY_b485c7b8-e5f7-4d18-8dfa-35f5cefb0b8f">162,514</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDMtMy0xLTEtNzI3MjY_eebc9df8-0127-4850-b539-b1d6a3e19c24">121,042</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net increase in cash, cash equivalents and restricted cash</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDQtMS0xLTEtNzI3MjY_e7b50f06-f640-4566-b837-7159a077ed32">64,094</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" sign="-" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDQtMy0xLTEtNzI3MjY_f29fc2c5-fedb-4c5d-8c29-600cb149c9cc">28,654</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash, cash equivalents and restricted cash at the beginning of the period</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDYtMS0xLTEtNzI3MjY_c0d51c11-4cec-49c4-92bd-3f638caffbc5">121,482</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ib9f26d5007134f89a5cd627ed2bd0296_I20201231" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDYtMy0xLTEtNzI3MjY_70f6a077-8e51-4896-9828-6faa61af9839">101,434</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash, cash equivalents and restricted cash at the end of the period</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDctMS0xLTEtNzI3MjY_176b19db-db70-4276-a897-90ff54afce1b">185,576</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i995b8031bc024c249052abce8711dcf9_I20210331" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNDctMy0xLTEtNzI3MjY_430dda83-419d-4b88-bfb0-4c295908ac0d">72,780</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:3pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reconciliation of cash, cash equivalents and restricted cash shown per Consolidated Balance Sheets to cash, cash equivalents and restricted cash per Consolidated Statements of Cash Flows</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></div></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTAtMS0xLTEtNzI3MjY_8c60f7e3-41f4-4170-b12e-aefb14dd333a">124,415</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i995b8031bc024c249052abce8711dcf9_I20210331" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTAtMy0xLTEtNzI3MjY_d416c7ac-8472-43fc-b66b-01c10472d7f4">41,345</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New 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0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i995b8031bc024c249052abce8711dcf9_I20210331" decimals="-3" name="us-gaap:RestrictedCashAndCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTEtMy0xLTEtNzI3MjY_e668f92f-0e36-4bec-be7d-8219ebbc2526">31,435</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash, cash equivalents and restricted cash at the end of the period</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTMtMS0xLTEtNzI3MjY_9253af82-cf45-4ed4-8d8c-b62e7c779cd0">185,576</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i995b8031bc024c249052abce8711dcf9_I20210331" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTMtMy0xLTEtNzI3MjY_65c7f568-7836-4144-b31c-b0dee20bf894">72,780</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Supplemental disclosure of cash flow information:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest paid</span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:InterestPaidNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTYtMS0xLTEtNzI3MjY_ab7db067-c0a5-451c-aa04-9599ad7f26ef">12,877</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:InterestPaidNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTYtMy0xLTEtNzI3MjY_6e1ce125-966b-430b-8a3b-5b358d9a268d">8,696</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Non-cash activities:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Write-offs of receivables</span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="jllipt:WriteOffsOfReceivables" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTgtMS0xLTEtNzI3MjY_e51b0e1f-b6d9-4ece-aea3-368ecf300e66">75</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="jllipt:WriteOffsOfReceivables" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTgtMy0xLTEtNzI3MjY_4befaafd-4f55-4883-bc10-b4007bc40098">4</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Write-offs of retired assets and liabilities</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="jllipt:WriteOffsOfRetiredAssets" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTktMS0xLTEtNzI3MjY_fa417eb5-b1d0-449d-aafe-b9fe34a02c3a">2,539</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="jllipt:WriteOffsOfRetiredAssets" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNTktMy0xLTEtNzI3MjY_9c9260e2-ad46-41a7-b37b-a487a093e03e">1,382</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Change in liability for capital expenditures</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" sign="-" name="jllipt:ChangeinLiabilityforCapitalExpenditures" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNjAtMS0xLTEtNzI3MjY_9f590d87-fa7e-4081-b1f8-d799fcf3a850">344</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" sign="-" name="jllipt:ChangeinLiabilityforCapitalExpenditures" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNjAtMy0xLTEtNzI3MjY_4f419992-76d0-429e-a4d3-7b2b290a6350">888</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net liabilities transferred at disposition of real estate investment</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:BusinessCombinationConsiderationTransferred1" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNjItMS0xLTEtNzI3MjY_61aa1112-d338-405c-8592-5fa58a62a31c">396</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:BusinessCombinationConsiderationTransferred1" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNjItMy0xLTEtNzI3MjY_87f726e4-8b87-4f10-9687-b40bb3fd3d97">230</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net liabilities assumed at acquisition</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:LiabilitiesAssumed1" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNjMtMS0xLTEtNzI3MjY_9b97a18a-4dcc-41d5-82cc-7b248bdeac39">426</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:LiabilitiesAssumed1" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNjMtMy0xLTEtNzI3MjY_4a82af64-9f18-421d-b909-c8dc3a4f7827">320</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 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Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="jllipt:ChangeinAccruedOfferingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNjYtMS0xLTEtNzI3MjY_648c261f-e35e-4b3c-89ad-8f6d8e715eb4">19,797</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i995b8031bc024c249052abce8711dcf9_I20210331" decimals="-3" name="jllipt:ChangeinAccruedOfferingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yMi9mcmFnOjg5ZjE5M2Q1MjlmNTQwZDdhMGM0YzBjMzMwODYxYjdhL3RhYmxlOjk3M2RkZjU4YmY5MjQ2MTNhNjRlNmVhNmQ0OTljN2RhL3RhYmxlcmFuZ2U6OTczZGRmNThiZjkyNDYxM2E2NGU2ZWE2ZDQ5OWM3ZGFfNjYtMy0xLTEtNzI3MjY_8f9a2461-dad1-4587-bda3-9d5083833ed2">2,406</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">See notes to consolidated financial statements. </span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_25"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Jones Lang LaSalle Income Property Trust, Inc.</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$ in thousands, except per share amounts</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_28"></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:NatureOfOperations" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNTY0Nw_1e9d7635-5ae4-4a24-95a7-758b95fa1478" continuedAt="i7524907ff2874384bda2dcf0001024d4" escape="true"><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 1&#8212;ORGANIZATION</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">General</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Except where the context suggests otherwise, the terms &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our&#8221; and the &#8220;Company&#8221; refer to Jones Lang LaSalle Income Property Trust, Inc. The terms &#8220;Advisor&#8221; and &#8220;LaSalle&#8221; refer to LaSalle Investment Management, Inc.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Jones Lang LaSalle Income Property Trust, Inc. is an externally advised, daily valued perpetual-life real estate investment trust ("REIT") that owns and manages a diversified portfolio of residential, industrial, office, retail and other properties located in the United States. Over time, our real estate portfolio may be further diversified on a global basis through the acquisition of properties outside of the United States and may be complemented by investments in real estate-related debt and equity securities. We were incorporated on <ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="dei:EntityIncorporationDateOfIncorporation" format="ixt:date-monthname-day-year-en" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfODAx_07ee7a09-f8eb-433e-80bf-8c078052c2e2">May&#160;28, 2004</ix:nonNumeric> under the laws of the State of Maryland. We believe that we have operated in such a manner to qualify to be taxed as a REIT for federal income tax purposes commencing with the taxable year ended December 31, 2004, when we first elected REIT status. As of March&#160;31, 2022, we owned interests in a total of <ix:nonFraction unitRef="number" contextRef="ic88ba70a5d304df7a3955e4342ca1bf9_I20220331" decimals="0" name="us-gaap:NumberOfRealEstateProperties" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMTA5Ng_d1d34e4e-55ea-4953-8491-02fe4e3536c8">119</ix:nonFraction> properties and over 4,000 single-family rental houses located in <ix:nonFraction unitRef="number" contextRef="ic88ba70a5d304df7a3955e4342ca1bf9_I20220331" decimals="0" name="us-gaap:NumberOfStatesInWhichEntityOperates" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMTE2NA_59c75f33-907a-44b9-b7ba-7301455f8dbc">26</ix:nonFraction> states.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We own all or substantially all of our assets through JLLIPT Holdings, LP, a Delaware limited partnership (our &#8220;operating partnership&#8221;), of which we are a limited partner and JLLIPT Holdings GP, LLC, our wholly owned subsidiary, is the sole general partner. The use of our operating partnership to hold all or substantially all of our assets is referred to as an Umbrella Partnership Real Estate Investment Trust ("UPREIT").  By using an UPREIT structure, a property owner who desires to defer taxable gain on the disposition of his property may transfer the property to our operating partnership in exchange for limited partnership interests in the operating partnership ("OP Units") and defer taxation of gain until the limited partnership interests are disposed of in a taxable transaction. As of March&#160;31, 2022, we raised aggregate proceeds from the issuance of OP Units in our operating partnership of $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOrSaleOfEquity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMjA2OA_3c3526cd-1f85-45ef-9f50-c91527e43175"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOrSaleOfEquity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMjA2OA_a7ec3a5b-ee1b-46ff-9028-c7f2f977df3e">88,925</ix:nonFraction></ix:nonFraction>, and owned directly or indirectly <ix:nonFraction unitRef="rate" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="INF" name="us-gaap:SaleOfStockPercentageOfOwnershipAfterTransaction" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMjEwNQ_268d0bae-61ca-4044-933d-3fed2c3a37a7">96.8</ix:nonFraction>% of the OP Units of our operating partnership.  The remaining <ix:nonFraction unitRef="rate" contextRef="i650a9060ea9e4374a08d456d7ec0ab5e_D20220101-20220331" decimals="INF" name="us-gaap:SaleOfStockPercentageOfOwnershipAfterTransaction" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMjE2OQ_d12d89db-18b6-4e64-aa6b-b1c54782fc59">3.2</ix:nonFraction>% of the OP Units are held by third parties.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From our inception to March&#160;31, 2022, we have received approximately $<ix:nonFraction unitRef="usd" contextRef="i9d3914f0e33b445598469ad22dee49f5_I20220331" decimals="-3" name="us-gaap:CommonStockValueOutstanding" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMjI3Mw_a81308ad-44cf-45f7-961c-5c9875f1d1c0">4,210,010</ix:nonFraction> in gross offering proceeds from various public and private offerings of shares of our common stock.  On October 1, 2012,  we commenced our initial public offering of common stock and since that time we have offered shares of our common stock in various public offerings registered with the Securities and Exchange Commission (the "SEC").  </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On&#160;December&#160;21, 2021, our most recent public offering (the "Current Public Offering") of up to&#160;$<ix:nonFraction unitRef="usd" contextRef="i0ad9a4ecae9b443e8dfa52da85623160_D20211221-20220331" decimals="-3" name="jllipt:Commonstockauthorizedinofferingofnewshares" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMTA5OTUxMTYzNDgwOQ_d9be6b95-3be6-40df-b85c-2e22ace66c17">3,000,000</ix:nonFraction>&#160;in any combination of shares of our Class A, Class M, Class A-I and Class M-I common stock was declared effective by the SEC. As of March&#160;31, 2022, we have raised aggregate gross proceeds from the sale of shares of our common stock in our Current Public Offering of $<ix:nonFraction unitRef="usd" contextRef="i90a7bfe8bb9d480e8823d321d884e3d3_I20220331" decimals="-3" name="us-gaap:CommonStockValueOutstanding" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNjU5NzA2OTc3Mzc2Nw_d4e5082d-0e1b-4c73-9ab9-28212d987e6c">249,802</ix:nonFraction>. We intend to continue to offer shares of our common stock on a continuous basis for an indefinite period of time by filing a new registration statement before the end of each offering.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to our public offerings, on March 3, 2015, we commenced a private offering (the "Private Offering") of up to $<ix:nonFraction unitRef="usd" contextRef="ia6e050b37ff245c8bbacd9e58e6a4bf1_D20150303-20150303" decimals="-3" name="jllipt:Commonstockvalueauthorizedduringprivateoffering" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMzU1NQ_b9abb000-8f71-467e-85ae-89d7ebcb4b80">350,000</ix:nonFraction> in shares of our Class D common stock with an indefinite duration. </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March&#160;31, 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, we have raised aggregate gross proceeds of $<ix:nonFraction unitRef="usd" contextRef="ibe13bbc0cc6e4e27b1a3bcb249f0099c_I20220331" decimals="-3" name="us-gaap:CommonStockValueOutstanding" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMzY3OA_6eccd783-92fc-4c56-8753-e5fd4cc72f45">98,188</ix:nonFraction>.  In addition, on October 16, 2019,&#160;we, through our operating partnership, initiated a program (the &#8220;DST Program&#8221;) to raise up to $<ix:nonFraction unitRef="usd" contextRef="iaa72d15005964fe9af5ee80d9126334c_D20191016-20191016" decimals="-3" name="jllipt:CommonstockvalueauthorizedduringDSToffering" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfMzgxMQ_7643020a-7a82-411f-ac42-0e8a64c63d41">500,000</ix:nonFraction>, which our board of directors increased to $1,000,000 on August 10, 2021, in private placements exempt from registration under the Securities Act of 1933, as amended, through the sale of beneficial interests to accredited investors in specific Delaware statutory trusts holding real properties ("DST Properties"), which may be sourced from our real properties or from third parties.  As of March&#160;31, 2022, we have raised $<ix:nonFraction unitRef="usd" contextRef="i77b2a43f4862462b8e7cbbd2c7ddae5d_I20220331" decimals="-3" name="us-gaap:CommonStockValueOutstanding" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNDIyMw_370c614e-b4f6-4f1a-92c5-1efcbaa15856">465,408</ix:nonFraction> from our DST Program.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March&#160;31, 2022, <ix:nonFraction unitRef="shares" contextRef="i43a8cc49250b4110987b3b7cc1c144de_I20220331" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNDI1OA_59ea9efa-caf2-47c7-a34f-1e1780b9fec2"><ix:nonFraction unitRef="shares" contextRef="i43a8cc49250b4110987b3b7cc1c144de_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNDI1OA_9a661e46-0912-46b3-991e-7f5fbb9e8d28">104,576,961</ix:nonFraction></ix:nonFraction> shares of Class A common stock, <ix:nonFraction unitRef="shares" contextRef="i76a689ba6174470abd9a866c4eedd84a_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNDI5Mw_8702dca3-91d6-4381-ae94-c898e2b7f1b3"><ix:nonFraction unitRef="shares" contextRef="i76a689ba6174470abd9a866c4eedd84a_I20220331" decimals="0" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNDI5Mw_e38377e2-365b-458c-ad4a-154a1aca156c">37,681,185</ix:nonFraction></ix:nonFraction> shares of Class M common stock, <ix:nonFraction unitRef="shares" contextRef="if9353824faef406eb42a76feef61c616_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNDMyOA_371a7efa-4ad6-4080-85ed-1071766106d8">9,335,732</ix:nonFraction> shares of Class A-I common stock, <ix:nonFraction unitRef="shares" contextRef="i4c35659b1f2544d780641d0f0bfc474d_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNDM2NQ_b1e9dbb1-c151-4422-a4a0-b6e6588e8201">61,681,208</ix:nonFraction> shares of Class M-I common stock, and <ix:nonFraction unitRef="shares" contextRef="i7e99a59d4bb84efaaa36fd9cee277fe8_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNDQwNg_f37ddcb7-8195-4333-8795-b414d4b8515d">6,041,611</ix:nonFraction> shares of Class D common stock were outstanding and held by a total of <ix:nonFraction unitRef="number" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="0" name="jllipt:NumberOfStockholders" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNDQ4MA_2ce77d0f-1846-4148-8936-489e33b52db5">21,336</ix:nonFraction> stockholders.  </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">LaSalle acts as our advisor pursuant to the advisory agreement among us, our operating partnership and LaSalle (the "Advisory Agreement"). The term of our Advisory Agreement expires June&#160;5, 2022, subject to an unlimited number of successive one-year renewals.  Our Advisor, a registered investment advisor with the SEC, has broad discretion with respect to our investment decisions and is responsible for selecting our investments and for managing our investment portfolio pursuant to the terms of the Advisory Agreement. Our executive officers are employees of and compensated by our Advisor. We have no employees, as all operations are managed by our Advisor. </span></div></ix:nonNumeric><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i7524907ff2874384bda2dcf0001024d4">LaSalle is a wholly owned, but operationally independent subsidiary of Jones Lang LaSalle Incorporated ("JLL" or our "Sponsor"), a New York Stock Exchange-listed leading professional services firm that specializes in real estate and investment management.  As of March&#160;31, 2022, JLL and its affiliates owned an aggregate of <ix:nonFraction unitRef="shares" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="0" name="us-gaap:InvestmentOwnedBalanceShares" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNTQ2NA_5778c659-2a0b-40f5-a772-05419d0b7bdd">2,521,801</ix:nonFraction> Class M shares, which were issued for cash at a price equal to the most recently reported net asset value ("NAV") per share as of the purchase date and have a current value of $<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:InvestmentOwnedAtFairValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8yOC9mcmFnOjhkZmNlYmE2MzIxYzQxNjE5NDc5NzllMmUyYTVmOWM0L3RleHRyZWdpb246OGRmY2ViYTYzMjFjNDE2MTk0Nzk3OWUyZTJhNWY5YzRfNTY0Mw_803ccc12-b47e-425d-8e65-0f19d7e17299">37,524</ix:nonFraction>.</ix:continuation> </span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_31"></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 2&#8212;<ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:SignificantAccountingPoliciesTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0NDk_6aa78826-cb19-4d08-8a44-b6f05a6c39b4" continuedAt="if75e02b1b42e4f11bac9a81413fdff83" escape="true">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </ix:nonNumeric></span></div><ix:continuation id="if75e02b1b42e4f11bac9a81413fdff83" continuedAt="i552aedfaa22a4682bf85bb7a05a4249b"><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:ConsolidationPolicyTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0ODg_286db3f6-0330-4bb5-aa0b-41c384677362" continuedAt="if642eb2f176e48198329525e605f1faf" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation and Principles of Consolidation </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;), the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and include the accounts of our wholly owned subsidiaries, consolidated variable interest entities ("VIE") and the unconsolidated investment in real estate affiliates accounted for under the equity method of accounting. We consider the authoritative guidance of accounting for investments in common stock, investments in real estate ventures, investors accounting for an investee when the investor has the majority of the voting interest but the minority partners have certain approval or veto rights, determining whether a general partner or general partners as a group controls a limited partnership or similar entity when the limited partners have certain rights and the consolidation of VIEs in which we own less than a <ix:nonFraction unitRef="rate" contextRef="ibd4adc92535b4f66a8d6e7f30ac5501f_I20220331" decimals="4" name="us-gaap:MinorityInterestOwnershipPercentageByParent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTA0Mw_85d58d47-d535-4e51-9dc4-2f66a3fbaf6d">100</ix:nonFraction>% interest.  All significant intercompany balances and transactions have been eliminated in consolidation.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Parenthetical disclosures are shown on our Consolidated Balance Sheets regarding the amounts of VIE assets and liabilities that are consolidated. As of March&#160;31, 2022, our VIEs included The District at Howell Mill, Grand Lakes Marketplace, Presley Uptown, 237 Via Vera Cruz, 4211 Starboard Drive, 13500 Danielson Drive, 2840 Loker Ave, and 15890 Bernardo Center Drive due to the joint venture structures and our partners having limited participation rights and no kick-out rights. The creditors of our VIEs do not have general recourse to us.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Noncontrolling interests represent the minority members&#8217; proportionate share of equity. At acquisition, the assets, liabilities and noncontrolling interests were measured and recorded at the estimated fair value. Noncontrolling interests will increase for the minority members&#8217; share of net income of these entities and contributions and decrease for the minority members&#8217; share of net loss and distributions. As of March&#160;31, 2022, noncontrolling interests represented the minority members&#8217; proportionate share of the equity of The District at Howell Mill and the operating partnership.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Redeemable noncontrolling interests represent noncontrolling interests which are redeemable at the option of the holder or in circumstances out of our control and therefore are accounted for as temporary equity.  The carrying amount of the redeemable noncontrolling interests is adjusted over time on an accretive basis to reflect the fair value at the time the noncontrolling interest become redeemable by the holder.  Changes in the redemption value of redeemable noncontrolling interest are recorded as an allocation of retained earnings on our Consolidated Statements of Equity.  During the three months ended March 31, 2022, we recorded an allocation from noncontrolling interests to redeemable noncontrolling interests in the amount of $3,922. We have redeemable noncontrolling interest related to Grand Lakes Marketplace, Presley Uptown, 237 Via Vera Cruz, 4211 Starboard Drive, 13500 Danielson Drive, 2840 Loker Ave, and 15890 Bernardo Center Drive as of March&#160;31, 2022.  As of March 31, 2022, $<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="0" name="us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfNjU5NzA2OTc5NTQwOQ_cd46c689-c06d-4514-a615-bc1949abe6db">6,970</ix:nonFraction> related to these third party joint ventures was included in Redeemable noncontrolling interests on our Consolidated Balance Sheet of which $<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:RedeemableNoncontrollingInterestEquityOtherCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfNjU5NzA2OTc5NTQxNw_688d58c0-7f3c-4752-a683-1842571ce6bb">2,870</ix:nonFraction> is immediately puttable by the holder of the noncontrolling interest.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the accounting policies described in the consolidated financial statements and related notes included in our Annual Report on Form 10-K filed with the SEC on March&#160;11, 2022 (our &#8220;2021 Form 10-K&#8221;) and should be read in conjunction with such consolidated financial statements and related notes. The following notes to these interim consolidated financial statements highlight changes to the notes included in the December&#160;31, 2021 audited consolidated financial statements included in our 2021 Form 10-K and present interim disclosures as required by the SEC.</span></div></ix:nonNumeric><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="if642eb2f176e48198329525e605f1faf">The interim financial data as of March&#160;31, 2022 and for the three months ended March 31, 2022 and 2021 is unaudited. In our opinion, the interim data includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the interim periods.</ix:continuation>  </span></div></ix:continuation><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div><ix:continuation id="i552aedfaa22a4682bf85bb7a05a4249b" continuedAt="i99c7a11d5d884ffa914155b866bee05f"><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0MjY_2ecb4876-bd99-4b23-830d-22f0efd09f6e" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Restricted Cash</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted cash includes amounts established pursuant to various agreements for loan escrow accounts, loan commitments and property sale proceeds. When we sell a property, we can elect to enter into a like-kind exchange pursuant to the applicable Internal Revenue Service guidance whereby the proceeds from the sale are placed in escrow with a qualified intermediary until a replacement property can be purchased.  At March&#160;31, 2022, our restricted cash balance on our Consolidated Balance Sheets was primarily related to common stock subscriptions received in advance of the issuance of the common stock and loan escrow amounts.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:DeferredChargesPolicyTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0Njg_a2c94e3f-9574-49dd-bb47-3d65f55b64f1" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Deferred Expenses</span></div><div style="margin-top:9pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred expenses consist of lease commissions. Lease commissions are capitalized and amortized over the term of the related lease as a component of depreciation and amortization expense. Accumulated amortization of deferred expenses at March&#160;31, 2022 and December&#160;31, 2021 was $<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="jllipt:AccumulatedAmortizationDeferredFinanceAndLeasingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfNDMzMg_8a4381a5-403b-4a93-b25d-e099f2f89413">8,528</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="jllipt:AccumulatedAmortizationDeferredFinanceAndLeasingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfNDMzOQ_5008b253-8e71-4150-bbec-70d6d966b097">8,436</ix:nonFraction>, respectively.</span></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:RevenueRecognitionLeases" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0Nzg_d190d05a-0f81-4d2c-b79f-0b770e4ecf24" continuedAt="i65a7a12e94fe4a3cbf859ac727603c50" escape="true">Rental Revenue Recognition</ix:nonNumeric></span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i65a7a12e94fe4a3cbf859ac727603c50">We recognize rental revenue from tenants under operating leases on a straight-line basis over the non-cancelable term of the lease when collectibility of substantially all rents is reasonably assured. Recognition of rental revenue on a straight-line basis includes the effects of rental abatements, lease incentives and fixed and determinable increases in lease payments over the lease term. For leases where collection of substantially all rents is not deemed to be probable, revenue is recorded equal to cash that has been received from the tenant.&#160; We evaluate the collectibility of rents and other receivables at each reporting period based on factors including, among others, tenant's payment history, the financial condition of the tenant, business conditions and trends in the industry in which the tenant operates and economic conditions in the geographic area where the property is located. If evaluation of these factors or others indicates it is not probable we will collect substantially all rent we recognize an adjustment to rental revenue. If our judgment or estimation regarding probability of collection changes we may adjust or record additional rental revenue in the period such conclusion is reached.</ix:continuation> </span></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:BusinessCombinationsPolicy" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0ODQ_5e7524e5-5c31-40c5-bc60-587e3d6b5209" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Acquisitions</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have allocated a portion of the purchase price of our acquisitions to acquired intangible assets, which include acquired in-place lease intangibles, acquired above-market in-place lease intangibles and acquired ground lease intangibles, which are reported net of accumulated amortization of $<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfNzMxOA_7244edaf-ffc5-4695-90ea-3ff9641d4107">102,523</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfNzMyNQ_86b99437-65a8-460a-b0ff-17ad86450f3c">102,842</ix:nonFraction> at March&#160;31, 2022 and December&#160;31, 2021, respectively, on the accompanying Consolidated Balance Sheets. The acquired intangible liabilities represent acquired below-market in-place leases, which are reported net of accumulated amortization of $<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="jllipt:FiniteLivedIntangibleLiabilityAccumulatedAmortization" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfNzU0NA_e9520381-4db8-4e8e-b109-c7e65982e068">15,445</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="jllipt:FiniteLivedIntangibleLiabilityAccumulatedAmortization" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfNzU1MQ_9b186b1a-ef9a-4489-9256-d2af2025222f">15,481</ix:nonFraction> at March&#160;31, 2022 and December&#160;31, 2021, respectively, on the accompanying Consolidated Balance Sheets.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:FairValueMeasurementPolicyPolicyTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0NjQ_3ccb58a5-8749-4225-a33c-dbd20771e94c" continuedAt="iaa2f8bd9b3b64b3a848a2a57675c0950" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Assets and Liabilities Measured at Fair Value </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) guidance for fair value measurement and disclosure states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering assumptions, authoritative guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Level&#160;1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have access to at the measurement date.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Level&#160;2</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;Observable inputs, other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.  Level&#160;2 inputs are those in markets for which there are few transactions, the prices are not current, little public information exists or instances where prices vary substantially over time or among brokered market makers.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Level&#160;3</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;Unobservable inputs for the asset or liability.  Unobservable inputs are those inputs that reflect our own assumptions that market participants would use to price the asset or liability based on the best available information.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The authoritative guidance requires the disclosure of the fair value of our financial instruments for which it is practicable to estimate that value. The guidance does not apply to all balance sheet items. Market information as available or present value techniques have been utilized to estimate the amounts required to be disclosed. Since such amounts are estimates, there can be no assurance that the disclosed value of any financial instrument could be realized by immediate settlement of the instrument.  </span></div></ix:nonNumeric></ix:continuation><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div><ix:continuation id="i99c7a11d5d884ffa914155b866bee05f" continuedAt="i7bf77884bf744419ac474831f990faed"><ix:continuation id="iaa2f8bd9b3b64b3a848a2a57675c0950"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our investments in marketable securities are valued using Level 1 inputs as the securities are publicly traded on major stock exchanges. </span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Real estate fund investments accounted for under the fair value option fall within Level 3 of the hierarchy.  The fair value is recorded based upon changes in the NAV of the limited partnership as determined from the financial statements of the real estate fund.  During the three months ended March 31, 2022 and 2021, we recorded a net increase in fair value classified within the Level 3 category of $23,908 and $<ix:nonFraction unitRef="usd" contextRef="ic4d1335425fa47fb824e7387405861da_D20210101-20210331" decimals="-3" name="us-gaap:UnrealizedGainLossOnInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfOTk1NA_259c4309-5ce8-4961-b91b-ff1d7f531769">1,081</ix:nonFraction>, respectively, which related to our investments in the NYC Retail Portfolio (as defined below) and the Single-family Rental Portfolio (see </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_37">Note 4-Unconsolidated Real Estate Affiliates and Fund Investments</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">).</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have estimated the fair value of our mortgage notes and other debt payable reflected on the Consolidated Balance Sheets at amounts that are based upon an interpretation of available market information and valuation methodologies (including discounted cash flow analysis with regard to fixed rate debt) for similar loans made to borrowers with similar credit ratings and for the same maturities. The fair value of our mortgage notes and other debt payable using Level 2 inputs was $67,899 lower and $<ix:nonFraction unitRef="usd" contextRef="i30a6d08574e24c47a6a3fcdd9aadb757_I20211231" decimals="-3" name="us-gaap:NotesPayableFairValueDisclosure" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTA1ODE_0e8cbd92-2a79-4f0f-b46a-8287b9e139ca">3,794</ix:nonFraction> higher than the aggregate carrying amounts at March&#160;31, 2022 and December&#160;31, 2021, respectively. Such fair value estimates are not necessarily indicative of the amounts that would be realized upon disposition of our mortgage notes payable.</span></div></ix:continuation><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:DerivativesReportingOfDerivativeActivity" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0OTY_d125d60f-b845-4e8f-8310-788dd5f5a7d0" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Derivative Financial Instruments</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We record all derivatives on the Consolidated Balance Sheets at fair value in prepaid expenses and other assets or accounts payable and other accrued expenses. Changes in the fair value of our derivatives are recorded as a component of interest expense on our Consolidated Statements of Operations as we have not designated our derivative instruments as hedges. Our objective in using interest rate derivatives is to manage our exposure to interest rate movements. To accomplish this objective, we use interest rate swaps.</span></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:ScheduleOfDerivativeInstrumentsTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0OTc_9dd28b80-a51f-4d44-92fc-8fe18bf60f74" escape="true"><div style="margin-bottom:9pt;margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March&#160;31, 2022, we had the following outstanding interest rate derivatives related to managing our interest rate risk:</span></div><div style="margin-top:5pt;text-align:center;text-indent:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:69.444%"><tr><td style="width:1.0%"></td><td style="width:38.268%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.852%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.531%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.852%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.797%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest Rate Derivative</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of Instruments</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional Amount</span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest Rate Swaps</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2817e524919a4f588f2642f8247a6d96_I20220331" decimals="0" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RhYmxlOmExNmViYWRmNzhlMjQ1M2NhYzcxZmRmMjFlYjBjOGMxL3RhYmxlcmFuZ2U6YTE2ZWJhZGY3OGUyNDUzY2FjNzFmZGYyMWViMGM4YzFfMi0yLTEtMS03MjcyNg_5f2ba0f8-18de-4cfc-8d1e-06d91448a4b2">5</ix:nonFraction></span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2817e524919a4f588f2642f8247a6d96_I20220331" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RhYmxlOmExNmViYWRmNzhlMjQ1M2NhYzcxZmRmMjFlYjBjOGMxL3RhYmxlcmFuZ2U6YTE2ZWJhZGY3OGUyNDUzY2FjNzFmZGYyMWViMGM4YzFfMi00LTEtMS03MjcyNg_10563287-d51a-4245-bacd-8f95e4f41b41">190,000</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of our interest rate swaps represent liabilities of $<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:DerivativeAssets" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTE1MzY_e43c5a7f-d3ec-4c9f-89d7-20772167ca7f">595</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTE1NDM_e4d76d6c-136c-4576-a7c0-613cc6534bf3">2,580</ix:nonFraction> at March&#160;31, 2022 and December&#160;31, 2021, respectively.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:MarketableSecuritiesPolicy" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0NTg_f215ff9f-cf53-4c59-b82e-7bcd2d9a0ec5" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Investment in Marketable Securities</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with our investment guidelines, investments in marketable securities consist of stock of publicly traded REITs.  The net unrealized change in the fair value of our investments in marketable securities is recorded in earnings as part of net income in accordance with Accounting Standard Update ("ASU") 2016-1, Financial Statements - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:LesseeOperatingLeasesTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0NTI_c3ff0b2a-b184-44d8-8ac2-72bd6dd6d0f4" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Ground Lease</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March&#160;31, 2022, we have a single ground lease arrangement for which we are the lessee and recorded a right-of-use asset within prepaid expenses and other assets on our Consolidated Balance Sheets in the amount of $<ix:nonFraction unitRef="usd" contextRef="i0b9715e154d94c3ea19ca2cc358904b9_I20220331" decimals="-3" name="us-gaap:OperatingLeaseRightOfUseAsset" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTIyNzk_18902849-c28b-4c45-8bef-c4af6f629c35">2,094</ix:nonFraction> and a lease liability within accounts payable and other liabilities on our Consolidated Balance Sheets in the amount of $<ix:nonFraction unitRef="usd" contextRef="i0b9715e154d94c3ea19ca2cc358904b9_I20220331" decimals="-3" name="jllipt:SBGGroundLease" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTI0MDM_c1cca5eb-fea5-4a8a-8c29-1725819ae9b4">2,247</ix:nonFraction>.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:UseOfEstimates" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0OTg_1bccff28-0540-4780-9e00-0ef21f3414bc" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. For example, significant estimates and assumptions have been made with respect to useful lives of assets, recoverable amounts of receivables, fair value of derivatives and real estate assets, initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions. Actual results could differ from those estimates.</span></div></ix:nonNumeric></ix:continuation><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div><ix:continuation id="i7bf77884bf744419ac474831f990faed"><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zMS9mcmFnOjg1ZDI1YjYyNTNlNDRjMmU5ODI3MWFhYTc4ZmUwMTg2L3RleHRyZWdpb246ODVkMjViNjI1M2U0NGMyZTk4MjcxYWFhNzhmZTAxODZfMTc0NjY_b7a35f29-4e59-4ac1-829c-1a09b0c0d1c3" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Issued Accounting Pronouncements</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the FASB issued ASU No. 2020-04,&#160;Reference Rate Reform (Topic 848) ("ASU 2020-04"), which provides guidance containing practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. We are evaluating the impact of this guidance.</span></div></ix:nonNumeric></ix:continuation><div id="i4c9158db7ced44a29893ff7a7a6e11cd_34"></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 3&#8212;<ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:RealEstateDisclosureTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RleHRyZWdpb246OWVhNWFmOTVhNDk4NGJmZGFiNmM3MDQ0MTU2MjgxMWZfMzg0ODI5MDcwNTE4Mg_d55cff2b-6576-48a7-b7ff-79adaec18aba" continuedAt="i2c8d1337646046aba64d7739d7301a8b" escape="true">PROPERTY</ix:nonNumeric></span></div><ix:continuation id="i2c8d1337646046aba64d7739d7301a8b"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The primary reason we make acquisitions of real estate investments in the industrial, office, residential, retail and other property sectors is to invest capital contributed by stockholders in a diversified portfolio of real estate assets. All references to square footage and units are unaudited.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Acquisitions</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 30, 2022, we acquired Jefferson Lake Howell, a 384-unit residential property located in Casselberry, Florida for approximately $<ix:nonFraction unitRef="usd" contextRef="ie3d688c545e24bb6882de244ab3a1ee0_I20220330" decimals="-3" name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RleHRyZWdpb246OWVhNWFmOTVhNDk4NGJmZGFiNmM3MDQ0MTU2MjgxMWZfMjc0ODc3OTA3NzAwMw_d8447ccf-02ab-48e7-b360-707288a7b19b">154,100</ix:nonFraction>. The acquisition was funded with cash on hand and a draw on our Credit Facility (defined below). </span></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RleHRyZWdpb246OWVhNWFmOTVhNDk4NGJmZGFiNmM3MDQ0MTU2MjgxMWZfMzY3Nw_786065c0-3433-45a7-b7af-db43687ffdfc" escape="true"><div style="margin-top:9pt;padding-right:18pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We allocated the purchase price for our 2022 acquisition in accordance with authoritative guidance as follows:</span></div><div style="margin-top:10pt;padding-right:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:78.578%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.222%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022 Acquisitions</span></div></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Land</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6511c63dbde74763b129e9999c6dac86_I20220331" decimals="-3" name="us-gaap:Land" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RhYmxlOmJhYjk3Y2Q3ODUyYzRkYjk4NjliM2Y2MzZhNDEwYzk3L3RhYmxlcmFuZ2U6YmFiOTdjZDc4NTJjNGRiOTg2OWIzZjYzNmE0MTBjOTdfMS0xLTEtMS03MjcyNg_569c099f-53fc-4a57-b471-fdb0021d47e4">11,200</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Building and equipment</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6511c63dbde74763b129e9999c6dac86_I20220331" decimals="-3" name="us-gaap:InvestmentBuildingAndBuildingImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RhYmxlOmJhYjk3Y2Q3ODUyYzRkYjk4NjliM2Y2MzZhNDEwYzk3L3RhYmxlcmFuZ2U6YmFiOTdjZDc4NTJjNGRiOTg2OWIzZjYzNmE0MTBjOTdfMi0xLTEtMS03MjcyNg_682f4bd5-83a3-4532-8210-87edb8f31ca8">140,964</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In-place lease intangible (acquired intangible assets)</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6511c63dbde74763b129e9999c6dac86_I20220331" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetAcquiredInPlaceLeases" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RhYmxlOmJhYjk3Y2Q3ODUyYzRkYjk4NjliM2Y2MzZhNDEwYzk3L3RhYmxlcmFuZ2U6YmFiOTdjZDc4NTJjNGRiOTg2OWIzZjYzNmE0MTBjOTdfNC0xLTEtMS03MjcyNg_068dc9a7-882a-440e-9117-1ee5c4fc49d6">2,090</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6511c63dbde74763b129e9999c6dac86_I20220331" decimals="-3" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RhYmxlOmJhYjk3Y2Q3ODUyYzRkYjk4NjliM2Y2MzZhNDEwYzk3L3RhYmxlcmFuZ2U6YmFiOTdjZDc4NTJjNGRiOTg2OWIzZjYzNmE0MTBjOTdfMTEtMS0xLTEtNzI3MjY_01deaeb8-63e8-49bc-8def-de00b6848dc5">154,254</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization period for intangible assets and liabilities</span></td><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="idb2ea2b736e244ec8aa188536d777a8f_D20220101-20220331" name="us-gaap:FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1" format="ixt-sec:durmonth" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RhYmxlOmJhYjk3Y2Q3ODUyYzRkYjk4NjliM2Y2MzZhNDEwYzk3L3RhYmxlcmFuZ2U6YmFiOTdjZDc4NTJjNGRiOTg2OWIzZjYzNmE0MTBjOTdfMTItMS0xLTEtNzI3MjYvdGV4dHJlZ2lvbjo0NDJjMzQwMTU0ZWY0NDE4ODk1Nzg4NWY1YTU0NzgwM180_c1cf3b7e-a2eb-402f-af74-08a25d08528d">6</ix:nonNumeric> months</span></div></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Dispositions</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 6, 2022, we sold Norfleet Distribution Center, a <ix:nonFraction unitRef="sqft" contextRef="iec7f81c8c9d84d84a646e75c1c820175_I20220106" decimals="0" name="us-gaap:AreaOfRealEstateProperty" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RleHRyZWdpb246OWVhNWFmOTVhNDk4NGJmZGFiNmM3MDQ0MTU2MjgxMWZfMjc0ODc3OTA3Njc2Nw_75d3ebed-3fa6-4188-b633-50f5749669e5">702,000</ix:nonFraction> square foot industrial property located in Kansas City, Missouri for approximately $<ix:nonFraction unitRef="usd" contextRef="ia33274d839be4ad3a5a4c762088dcf32_D20220106-20220106" decimals="-3" name="us-gaap:ProceedsFromSaleOfPropertyHeldForSale" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RleHRyZWdpb246OWVhNWFmOTVhNDk4NGJmZGFiNmM3MDQ0MTU2MjgxMWZfMjc0ODc3OTA3Njc5Mg_0c879f65-9085-46e4-a8e5-25179813f288">60,375</ix:nonFraction> less closing costs.  We recorded a gain on the sale of the property in the amount of approximately $<ix:nonFraction unitRef="usd" contextRef="ia33274d839be4ad3a5a4c762088dcf32_D20220106-20220106" decimals="-3" name="us-gaap:GainLossOnSaleOfInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RleHRyZWdpb246OWVhNWFmOTVhNDk4NGJmZGFiNmM3MDQ0MTU2MjgxMWZfMjc0ODc3OTA3NjgwMQ_f17b7ac7-78fd-4da9-9a5b-86b5e965c1c0">34,186</ix:nonFraction>.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 24, 2022, we sold The Edge at Lafayette, a <ix:nonFraction unitRef="sqft" contextRef="i48474228e2e44a699844749b133b4d98_I20220124" decimals="0" name="us-gaap:AreaOfRealEstateProperty" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RleHRyZWdpb246OWVhNWFmOTVhNDk4NGJmZGFiNmM3MDQ0MTU2MjgxMWZfMjc0ODc3OTA3NjgyNg_3bd85e87-5df1-440d-b60c-3e40f6be3491">207,000</ix:nonFraction> square foot student housing apartment property located in Lafayette, Louisiana for approximately $<ix:nonFraction unitRef="usd" contextRef="ie0e501e130fa4f22973767673a96b274_D20220124-20220124" decimals="-3" name="us-gaap:ProceedsFromSaleOfPropertyHeldForSale" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RleHRyZWdpb246OWVhNWFmOTVhNDk4NGJmZGFiNmM3MDQ0MTU2MjgxMWZfMjc0ODc3OTA3NjgzNQ_a785aab9-b57c-4229-8621-35f38ed87626">16,500</ix:nonFraction> less closing costs. We recorded a gain on the sale of the property in the amount of approximately $<ix:nonFraction unitRef="usd" contextRef="ie0e501e130fa4f22973767673a96b274_D20220124-20220124" decimals="-3" name="us-gaap:GainLossOnSaleOfInvestments" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNC9mcmFnOjllYTVhZjk1YTQ5ODRiZmRhYjZjNzA0NDE1NjI4MTFmL3RleHRyZWdpb246OWVhNWFmOTVhNDk4NGJmZGFiNmM3MDQ0MTU2MjgxMWZfMjc0ODc3OTA3NzMxOQ_d8517e49-3568-47cb-bfb3-58cef8f94809">13</ix:nonFraction>.</span></div></ix:continuation><div id="i4c9158db7ced44a29893ff7a7a6e11cd_37"></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 4&#8212;<ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:EquityMethodInvestmentsDisclosureTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNDgzNw_0d88407b-a494-499f-b932-cd98c7bbd7b5" continuedAt="iff37085d4609433eac64e16519b19296" escape="true">UNCONSOLIDATED REAL ESTATE AFFILIATES AND FUND INVESTMENTS</ix:nonNumeric></span></div><ix:continuation id="iff37085d4609433eac64e16519b19296" continuedAt="ib7247734695d42bba8eec75da4357d59"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to investments in consolidated properties, we may make investments in real estate, which are classified as unconsolidated real estate affiliates under GAAP.  The residential sector includes apartment properties and single-family rental homes.</span></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:EquityMethodInvestmentsTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNDgyNQ_26e11a04-df1c-40b0-af52-72911b69ea5a" continuedAt="i0e7a0675ca7b444dab8eb57ccc767211" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Unconsolidated Real Estate Affiliates</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The following represent our unconsolidated real estate affiliates as of March&#160;31, 2022 and December&#160;31, 2021. </span></div><div style="margin-top:10pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:23.680%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.483%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.976%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.468%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.562%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.566%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying Amount of Investment</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Property</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Property Type</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition Date</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;March 31, 2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chicago Parking Garage</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chicago, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 23, 2014</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid 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style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i5f3525e8a912488ea5d974d371c5a52e_I20211231" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOmZhM2M2ODllZTFjNTQwOWY5NGQyMGQ3MTE1ZTE1MWIzL3RhYmxlcmFuZ2U6ZmEzYzY4OWVlMWM1NDA5Zjk0ZDIwZDcxMTVlMTUxYjNfMi0xMC0xLTEtNzI3MjY_a71f34dd-a8a3-4259-bb25-a2f13240c65f">13,992</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New 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style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Kingston at McLean Crossing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Residential</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">McLean, VA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOmZhM2M2ODllZTFjNTQwOWY5NGQyMGQ3MTE1ZTE1MWIzL3RhYmxlcmFuZ2U6ZmEzYzY4OWVlMWM1NDA5Zjk0ZDIwZDcxMTVlMTUxYjNfOC04LTEtMS03OTU1Mg_755d3d60-c47b-4e0e-afb8-890c84fe6e0f">38,318</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i1e1d542762c64a469029426d90078371_I20211231" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOmZhM2M2ODllZTFjNTQwOWY5NGQyMGQ3MTE1ZTE1MWIzL3RhYmxlcmFuZ2U6ZmEzYzY4OWVlMWM1NDA5Zjk0ZDIwZDcxMTVlMTUxYjNfOC0xMC0xLTEtNzk1NjM_d94c953d-f96c-480c-98d7-78f0cea74924">36,720</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOmZhM2M2ODllZTFjNTQwOWY5NGQyMGQ3MTE1ZTE1MWIzL3RhYmxlcmFuZ2U6ZmEzYzY4OWVlMWM1NDA5Zjk0ZDIwZDcxMTVlMTUxYjNfNy04LTEtMS03MjcyNg_8f09aeac-47f8-4d7b-aede-49473e608159">217,070</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOmZhM2M2ODllZTFjNTQwOWY5NGQyMGQ3MTE1ZTE1MWIzL3RhYmxlcmFuZ2U6ZmEzYzY4OWVlMWM1NDA5Zjk0ZDIwZDcxMTVlMTUxYjNfNy0xMC0xLTEtNzI3MjY_fe8bc7da-d0bd-47cb-83b4-376379f26d68">217,044</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-align:center;text-indent:13.5pt"><span><br/></span></div><ix:continuation id="ib7247734695d42bba8eec75da4357d59"><ix:continuation id="i0e7a0675ca7b444dab8eb57ccc767211"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Summarized Combined Statements of Operations&#8212;Unconsolidated Real Estate Affiliates&#8212;Equity Method Investments</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.005%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.835%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.130%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total revenues</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ib10a06ea54744ec881c50c84650b0e4d_D20220101-20220331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfMS0xLTEtMS03MjcyNg_1fab9d82-e506-42c0-a14f-12e1f139879c">7,697</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iebe98e4b3698476e9a981e8bfe1bc3be_D20210101-20210331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfMS0zLTEtMS03MjcyNg_ace82aa8-786a-4957-9563-63643a6ca2a0">5,707</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total operating expenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ib10a06ea54744ec881c50c84650b0e4d_D20220101-20220331" decimals="-3" name="us-gaap:OperatingExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfMi0xLTEtMS03MjcyNg_22458d94-472f-46e0-a5ce-b293bef46e44">6,352</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iebe98e4b3698476e9a981e8bfe1bc3be_D20210101-20210331" decimals="-3" name="us-gaap:OperatingExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfMi0zLTEtMS03MjcyNg_0b9eb84f-71cc-45c3-9333-57fdde9a54b8">6,043</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Operating income (loss)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ib10a06ea54744ec881c50c84650b0e4d_D20220101-20220331" decimals="-3" name="us-gaap:OperatingIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfMy0xLTEtMS03MjcyNg_7b5b20f8-403e-4864-b1b0-db7afb432cd0">1,345</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="iebe98e4b3698476e9a981e8bfe1bc3be_D20210101-20210331" decimals="-3" sign="-" name="us-gaap:OperatingIncomeLoss" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfMy0zLTEtMS03MjcyNg_38be76be-88e6-467c-8ae4-0cf483d71dac">336</ix:nonFraction>)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest expense</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ib10a06ea54744ec881c50c84650b0e4d_D20220101-20220331" decimals="-3" sign="-" name="us-gaap:InterestExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfNC0xLTEtMS03MjcyNg_4bda13ef-2284-4cbc-8999-579bef56f571">1,417</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iebe98e4b3698476e9a981e8bfe1bc3be_D20210101-20210331" decimals="-3" name="us-gaap:InterestExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfNC0zLTEtMS03MjcyNg_1720335d-c61f-4cf5-a127-d8805d9b0303">1,021</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net income (loss)</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ib10a06ea54744ec881c50c84650b0e4d_D20220101-20220331" decimals="-3" name="us-gaap:NetIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfNS0xLTEtMS03MjcyNg_36995d06-8447-43a8-927c-3d2b85f1e047">2,762</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="iebe98e4b3698476e9a981e8bfe1bc3be_D20210101-20210331" decimals="-3" sign="-" name="us-gaap:NetIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjRhMDNjODY5Yzc5ZTQ0ZWFhYWQzOTY2N2ZkZDU2NjNjL3RhYmxlcmFuZ2U6NGEwM2M4NjljNzllNDRlYWFhZDM5NjY3ZmRkNTY2M2NfNS0zLTEtMS03MjcyNg_31634942-f25b-48dd-80c3-cdcee00d7e66">1,357</ix:nonFraction>)</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:continuation><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Real Estate Fund Investments</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">NYC Retail Portfolio</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 8, 2015, a wholly owned subsidiary of ours acquired an approximate <ix:nonFraction unitRef="number" contextRef="ia7c03475abfe4a3e96a63f97535bf05a_I20151208" decimals="INF" name="us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNjkw_4d61611d-5ee0-4017-99bc-b8b5223ca9d6">28</ix:nonFraction>% interest in a newly formed limited partnership, Madison NYC Core Retail Partners, L.P., which acquired an approximate <ix:nonFraction unitRef="number" contextRef="ife8be870e170489c88ab285e9065cc4f_I20151208" decimals="INF" name="us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfODEx_684cebef-4faa-4480-8c10-ce5d85ef6351">49</ix:nonFraction>% interest in entities that initially owned 15 retail properties located in the greater New York City area (the &#8220;NYC Retail Portfolio&#8221;), the result of which is that we own an approximate <ix:nonFraction unitRef="number" contextRef="if31cd7f6d4bf4da6b784fd733f2ecce8_I20151208" decimals="INF" name="jllipt:RealEstatePropertyOwnershipPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfOTk5_8c35eb57-f12d-4cf6-a3d4-a22e44f8a4f8">14</ix:nonFraction>% interest in the NYC Retail Portfolio. The purchase price for such portion was approximately $<ix:nonFraction unitRef="usd" contextRef="if31cd7f6d4bf4da6b784fd733f2ecce8_I20151208" decimals="-3" name="us-gaap:RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfMTA5NA_d376fb69-9c92-44c4-9276-09d8e150b654">85,600</ix:nonFraction> including closing costs. As of March&#160;31, 2022, the NYC Retail Portfolio owned eight retail properties totaling approximately <ix:nonFraction unitRef="sqft" contextRef="i1e754a62dc474761b1988bb8d2bc6d13_I20220331" decimals="0" name="us-gaap:AreaOfRealEstateProperty" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfMTIwNg_baaa0f2c-5f55-4e45-8dfd-fb65c4e1d45c">1,940,000</ix:nonFraction> square feet across urban infill locations in Manhattan, Brooklyn, Queens and New Jersey. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At acquisition we made the election to account for our interest in the NYC Retail Portfolio under the fair value option. We have no unfunded commitments. Our investment in the NYC Retail Portfolio is presented on our Consolidated Balance Sheets within real estate fund investments. Changes in the fair value of our investment as well as cash distributions received are recorded on our Consolidated Statements of Operations within income from unconsolidated real estate affiliates and fund investments.  As of March&#160;31, 2022 and December&#160;31, 2021, the carrying amount of our investment in the NYC Retail Portfolio was $<ix:nonFraction unitRef="usd" contextRef="i1e754a62dc474761b1988bb8d2bc6d13_I20220331" decimals="-3" name="us-gaap:RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfMzA3MQ_ca89cfcd-041d-4306-a10b-099ebf023d99">83,427</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="ifbdf24e6d3984b1794610c0993e2dca5_I20211231" decimals="-3" name="us-gaap:RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfMzA3OA_47fd3e7a-480e-4662-9140-74bf73da3bf5">84,874</ix:nonFraction>, respectively. During the three months ended March 31, 2022, we recorded a decrease in fair value of our investment in the NYC Retail Portfolio of $<ix:nonFraction unitRef="usd" contextRef="icb59b0ea147340b48f1e9844adae6b6f_D20220101-20220331" decimals="-3" sign="-" name="us-gaap:UnrealizedGainLossOnInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfMzE5Nw_f3b2ecf3-42eb-4a76-a0b8-dc1000a84bdf">1,447</ix:nonFraction> and received no cash distributions.  During the three months ended March 31, 2021, we recorded an increase in fair value of our investment in the NYC Retail Portfolio of $<ix:nonFraction unitRef="usd" contextRef="ic4d1335425fa47fb824e7387405861da_D20210101-20210331" decimals="-3" name="us-gaap:UnrealizedGainLossOnInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfMzQ1Mg_7f649525-b703-440a-88a3-ec2ab862291d">1,081</ix:nonFraction> and received no cash distributions. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Single-Family Rental Portfolio</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 5, 2021, we acquired a <ix:nonFraction unitRef="number" contextRef="i0fd602cadf94438c830d32b1c11a4eca_I20210805" decimals="INF" name="us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfMzcxOA_acbf4f50-d285-46be-81a0-0b8648eb7d9a">47</ix:nonFraction>% interest in a portfolio of approximately 4,000 stabilized single family rental homes located in various markets across the United States, including Atlanta, Dallas, Phoenix, Nashville and Charlotte, among others (the "Single-Family Rental Portfolio"). The portfolio is encumbered by securitized mortgages in a net amount of approximately $<ix:nonFraction unitRef="usd" contextRef="i58bc00d94df2402a9d14b4663ca2cd6f_I20210805" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNDA1Ng_5b99d51a-c7aa-4905-b6bb-244282c7b10f">760,000</ix:nonFraction> maturing in the fourth quarter of 2025 at a weighted average interest rate of <ix:nonFraction unitRef="rate" contextRef="i58bc00d94df2402a9d14b4663ca2cd6f_I20210805" decimals="INF" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNDEzNw_c6ad1c86-793c-4095-b3eb-8c07949f7f4d">2.1</ix:nonFraction>%. The equity purchase price of our <ix:nonFraction unitRef="number" contextRef="i0fd602cadf94438c830d32b1c11a4eca_I20210805" decimals="INF" name="us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNDE3MQ_acbf4f50-d285-46be-81a0-0b8648eb7d9a">47</ix:nonFraction>% interest was approximately $<ix:nonFraction unitRef="usd" contextRef="i58bc00d94df2402a9d14b4663ca2cd6f_I20210805" decimals="-3" name="us-gaap:RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNDIwMg_db30e0a8-d5f3-4cfc-9bdb-b3ad279ca87b">205,000</ix:nonFraction>.  We funded the transaction using cash on hand and a draw on our Revolving Credit Facility.   </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At acquisition we made the election to account for our interest in the Single-Family Rental Portfolio under the fair value option. As of March&#160;31, 2022 and December&#160;31, 2021, the carrying amount of our investment in the Single-Family Rental Portfolio was $<ix:nonFraction unitRef="usd" contextRef="id45f516aa01f46cbb205d9f73c88c299_I20220331" decimals="-3" name="us-gaap:RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNDM4OQ_385c3253-cf82-4201-8aab-47c172aee051">293,386</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i667ff07219a24b01bc29c0de6903f8f5_I20211231" decimals="-3" name="us-gaap:RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfMjc0ODc3OTA3NDY5NA_f1693a30-3422-4cd3-a5f5-4255bd1cb65d">268,031</ix:nonFraction>, respectively.  During the three months ended March 31, 2022, we recorded an increase in fair value of our investment in the Single-Family Rental Portfolio of $25,355.  During the three months ended March 31, 2022, we received distributions of income totaling $<ix:nonFraction unitRef="usd" contextRef="i7a3deb8834c34570b3c946073687454c_D20220101-20220331" decimals="-3" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNDU2OA_f9768a52-20fc-480b-b3b3-2e95aea1fcb5">2,355</ix:nonFraction>.  This cash distribution of income increased income from unconsolidated real estate affiliates and fund investments.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Summarized Statement of Operations&#8212;NYC Retail Portfolio Investment and Single-Family Rental Portfolio&#8212;Fair</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Value Option Investment</span></div><div style="margin-top:10pt"><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:FairValueOptionQuantitativeDisclosuresTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RleHRyZWdpb246OGE2OGVhYjRiNmY0NDAwMDgyNjQ3YmU3Y2IyZTJhYzFfNDg0NA_6762f58d-b036-4d85-af79-1585f6e95ea1" escape="true"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.882%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.545%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total revenue</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba9f1d8633d44d9eb0168ff2251f2bd9_D20220101-20220331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjExYTJlNWZjODM0MDQwNDNhMDEyNmU2YmFlMzFhYmFlL3RhYmxlcmFuZ2U6MTFhMmU1ZmM4MzQwNDA0M2EwMTI2ZTZiYWUzMWFiYWVfMS0xLTEtMS03MjcyNg_b6e67d66-5b18-4d3f-91d9-92dc3e3ad562">19,795</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i7a03f23f117f4d45815ae2c1310c94a8_D20210101-20210331" decimals="-3" name="us-gaap:Revenues" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjExYTJlNWZjODM0MDQwNDNhMDEyNmU2YmFlMzFhYmFlL3RhYmxlcmFuZ2U6MTFhMmU1ZmM4MzQwNDA0M2EwMTI2ZTZiYWUzMWFiYWVfMS0zLTEtMS03MjcyNg_22cc9480-f203-4045-aced-81d23de4061c">36</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net investment income (loss)</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba9f1d8633d44d9eb0168ff2251f2bd9_D20220101-20220331" decimals="-3" name="us-gaap:NetInvestmentIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjExYTJlNWZjODM0MDQwNDNhMDEyNmU2YmFlMzFhYmFlL3RhYmxlcmFuZ2U6MTFhMmU1ZmM4MzQwNDA0M2EwMTI2ZTZiYWUzMWFiYWVfMy0xLTEtMS03MjcyNg_7e6ec6fb-429e-4e72-b8f6-66628c9a015a">7,684</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i7a03f23f117f4d45815ae2c1310c94a8_D20210101-20210331" decimals="-3" name="us-gaap:NetInvestmentIncome" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjExYTJlNWZjODM0MDQwNDNhMDEyNmU2YmFlMzFhYmFlL3RhYmxlcmFuZ2U6MTFhMmU1ZmM4MzQwNDA0M2EwMTI2ZTZiYWUzMWFiYWVfMy0zLTEtMS03MjcyNg_b387f3bd-7af0-4cab-804a-4b204f33d9a6">493</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net change in unrealized gain on investment in real estate venture</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba9f1d8633d44d9eb0168ff2251f2bd9_D20220101-20220331" decimals="-3" name="us-gaap:UnrealizedGainLossOnInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjExYTJlNWZjODM0MDQwNDNhMDEyNmU2YmFlMzFhYmFlL3RhYmxlcmFuZ2U6MTFhMmU1ZmM4MzQwNDA0M2EwMTI2ZTZiYWUzMWFiYWVfNC0xLTEtMS03MjcyNg_e382af9b-4ae6-469b-b047-2667da8f58ac">66,844</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i7a03f23f117f4d45815ae2c1310c94a8_D20210101-20210331" decimals="-3" name="us-gaap:UnrealizedGainLossOnInvestments" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjExYTJlNWZjODM0MDQwNDNhMDEyNmU2YmFlMzFhYmFlL3RhYmxlcmFuZ2U6MTFhMmU1ZmM4MzQwNDA0M2EwMTI2ZTZiYWUzMWFiYWVfNC0zLTEtMS03MjcyNg_3185f07b-c819-4642-b69f-42075285203c">3,907</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net income</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba9f1d8633d44d9eb0168ff2251f2bd9_D20220101-20220331" decimals="-3" sign="-" 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style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i7a03f23f117f4d45815ae2c1310c94a8_D20210101-20210331" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8zNy9mcmFnOjhhNjhlYWI0YjZmNDQwMDA4MjY0N2JlN2NiMmUyYWMxL3RhYmxlOjExYTJlNWZjODM0MDQwNDNhMDEyNmU2YmFlMzFhYmFlL3RhYmxlcmFuZ2U6MTFhMmU1ZmM4MzQwNDA0M2EwMTI2ZTZiYWUzMWFiYWVfNS0zLTEtMS03MjcyNg_8a367fb0-e8f5-4670-bac2-9a2f8a3725a5">3,414</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></ix:nonNumeric></div></ix:continuation><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_43"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 5&#8212;<ix:nonNumeric 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNjM1Ng_e99cb300-40ec-42e4-af69-0860e929e519" escape="true"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mortgage notes and other debt payable have various maturities through 2032 and consist of the following:</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:36.876%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.641%"></td><td style="width:0.1%"></td><td 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style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity&#160;Date</span></div></td><td colspan="3" rowspan="2" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest<br/>Rate</span></div></td><td colspan="3" rowspan="2" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount payable as of</span></div></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New 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style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 1, 2023 - March 1, 2032</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="rate" contextRef="i3f0d2c779b2f49be82e05ff18aeae12f_I20220331" decimals="INF" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfMi00LTEtMS03MjcyNi90ZXh0cmVnaW9uOmY0Mjg4OWM3MTRlMzRiYjViMWU3ZmM5ZjYyZTRmMDY4XzM4NDgyOTA2OTcyMjg_1ed61f83-4480-4283-981d-025057020ad5">1.76</ix:nonFraction>% - <ix:nonFraction unitRef="rate" contextRef="i9cdb4dd40188426ead45bb1814718103_I20220331" decimals="INF" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" scale="-2" 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Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i4de821217c3c4a44abc60b15e733021b_I20211231" decimals="-3" name="us-gaap:NotesPayable" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfMi04LTEtMS03MjcyNg_88ff4627-24da-42bf-aff6-c3441ef45a2b">1,184,620</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Credit facility</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revolving line of credit</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 25, 2024</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="rate" contextRef="ib9d2c5facb1e4e67b8a4b008296b0ef7_I20220331" decimals="4" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNS00LTEtMS03MjcyNg_6448b1e6-67cf-47e5-9032-9ac0e6e26c8d">1.90</ix:nonFraction>%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ib9d2c5facb1e4e67b8a4b008296b0ef7_I20220331" decimals="-3" name="jllipt:RevolvingLineofCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNS02LTEtMS03MjcyNg_208c8f42-f954-411a-94cc-6a9269a0e3c0">205,000</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="idc9839faee9f4046b95cd23db404e436_I20211231" decimals="-3" name="jllipt:RevolvingLineofCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNS04LTEtMS03MjcyNg_d02f2dd7-a9d5-4134-99e9-3f3019dda8f8">300,000</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Bridge loan</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 1, 2022</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="rate" contextRef="i588bf7ff139342d98f023169640e054b_I20220331" decimals="4" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNi00LTEtMS04MTU1Nw_e45e3820-642a-4fd0-9586-baa1a4125094">1.86</ix:nonFraction>%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie567c6f48a5d4d9db7ca07557a0100ce_I20220331" decimals="-3" name="us-gaap:BridgeLoan" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNi02LTEtMS04MzYwOA_753f692e-037e-408c-a8f3-6676097aad41">100,000</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="id2f58d6a286a40f4a1b1a3f0fb805c1e_I20211231" decimals="-3" name="us-gaap:BridgeLoan" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNi04LTEtMS04MTUxMA_f23c7bd1-96ec-4e40-b60a-b2b1ee1e1f92">100,000</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Term loans</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 25, 2024</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="rate" contextRef="i5e579ee6054d4cddb0a40acbb83c0fc7_I20220331" decimals="INF" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNi00LTEtMS03MjcyNi90ZXh0cmVnaW9uOmQ0MTJlOTI1ODEwNjQ4M2ViOGQwMjcxMmY1NWQzYTEwXzM4NDgyOTA2OTcyMjg_0712752e-4dba-4fb1-a511-efef65c88a06">1.90</ix:nonFraction>% - <ix:nonFraction unitRef="rate" contextRef="i6ad61bc076504c059ac5dbfd15fe3165_I20220331" decimals="INF" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNi00LTEtMS03MjcyNi90ZXh0cmVnaW9uOmQ0MTJlOTI1ODEwNjQ4M2ViOGQwMjcxMmY1NWQzYTEwXzM4NDgyOTA2OTcyMzI_01712832-254e-4e12-90bb-bbf7dce98dda">3.40</ix:nonFraction>%</span></div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i4b4c3d63a30c4a0b8111b27087552878_I20220331" decimals="-3" name="us-gaap:LineOfCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNi02LTEtMS03MjcyNg_a7a6b5b7-4db8-4c54-ade3-9965cf31b550">235,000</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i92174f2cd8a046289ed02699a1945772_I20211231" decimals="-3" name="us-gaap:LineOfCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNi04LTEtMS03MjcyNg_ff56cf67-38a7-40b6-b776-74e65cadd828">235,000</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">TOTAL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:NotesPayable" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNy02LTEtMS03MjcyNg_6c04a3f6-361c-4430-9769-93a10d427e5f">1,818,479</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:NotesPayable" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfNy04LTEtMS03MjcyNg_769497f3-8be8-4eb5-91ed-43310dd19976">1,819,620</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net debt discount on assumed debt and debt issuance costs</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:DeferredFinanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfOC02LTEtMS03MjcyNg_79d913ff-b99f-45f4-b815-a967e7501c0c">1,523</ix:nonFraction>)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:DeferredFinanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfOC04LTEtMS03MjcyNg_f0aa6856-8ea5-46d4-a34e-f6d0015f920d">1,956</ix:nonFraction>)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="15" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mortgage notes and other debt payable, net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfOS02LTEtMS03MjcyNg_49c29021-ed67-48a0-8434-75440ff51a2d">1,816,956</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFjYTY4YjA3YTE5YTRjZWJhNGNmNDI4ZjA1MTIwZTE2L3RhYmxlcmFuZ2U6YWNhNjhiMDdhMTlhNGNlYmE0Y2Y0MjhmMDUxMjBlMTZfOS04LTEtMS03MjcyNg_0dfd182f-14ed-4210-9611-09f16c8979e4">1,817,664</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:9pt;padding-left:27pt;text-indent:-27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1) &#160;&#160;&#160;&#160;During the three months ending March 31, 2022, we entered into the following new mortgage notes payable:</span></div><div style="margin-top:9pt;padding-left:63pt;text-indent:-45pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:41.5pt">On March 1, 2022, we entered into a $<ix:nonFraction unitRef="usd" contextRef="i5b9f441e87184f1b97c9ea44fd9250fc_I20220301" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzg0ODI5MDcwNzczOQ_f9108448-5428-4a09-b4b8-5d4b4a686c28">55,800</ix:nonFraction> mortgage payable on Reserve at Venice. The mortgage note bears an interest of <ix:nonFraction unitRef="rate" contextRef="i5b9f441e87184f1b97c9ea44fd9250fc_I20220301" decimals="INF" name="us-gaap:DerivativeFixedInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzg0ODI5MDcwNzg3Nw_f668437b-f70d-43d5-a5ee-5e18ab5ebeed">2.98</ix:nonFraction>% and matures on March 1, 2032. </span></div><div style="margin-top:9pt;padding-left:63pt;text-indent:-45pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:41.5pt">On March 1, 2022, we entered into a $<ix:nonFraction unitRef="usd" contextRef="i26ff61a7b7d944519dd3ecb7b3ffa468_I20220301" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzg0ODI5MDcwNzk2Ng_5853cbfb-795b-4337-b738-2351521dd581">40,000</ix:nonFraction> mortgage payable on Friendship Distribution Center.  The mortgage note bears an interest rate of SOFR plus 1.75% (<ix:nonFraction unitRef="rate" contextRef="i26ff61a7b7d944519dd3ecb7b3ffa468_I20220301" decimals="INF" name="us-gaap:DerivativeFixedInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzg0ODI5MDcwNzk3MA_c7ba7a35-7893-4174-925f-e9b937cedf77">2.03</ix:nonFraction>% at March 31, 2022) and matures on March 1, 2029.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNjM2Ng_9d2df9d5-af61-4243-af37-b9f8093debc5" escape="true"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Aggregate future principal payments of mortgage notes and other debt payable as of March&#160;31, 2022 are as follows:</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</span></div><div style="margin-top:10pt;text-align:center;text-indent:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:39.766%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.327%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount</span></div></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFhMzFkNDZjMDFmYTQxODE4ZTI4ZDAyMWRlZWE1YmQ2L3RhYmxlcmFuZ2U6YWEzMWQ0NmMwMWZhNDE4MThlMjhkMDIxZGVlYTViZDZfMS0yLTEtMS03MjcyNg_ee6a9525-eb73-4d87-a38a-e4167f13242c">105,869</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFhMzFkNDZjMDFmYTQxODE4ZTI4ZDAyMWRlZWE1YmQ2L3RhYmxlcmFuZ2U6YWEzMWQ0NmMwMWZhNDE4MThlMjhkMDIxZGVlYTViZDZfMi0yLTEtMS03MjcyNg_b5c4d647-219f-4dd9-82e5-a22f170a5dd4">89,890</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFhMzFkNDZjMDFmYTQxODE4ZTI4ZDAyMWRlZWE1YmQ2L3RhYmxlcmFuZ2U6YWEzMWQ0NmMwMWZhNDE4MThlMjhkMDIxZGVlYTViZDZfMy0yLTEtMS03MjcyNg_8d5d4d7f-c526-4e89-a542-21bb12ae7eac">464,917</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFhMzFkNDZjMDFmYTQxODE4ZTI4ZDAyMWRlZWE1YmQ2L3RhYmxlcmFuZ2U6YWEzMWQ0NmMwMWZhNDE4MThlMjhkMDIxZGVlYTViZDZfNC0yLTEtMS03MjcyNg_01252f15-56e8-4c6c-96b2-e4a1519c2c11">192,296</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFhMzFkNDZjMDFmYTQxODE4ZTI4ZDAyMWRlZWE1YmQ2L3RhYmxlcmFuZ2U6YWEzMWQ0NmMwMWZhNDE4MThlMjhkMDIxZGVlYTViZDZfNS0yLTEtMS03MjcyNg_9660e557-1d57-4e80-ace3-f90dbbbd79fc">308,023</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFhMzFkNDZjMDFmYTQxODE4ZTI4ZDAyMWRlZWE1YmQ2L3RhYmxlcmFuZ2U6YWEzMWQ0NmMwMWZhNDE4MThlMjhkMDIxZGVlYTViZDZfNi0yLTEtMS03MjcyNg_a1013461-9781-4f3c-aa87-732c8ca13497">657,484</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:NotesPayable" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RhYmxlOmFhMzFkNDZjMDFmYTQxODE4ZTI4ZDAyMWRlZWE1YmQ2L3RhYmxlcmFuZ2U6YWEzMWQ0NmMwMWZhNDE4MThlMjhkMDIxZGVlYTViZDZfNy0yLTEtMS03MjcyNg_891be2e4-64e6-41f0-88fb-840a6d468754">1,818,479</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Facility</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 24, 2021, we entered into a credit agreement providing for a $<ix:nonFraction unitRef="usd" contextRef="ide5806fab6e14a5183599a684bfadb70_I20210524" decimals="-3" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMjg3MA_10027c73-969e-4d23-bf5c-f2e7bb5bc80a">650,000</ix:nonFraction> revolving line of credit and unsecured term loan (collectively, the &#8220;Credit Facility&#8221;) with a syndicate of eight lenders led by JPMorgan Chase Bank, N.A., Bank of America, N.A., PNC Capital Markets LLC and Wells Fargo Bank, N.A. The Credit Facility provides us with the ability, from time to time, to increase the size of the Credit Facility up to a total of $800 million, subject to receipt of lender commitments and other conditions. The $650,000 Credit Facility consists of a $<ix:nonFraction unitRef="usd" contextRef="ide5806fab6e14a5183599a684bfadb70_I20210524" decimals="-3" name="jllipt:RevolvingLineofCreditMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzM1Mg_e3ffee47-bd88-44a4-a827-a374b6660c67">415,000</ix:nonFraction> revolving credit facility (the &#8220;Revolving Credit Facility&#8221;) and a $<ix:nonFraction unitRef="usd" contextRef="ide5806fab6e14a5183599a684bfadb70_I20210524" decimals="-3" name="jllipt:TermLoanMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzQyMQ_4a3f9d48-9abb-4565-8f4d-cd974407de62">235,000</ix:nonFraction> term loan (the &#8220;Term Loan&#8221;). The Revolving Credit Facility contains a sublimit of $25,000 for letters of credit. The primary interest rate for the Revolving Credit Facility is based on LIBOR, plus a margin ranging from <ix:nonFraction unitRef="number" contextRef="idb2ea2b736e244ec8aa188536d777a8f_D20220101-20220331" decimals="INF" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzYzOA_f49d3ccf-7ea0-4efb-bde7-6f312772631e">1.40</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="i515c0d1390834a68aeb4b0ce265a3a98_D20220101-20220331" decimals="INF" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzY0NA_7ec50844-48b1-4acc-be3a-5ef3b4ffa79d">2.10</ix:nonFraction>%, depending on our total leverage ratio. The primary interest rate for the Term Loan is based on LIBOR, plus a margin ranging from <ix:nonFraction unitRef="number" contextRef="ib485c366df594084aff3b77ce70d781b_I20220331" decimals="INF" name="us-gaap:DerivativeFixedInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzc3Nw_7da89d08-f332-4256-b651-485fb9ea1223">1.35</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="i91aeaf4b11dc4d28aa25d1827ec78ccd_I20220331" decimals="INF" name="us-gaap:DerivativeFixedInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzc4Mw_eddaa659-89c5-4b3f-98ad-6e2b10a46542">2.05</ix:nonFraction>%, depending on our total leverage ratio. The maturity date of the Revolving Credit Facility and the Term Loan is <ix:nonNumeric contextRef="i85ac54368e934c07bb68b88ebd8cc239_D20220101-20220331" name="us-gaap:DebtInstrumentMaturityDateRangeEnd1" format="ixt:date-monthname-day-year-en" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzg5OA_07e66e8d-c7f5-48f7-86f9-5dfeb8455382">May&#160;24, 2024</ix:nonNumeric>.  Based on our current total leverage ratio, we can elect to borrow at LIBOR plus 1.45% and LIBOR plus 1.40% for the Revolving Credit Facility and Term Loan, respectively, or alternatively, we can choose to borrow at a &#8220;base rate&#8221; equal to (i)&#160;the highest of (a)&#160;the Federal Funds Rate plus 0.5%, (b)&#160;the prime rate announced by JPMorgan Chase Bank, N.A., and (c)&#160;LIBOR plus 1.0%, plus (ii)&#160;a margin ranging from 0.40% to 1.10% for base rate loans under the Revolving Credit Facility or a margin ranging from 0.35% to 1.05% for base rate loans under the Term Loan. If the &#8220;base rate&#8221; is less than 1.0%, it will be deemed to be 1.0% for purposes of the Credit Facility. We intend to use the Revolving Credit Facility to cover short-term capital needs, for new property acquisitions and working capital.  We may not draw funds on our Credit Facility if we (i) experience a material adverse effect, which is defined to include, among other things, (a) a material adverse effect on the </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><ix:continuation id="idcb093e8127d4490881eabd7b2254d29" continuedAt="ic2da2c1cd1cc4ae4bb778f5498d24206"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">business, assets, operations or financial condition of the Company taken as a whole; (b) the inability of any loan party to perform any of its obligations under any loan document; or (c) a material adverse effect upon the validity or enforceability of any loan document or (ii) are in default, as that term is defined in the agreement, including a default under certain other loan agreements and/or guarantees entered into by us or our subsidiaries. As of March&#160;31, 2022, we believe no material adverse effects had occurred.  The Credit Facility provides for alternative rate benchmarks in the event that LIBOR is no longer appropriate or available.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 10, 2021, we entered into an additional $<ix:nonFraction unitRef="usd" contextRef="ie567c6f48a5d4d9db7ca07557a0100ce_I20220331" decimals="-3" name="us-gaap:BridgeLoan" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzg0ODI5MDcxMTMwNg_753f692e-037e-408c-a8f3-6676097aad41">100,000</ix:nonFraction> short-term bridge loan (the "Bridge Loan") with JPMorgan Chase Bank, N.A. under the same terms as our Credit Facility.  The Bridge Loan bears interest at the secured overnight financing rate ("SOFR") plus 1.45% to 2.15% depending on our total leverage ratio.  The maturity date of the Bridge Loan is June 10, 2022 and has two, three month extension options. Based on our current total leverage ratio, this borrowing is priced at SOFR plus 1.70%.  </span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Borrowings under the Credit Facility are guaranteed by us and certain of our subsidiaries. The Credit Facility requires the maintenance of certain financial covenants, including: (i) unencumbered property pool leverage ratio; (ii) debt service coverage ratio; (iii) maximum total leverage ratio; (iv) fixed charges coverage ratio; (v) minimum NAV; (vi) maximum secured debt ratio; (vii) maximum secured recourse debt ratio; (viii) maximum permitted investments; and (ix) unencumbered property pool criteria. The Credit Facility provides the flexibility to move assets in and out of the unencumbered property pool during the term of the Credit Facility.  </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At March&#160;31, 2022, we had $<ix:nonFraction unitRef="usd" contextRef="ib9d2c5facb1e4e67b8a4b008296b0ef7_I20220331" decimals="-3" name="jllipt:RevolvingLineofCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNTUzNQ_208c8f42-f954-411a-94cc-6a9269a0e3c0">205,000</ix:nonFraction> outstanding under the Revolving Credit Facility at LIBOR + 1.65%, $<ix:nonFraction unitRef="usd" contextRef="i4b4c3d63a30c4a0b8111b27087552878_I20220331" decimals="-3" name="jllipt:RevolvingLineofCredit" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNTYwNw_e9211439-7553-40b6-b9e7-ce48e9b583c4">235,000</ix:nonFraction> outstanding under the Term Loan at LIBOR + <ix:nonFraction unitRef="number" contextRef="i4b4c3d63a30c4a0b8111b27087552878_I20220331" decimals="INF" name="us-gaap:DerivativeFixedInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNTY1Mw_aeedcb01-8af0-45a8-bdfa-9e661b0ee442">1.60</ix:nonFraction>%, and $<ix:nonFraction unitRef="usd" contextRef="ie567c6f48a5d4d9db7ca07557a0100ce_I20220331" decimals="-3" name="us-gaap:BridgeLoan" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfMzg0ODI5MDcxMTMxNw_753f692e-037e-408c-a8f3-6676097aad41">100,000</ix:nonFraction> outstanding under the Bridge Loan at SOFR +1.70%.  We swapped the LIBOR portion on $190,000 of our Term Loan to a blended fixed rate of <ix:nonFraction unitRef="number" contextRef="iaa88941277ca4feeb229ee544e3338cc_D20220101-20220331" decimals="INF" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNTczNw_afedbe1e-61dc-4293-847a-6dcbd9f4be10">1.93</ix:nonFraction>% (all in rate of <ix:nonFraction unitRef="number" contextRef="icc7418729cc64ad0bf710b2d710c8eb7_D20220101-20220331" decimals="INF" name="us-gaap:DebtInstrumentInterestRateIncreaseDecrease" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNTc1Ng_f7720fa9-4691-474c-b691-9c16b5782f4f">3.53</ix:nonFraction>% at March&#160;31, 2022) and swapped $90,000 of the Revolving Credit Facility to a fixed rate of <ix:nonFraction unitRef="number" contextRef="i77e2e610476847c29859cf00d4c98665_D20220101-20220331" decimals="INF" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNTgzNA_d35cedfb-cc00-4169-9eab-e882aa2e9bc3">2.64</ix:nonFraction>% (all in rate of <ix:nonFraction unitRef="number" contextRef="i494b42b68b3b4386bfee1b522fcb6847_D20220101-20220331" decimals="INF" name="us-gaap:DebtInstrumentInterestRateIncreaseDecrease" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNTg1Mw_d7ed163b-e45c-4011-98fe-6de4e9d2f679">4.04</ix:nonFraction>% at March&#160;31, 2022). The interest rate swap agreements have maturity dates ranging from May 26, 2022 through February 17, 2023.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Covenants</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At March&#160;31, 2022, we were in compliance with all debt covenants.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Debt Issuance Costs</span></div></ix:continuation><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="ic2da2c1cd1cc4ae4bb778f5498d24206">Debt issuance costs are capitalized, and presented net of mortgage notes and other debt payable, and amortized over the terms of the respective agreements as a component of interest expense. Accumulated amortization of debt issuance costs at March&#160;31, 2022 and December&#160;31, 2021 was $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:AmortizationOfFinancingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNjMxMw_74190251-af6e-425a-a546-e618b1892fc0">8,818</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i680579fac309468cbadb7c44ae40f7f8_D20210101-20211231" decimals="-3" name="us-gaap:AmortizationOfFinancingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80My9mcmFnOjBiNzBmMjViMGZhOTQxMjFiYzhmOGY0OTRhMjIzNWMzL3RleHRyZWdpb246MGI3MGYyNWIwZmE5NDEyMWJjOGY4ZjQ5NGEyMjM1YzNfNjMyMA_af645ce0-4a9d-41e1-b07e-42e6347973c6">8,024</ix:nonFraction>, respectively.</ix:continuation> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_46"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 6&#8212;<ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfNjAxNQ_3386bc72-1113-4bbd-94dd-90f8e3667c33" continuedAt="id69097e4231f432fb713ca94efaf360a" escape="true">COMMON STOCK</ix:nonNumeric></span></div><ix:continuation id="id69097e4231f432fb713ca94efaf360a" continuedAt="i86fe80b794b84b01bf208f86bd97e3f5"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have five classes of common stock: Class A, Class M, Class A-I, Class M-I, and Class D.  The fees payable to LaSalle Investment Management Distributors, LLC, an affiliate of our Advisor and the dealer manager for our offerings (the "Dealer Manager"), with respect to each outstanding share of each class, as a percentage of NAV, are as follows:</span></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="jllipt:OfferingCostFeesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfNjAyNQ_8c12a12b-9398-4713-9446-aa0c5c46e162" continuedAt="icab7d99f9c384098a7f02299717d93a5" escape="true"><div style="margin-bottom:10pt;margin-top:10pt;text-align:center;text-indent:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:61.549%"><tr><td style="width:1.0%"></td><td style="width:28.116%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.391%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:33.819%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Selling Commission </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dealer Manager Fee </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class A Shares</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">up to 3.0%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.85%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class M Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.30%</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class A-I Shares</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">up to 1.5%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.30%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class M-I Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class D Shares </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">up to 1.0%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None</span></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:6pt;padding-left:27pt;text-indent:-27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1) &#160;&#160;&#160;&#160;Selling commissions are paid on the date of sale of our common stock.</span></div><div style="margin-top:6pt;padding-left:27pt;text-indent:-27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2) &#160;&#160;&#160;&#160;We accrue all future dealer manager fees up to the ten percent regulatory limitation as accrued offering costs on our Consolidated Balance Sheets on the date of sale of our common stock.  For NAV calculation purposes, dealer manager fees are accrued daily, on a continuous basis equal to 1/365th of the stated fee.  Each Class A, Class M and Class A-I share sold in a public offering will automatically convert into the number of Class M-I shares based on the then-current applicable NAV of each class on the date following the termination of the primary portion of such public offering in which we, with the assistance of the Dealer Manager, determine that total underwriting compensation paid with respect to such public offering equals 10% of the gross proceeds from the primary portion of such public offering.</span></div><div style="margin-top:6pt;padding-left:27pt;text-indent:-27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3) &#160;&#160;&#160;&#160;Shares of Class D common stock are only being offered pursuant to a private offering.</span></div></ix:nonNumeric><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="icab7d99f9c384098a7f02299717d93a5">The selling commissions and dealer manager fees are offering costs and are recorded as a reduction of additional paid in capital.</ix:continuation> </span></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="jllipt:StockTransactionsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfNjAzMA_a115d296-e371-4e53-a773-2ae1ffb43584" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Stock Transactions</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The stock transactions for each of our classes of common stock for the three months ended March 31, 2022 were as follows:</span></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.496%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.180%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.457%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Shares of </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class A </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Common Stock</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Shares of </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class M</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Common Stock</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Shares of</span></div><div style="text-align:center"><span 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Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="shares" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="0" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfMy00LTEtMS03MjcyNg_238b7351-9d96-4f4c-bf86-f00c89727c4e">411,640</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="shares" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="0" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfMy02LTEtMS03MjcyNg_61b344f4-cfab-4857-9dfd-8233c25e4b5e">67,146</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="shares" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="0" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfMy04LTEtMS03MjcyNg_d9946a9a-2301-4bbb-9d8b-44762b47b412">443,752</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="shares" contextRef="i0a6344e005f14c45adf0ffeb2d18565d_D20220101-20220331" decimals="0" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfMy0xMC0xLTEtNzI3MjY_18d0608d-cce2-404d-a142-d102d0175c12">1,471,670</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share conversions</span></td><td 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style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="shares" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="0" sign="-" name="us-gaap:ConversionOfStockSharesIssued1" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfNC00LTEtMS03MjcyNg_b22e7672-c82b-4d60-9c50-a78f69775a4f">178,956</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="0" name="us-gaap:ConversionOfStockSharesIssued1" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfNC02LTEtMS03MjcyNg_7c825051-f070-413b-995f-c49f7f51d92e">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="0" name="us-gaap:ConversionOfStockSharesIssued1" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfNC04LTEtMS03MjcyNg_b16a7f70-062a-4e48-8e54-c0bdf623ef78">182,133</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i0a6344e005f14c45adf0ffeb2d18565d_D20220101-20220331" decimals="0" name="us-gaap:ConversionOfStockSharesIssued1" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfNC0xMC0xLTEtNzI3MjY_d14e31f7-81c0-432f-ba91-e19fbda86ac7">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Balance, March 31, 2022</span></div></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i43a8cc49250b4110987b3b7cc1c144de_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfNS0yLTEtMS03MjcyNg_54928d66-2abb-40a0-9587-6f4409caceee">104,576,961</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i76a689ba6174470abd9a866c4eedd84a_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfNS00LTEtMS03MjcyNg_b796d25c-b4cb-452d-a802-2d0475b82284">37,681,185</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="if9353824faef406eb42a76feef61c616_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfNS02LTEtMS03MjcyNg_7c5a231e-9509-493d-9379-1620f0152ff6">9,335,732</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i4c35659b1f2544d780641d0f0bfc474d_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfNS04LTEtMS03MjcyNg_178bbdec-e616-418e-99d2-9b48b1b2a463">61,681,208</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i7e99a59d4bb84efaaa36fd9cee277fe8_I20220331" decimals="0" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjhiNzY4ZTAwM2IzZDRjYTE4Mzg1NTgxNGZjMmYwYTM5L3RhYmxlcmFuZ2U6OGI3NjhlMDAzYjNkNGNhMTgzODU1ODE0ZmMyZjBhMzlfNS0xMC0xLTEtNzI3MjY_5a03563c-c7f3-4975-9720-1ff883dd2066">6,041,611</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:ScheduleOfStockByClassTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfNjAzMQ_f77697f9-9b6a-4c92-a906-c46074455365" escape="true"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Stock Issuances</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The stock issuances for our classes of common stock, including those issued through our distribution reinvestment plan, for the three months ended March 31, 2022 were as follows: </span></div><div style="margin-top:9.09pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:50.438%"><tr><td style="width:1.0%"></td><td style="width:38.030%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.249%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.885%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.249%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.887%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%"># of shares</span></div></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount </span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class A Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i6cd9b1d83d0e46b8b45cf29d9083a32c_D20220101-20220331" decimals="0" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfMi0yLTEtMS03MjcyNg_6569b6b7-dfae-4e07-861b-3910c58057ac">5,159,782</ix:nonFraction></span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6cd9b1d83d0e46b8b45cf29d9083a32c_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfMi00LTEtMS03MjcyNg_1acd6b13-4944-41aa-9c7e-7c7c8a0cd6b2">72,277</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class M Shares</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="0" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfMy0yLTEtMS03MjcyNg_b57565e9-43b4-43c7-9d1e-044bbb006f9d">1,813,590</ix:nonFraction></span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfMy00LTEtMS03MjcyNg_4fe17506-5459-441f-9957-bf93b4974aa4">25,361</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class A-I Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="0" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfNC0yLTEtMS03MjcyNg_8e5129dc-132b-4a6d-aa19-4c2268164fc7">46,569</ix:nonFraction></span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfCommonStock" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfNC00LTEtMS03MjcyNg_5b9f0408-0c39-4f5c-8df2-4bfbd3d63f83">677</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class M-I Shares</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="0" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfNS0yLTEtMS03MjcyNg_ac8c0182-5a25-4649-9709-3a696941486f">9,266,134</ix:nonFraction></span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfCommonStock" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfNS00LTEtMS03MjcyNg_201ba789-b61d-4116-ab5a-f436454756c5">129,266</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Class D Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i0a6344e005f14c45adf0ffeb2d18565d_D20220101-20220331" decimals="0" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfNi0yLTEtMS03MjcyNg_98df2245-515a-42b5-850c-97f05852cdb1">&#8212;</ix:nonFraction></span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0a6344e005f14c45adf0ffeb2d18565d_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfCommonStock" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfNi00LTEtMS03MjcyNg_fbab9acb-6dc1-41dd-b332-4ffd1bad6bb7">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:SaleOfStockConsiderationReceivedOnTransaction" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOjVhNDBhMzhhNzNhODQyZmJhNzgwMWJiN2M1YjllMjc2L3RhYmxlcmFuZ2U6NWE0MGEzOGE3M2E4NDJmYmE3ODAxYmI3YzViOWUyNzZfNy00LTEtMS03MjcyNg_c616917b-c046-4a45-b851-84b9d94aa639">227,581</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><ix:continuation id="i86fe80b794b84b01bf208f86bd97e3f5" continuedAt="if4677d6f2263431dadcfb776fae3a6d3"><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Share Repurchase Plan</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our share repurchase plan allows stockholders, subject to a one-year holding period, with certain exceptions, to request that we repurchase all or a portion of their shares of common stock on a daily basis at that day's NAV per share, limited to <ix:nonFraction unitRef="number" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="INF" name="jllipt:Stockrepurchaselimit" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjA0OA_ee8b7b7e-0331-46ea-9268-12648969856b">5</ix:nonFraction>% of aggregate Company NAV per quarter. For the three months ended March 31, 2022, we repurchased <ix:nonFraction unitRef="shares" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="0" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjExNg_02326eea-6049-4d22-abb3-416e258edeb7">3,012,118</ix:nonFraction> shares of common stock in the amount of $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjE1OQ_736f08a7-15b2-4be7-a94b-a20b1f5a9488">41,266</ix:nonFraction>. During the three months ended March 31, 2021, we repurchased <ix:nonFraction unitRef="shares" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="0" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjE5Mw_adc325d1-9e75-42ad-908d-9e5897e4bb75">3,830,592</ix:nonFraction> shares of common stock in the amount of $<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjIzNg_b679da13-89cb-4dc8-a7ec-5a50ee3493e5">44,794</ix:nonFraction>. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Distribution Reinvestment Plan</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to our distribution reinvestment plan, holders of shares of any class of our common stock may elect to have their cash distributions reinvested in additional shares of our common stock at the NAV per share applicable to the class of shares being purchased on the distribution date.  For the three months ended March 31, 2022, we issued <ix:nonFraction unitRef="shares" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="0" name="us-gaap:StockIssuedDuringPeriodSharesDividendReinvestmentPlan" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjU4Ng_85cf17c2-0f6b-48e5-aaf9-651db7373483">1,217,520</ix:nonFraction> shares of common stock for $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjYxNg_fed6d0e1-3ba7-4908-9fe6-9437257e12c7">17,666</ix:nonFraction> under the distribution reinvestment plan. For the three months ended March 31, 2021, we issued <ix:nonFraction unitRef="shares" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="0" name="us-gaap:StockIssuedDuringPeriodSharesDividendReinvestmentPlan" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjY4Mw_19c3ae69-0b31-4567-8e81-ba970cb1aae2">1,161,954</ix:nonFraction> shares of common stock for $<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjcxMw_0b84b13e-928e-49ef-b0ac-9064df48cd1b">13,734</ix:nonFraction> under the distribution reinvestment plan.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating Partnership Units</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the acquisitions of Siena Suwanee Town Center and South San Diego Distribution Center, we issued <ix:nonFraction unitRef="shares" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="0" name="us-gaap:PartnersCapitalAccountUnitsUnitbasedCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjg2MQ_ed66febd-fe40-4028-9111-7597d5db2062">7,037,257</ix:nonFraction> OP Units to third parties for a total of $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueConversionOfUnits" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfMjkwNQ_ccf6156e-c92a-4cda-aaa1-51aca8ff34c0">88,925</ix:nonFraction>.  After a one-year holding period, holders of OP Units generally have the right to cause the operating partnership to redeem all or a portion of their OP Units for, at our sole discretion, shares of our common stock, cash, or a combination of both.  During the three months ended March 31, 2022 we did not issue any additional OP Units.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Earnings Per Share</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We compute net income per share for Class A, Class M, Class A-I, Class M-I and Class D common stock using the two-class method. Our Advisor may earn a performance fee (see </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_55">Note 9-Related Party Transactions</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), which may impact the net income of each class of common stock differently. In periods where no performance fee is recognized in our Consolidated Statements of Operations and Comprehensive Income, the net income per share will be the same for each class of common stock.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic and diluted net income per share for each class of common stock is computed using the weighted-average number of common shares outstanding during the period for each class of common stock. We have not issued any dilutive or potentially dilutive securities, and thus the basic and diluted net income per share for a given class of common stock is the same for each period presented.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets forth the computation of basic and diluted net income per share for each of our Class A, Class M, Class A-I, Class M-I and Class D common stock: </span><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="jllipt:ScheduleofEarningsPerShareTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfNjAzOA_a6a53c9d-bc98-46d7-b002-c766ffe99b2e" escape="true"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.830%"><tr><td style="width:1.0%"></td><td style="width:46.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.107%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.811%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.811%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.811%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.223%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="27" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:27pt;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class A</span></div></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class M</span></div></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class A-I</span></div></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class M-I</span></div></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class D</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Basic and diluted net income per share:</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Allocation of net income per share before performance fee</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 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1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="-3" name="jllipt:NetIncomebeforeperformancefee" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMy0zLTEtMS03MjcyNg_fffc2875-4113-4009-ba28-82c8158f2a9a">8,042</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="-3" name="jllipt:NetIncomebeforeperformancefee" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMy01LTEtMS03MjcyNg_1dbaf975-808b-4ea7-83b7-cf84b5524814">2,044</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="-3" name="jllipt:NetIncomebeforeperformancefee" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMy03LTEtMS03MjcyNg_42145f45-a5cb-47dd-805b-a49f80986d50">12,498</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0a6344e005f14c45adf0ffeb2d18565d_D20220101-20220331" decimals="-3" name="jllipt:NetIncomebeforeperformancefee" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMy05LTEtMS03MjcyNg_59f0a32a-8c23-4880-b6ad-d1b8801a6550">1,405</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Allocation of performance fee</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6cd9b1d83d0e46b8b45cf29d9083a32c_D20220101-20220331" decimals="-3" name="us-gaap:NoninterestExpenseRelatedToPerformanceFees" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNC0xLTEtMS03MjcyNg_e85e39d1-0bd2-49f7-ba53-1fe98ca98d94">3,793</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="-3" name="us-gaap:NoninterestExpenseRelatedToPerformanceFees" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNC0zLTEtMS03MjcyNg_f39e0062-4fdf-474b-b91c-b818d34b9c12">1,463</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="-3" name="us-gaap:NoninterestExpenseRelatedToPerformanceFees" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNC01LTEtMS03MjcyNg_2982eace-2108-4752-b110-e62a0a449d8e">353</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="-3" name="us-gaap:NoninterestExpenseRelatedToPerformanceFees" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNC03LTEtMS03MjcyNg_f10754de-a38d-416f-aae7-d0d0c8fb1652">2,370</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0a6344e005f14c45adf0ffeb2d18565d_D20220101-20220331" decimals="-3" name="us-gaap:NoninterestExpenseRelatedToPerformanceFees" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNC05LTEtMS03MjcyNg_88d068d7-381d-4ca1-9404-8983f6cbc516">236</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6cd9b1d83d0e46b8b45cf29d9083a32c_D20220101-20220331" decimals="-3" name="us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNS0xLTEtMS04OTU0NA_18bf6553-8c2c-4f52-88b1-fbb54bd73acb">18,638</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="-3" name="us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNS0zLTEtMS04OTU2NA_42f7a0f8-1887-4bf3-9a3d-63ec9682ea72">6,579</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="-3" name="us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNS01LTEtMS04OTU3Mg_68009c9e-2423-4e28-bfbc-50fc3d2299fb">1,691</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="-3" name="us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNS03LTEtMS04OTU4MA_8a2ece92-389e-490c-91f8-093285db396c">10,128</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0a6344e005f14c45adf0ffeb2d18565d_D20220101-20220331" decimals="-3" name="us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNS05LTEtMS04OTU4OA_05c0986f-8270-4c90-a5ac-d90abf26258d">1,169</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Weighted average number of common shares outstanding</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i6cd9b1d83d0e46b8b45cf29d9083a32c_D20220101-20220331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNi0xLTEtMS03MjcyNg_2809d0cd-2061-46f4-894e-9a3f31a07ea0">102,496,685</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNi0zLTEtMS03MjcyNg_0245e8c1-59a6-4e11-b9d5-6faced7926e2">36,744,790</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNi01LTEtMS03MjcyNg_de5ac72c-6283-451b-89c5-85a6144d9d7a">9,338,376</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNi03LTEtMS03MjcyNg_3899be45-1fa6-4372-89b8-0c4959c353bf">57,107,329</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i0a6344e005f14c45adf0ffeb2d18565d_D20220101-20220331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNi05LTEtMS03MjcyNg_f0c887ff-ca42-4c97-af23-12b10d5f3847">6,417,704</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Basic and diluted net income per share:</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i6cd9b1d83d0e46b8b45cf29d9083a32c_D20220101-20220331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNy0xLTEtMS03MjcyNg_a96012c4-aa1e-4e75-86bb-edbe259b5d79">0.18</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="ibe206d4914794aacbcf6113ea2b520db_D20220101-20220331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNy0zLTEtMS03MjcyNg_94544405-455a-489b-96e6-bff86d045be0">0.18</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i14164a7abc6e476cbd34d3fd69cfb06d_D20220101-20220331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNy01LTEtMS03MjcyNg_687b55a1-59a0-481e-bd17-0180dd96115b">0.18</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i47a5448b7e844e548cecc463cee7f3f5_D20220101-20220331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNy03LTEtMS03MjcyNg_1d8ce01a-16e6-46ee-9bf0-80ec08b1a26c">0.18</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i0a6344e005f14c45adf0ffeb2d18565d_D20220101-20220331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfNy05LTEtMS03MjcyNg_4da7ce58-5519-4151-9ca7-d8a2184d0206">0.18</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="27" style="background-color:#cceeff;padding:2px 1pt;text-align:center;text-indent:27pt;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Three Months Ended March 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class A</span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class M</span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class A-I</span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class M-I</span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class D</span></div></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Basic and diluted net loss per share:</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Allocation of net loss per share before performance fee</span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ida688954e7c647d9a22cb80b8fe1ede2_D20210101-20210331" decimals="-3" name="jllipt:NetIncomebeforeperformancefee" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjEtMS0xLTEtNzI3MjY_5df122d7-be70-4e86-8e4b-916c54e2ce97">15,464</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i62013d14f2084edfb52ad4a4e219de6c_D20210101-20210331" decimals="-3" name="jllipt:NetIncomebeforeperformancefee" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjEtMy0xLTEtNzI3MjY_1dabcba4-e385-41ec-a583-60f8bcef6ecd">6,060</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i5f1761ad78c14ea89c328476f195e749_D20210101-20210331" decimals="-3" name="jllipt:NetIncomebeforeperformancefee" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjEtNS0xLTEtNzI3MjY_68943ff7-572d-49b5-b738-12b32360d248">1,659</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iaaa867f431e447459f22d44d4344c1ca_D20210101-20210331" decimals="-3" name="jllipt:NetIncomebeforeperformancefee" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjEtNy0xLTEtNzI3MjY_c2380098-7277-4b53-9be0-a3a50b91aec1">5,916</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie834fb9048ab4e61bbaf7f15e8ba96b0_D20210101-20210331" decimals="-3" name="jllipt:NetIncomebeforeperformancefee" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjEtOS0xLTEtNzI3MjY_de9d5481-bc80-4841-99fc-73363fe8350d">1,006</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Weighted average number of common shares outstanding</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ida688954e7c647d9a22cb80b8fe1ede2_D20210101-20210331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjQtMS0xLTEtNzI3MjY_14c0832f-f380-41a8-8168-a9c13d0eb16f">89,762,121</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i62013d14f2084edfb52ad4a4e219de6c_D20210101-20210331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjQtMy0xLTEtNzI3MjY_97378219-4731-4c62-89d4-f91016ce1926">35,177,589</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i5f1761ad78c14ea89c328476f195e749_D20210101-20210331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjQtNS0xLTEtNzI3MjY_134494c3-79ad-4978-9f8a-d60d85f7ff47">9,637,799</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="iaaa867f431e447459f22d44d4344c1ca_D20210101-20210331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjQtNy0xLTEtNzI3MjY_738b396b-4072-46be-b106-673d2d4709a5">34,349,467</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ie834fb9048ab4e61bbaf7f15e8ba96b0_D20210101-20210331" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjQtOS0xLTEtNzI3MjY_02de10dc-8153-4c53-b010-fbc63c4c5e2d">5,838,096</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Basic and diluted net loss per share:</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="ida688954e7c647d9a22cb80b8fe1ede2_D20210101-20210331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjUtMS0xLTEtNzI3MjY_9a254a8f-d8ca-4989-977e-342847986cbc">0.17</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i62013d14f2084edfb52ad4a4e219de6c_D20210101-20210331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjUtMy0xLTEtNzI3MjY_079da893-f637-4e85-9066-e3209c99dfa8">0.17</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="i5f1761ad78c14ea89c328476f195e749_D20210101-20210331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjUtNS0xLTEtNzI3MjY_427e3a67-c0e1-4b13-a9df-b610c3abaca7">0.17</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="iaaa867f431e447459f22d44d4344c1ca_D20210101-20210331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjUtNy0xLTEtNzI3MjY_563f3066-c495-490b-97d0-eca0f3ad14e4">0.17</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usdPerShare" contextRef="ie834fb9048ab4e61bbaf7f15e8ba96b0_D20210101-20210331" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RhYmxlOmMwNmU2MGUxYTNkMzQ0ZWVhYTY5M2MzY2YxN2UxY2ZkL3RhYmxlcmFuZ2U6YzA2ZTYwZTFhM2QzNDRlZWFhNjkzYzNjZjE3ZTFjZmRfMjUtOS0xLTEtNzI3MjY_7fcb6736-4fdd-458a-ae58-a57e98623322">0.17</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></ix:nonNumeric></div></ix:continuation><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"><ix:continuation id="if4677d6f2263431dadcfb776fae3a6d3" continuedAt="i8d641b9c46bd41bb9d6aca0ec97046a8">Organization and Offering Costs</ix:continuation></span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i8d641b9c46bd41bb9d6aca0ec97046a8">Organization and offering costs include, but are not limited to, legal, accounting, printing fees and personnel costs of our Advisor attributable to our organization, preparation of the registration statement, registration and qualification of our common stock for sale with the SEC, or in a private placement, and in the various states and filing fees incurred by our Advisor. LaSalle agreed to fund our organization and offering expenses for the Current Public Offering until December&#160;21, 2021, the day the registration statement was declared effective by the SEC, following which time we commenced reimbursing LaSalle over <ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="jllipt:OrganizationAndOfferingExpensesReimbursementPeriod" format="ixt-sec:durmonth" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfNDg2Nw_dbc9a027-367e-4b48-a48c-fca8162725ef">36</ix:nonNumeric> months.  Following the Current Public Offering commencement date, we began paying directly or reimbursing LaSalle if it pays on our behalf any organization and offering costs incurred during the Current Public Offering period (other than selling commissions and dealer manager fees) as and when incurred. After the termination of the Current Public Offering, LaSalle has agreed to reimburse us to the extent that the organization and offering costs that we incur exceed <ix:nonFraction unitRef="number" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="INF" name="jllipt:CalculationOfReimbursedOfferingExpensesAsSpecifiedPercentageOfGrossProceeds" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfNTM0MA_61850619-fbed-49f0-9a31-a620a4d01c80">15</ix:nonFraction>% of our gross proceeds from the Current Public Offering. Organization costs are expensed, whereas offering costs are recorded as a reduction of capital in excess of par value. As of March&#160;31, 2022 and December&#160;31, 2021, LaSalle had paid $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="jllipt:ReimbursementOfOrganizationAndOfferingExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfNTgyMA_6dfae576-d710-4098-9ed9-b47ce0627068">2,244</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i680579fac309468cbadb7c44ae40f7f8_D20210101-20211231" decimals="-3" name="jllipt:ReimbursementOfOrganizationAndOfferingExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80Ni9mcmFnOjJmYzI1OWE1NzhjYjQyYThiMmE1MGIzYWNkZjdhOGY2L3RleHRyZWdpb246MmZjMjU5YTU3OGNiNDJhOGIyYTUwYjNhY2RmN2E4ZjZfNTgyNw_dc977623-b7c5-4785-be25-2184615027ad">2,113</ix:nonFraction>, respectively, of organization and offering costs on our behalf which we had not yet reimbursed. These costs are included in accrued offering costs on the Consolidated Balance Sheets.</ix:continuation>  </span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">17</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_49"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80OS9mcmFnOjBhNjUwMmNhZGRkMjQ3NWI4OWI0ZTg1ZDAwN2JhNTEzL3RleHRyZWdpb246MGE2NTAyY2FkZGQyNDc1Yjg5YjRlODVkMDA3YmE1MTNfMzQxMw_e276209f-9468-427a-92d3-f2d0b28c7133" escape="true"><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 7&#8212;DST PROGRAM</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 16, 2019, we, through our operating partnership, initiated the DST Program, and on August 10, 2021, our board of directors approved an increase to raise up to a total of </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$<ix:nonFraction unitRef="usd" contextRef="i6f0f4889bac24c4da4bc3c732d8e9af9_D20191016-20191016" decimals="-3" name="jllipt:CommonstockvalueauthorizedduringDSToffering" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80OS9mcmFnOjBhNjUwMmNhZGRkMjQ3NWI4OWI0ZTg1ZDAwN2JhNTEzL3RleHRyZWdpb246MGE2NTAyY2FkZGQyNDc1Yjg5YjRlODVkMDA3YmE1MTNfMjA1_befe6830-ee63-423f-81cf-1d2ecbbaf119">1,000,000</ix:nonFraction> in pri</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">vate placements through the sale of beneficial interests in specific Delaware statutory trusts (&#8220;DST&#8221;) holding DST Properties, which may be sourced from our existing portfolio or from newly acquired properties sourced from third parties. Each DST Property will be leased back by a wholly owned subsidiary of our operating partnership on a long-term basis of up to ten years pursuant to a master lease agreement. The master lease agreements are expected to be guaranteed by our operating partnership. As compensation for the master lease guarantee, our operating partnership will retain a fair market value purchase option giving it the right, but not the obligation, to acquire the beneficial interests in the DST from the investors at any time after two years from the closing of the applicable DST offering in exchange for OP Units or cash, at our discretion.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sale of beneficial interests in the DST Property will be accounted for as a failed sale-leaseback transaction due to the fair market value purchase option retained by the operating partnership and as such, the property will remain on our books and records.  The proceeds received from each DST offering will be accounted for as a financing obligation on the Consolidated Balance Sheets. Upfront costs for legal work and debt placement costs for the DST totaling </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$<ix:nonFraction unitRef="usd" contextRef="i7275ab26876e4759b7e362f880aec6c3_I20220331" decimals="-3" name="us-gaap:DeferredCostsCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80OS9mcmFnOjBhNjUwMmNhZGRkMjQ3NWI4OWI0ZTg1ZDAwN2JhNTEzL3RleHRyZWdpb246MGE2NTAyY2FkZGQyNDc1Yjg5YjRlODVkMDA3YmE1MTNfMTU0Mg_b3afbab2-36b3-406f-b055-cc5f01711ce7">2,162</ix:nonFraction></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> are accounted for as deferred loan costs and are netted against the financing obligation. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the master lease, we are responsible for subleasing the DST Property to tenants, for covering all costs associated with operating the underlying DST Property, and for paying base rent to the DST that owns such property. For financial reporting purposes (and not for income tax purposes), the DST Properties are included in our consolidated financial statements, with the master lease rent payments accounted for using the interest method whereby a portion is accounted for as interest expense and a portion is accounted for as a reduction of the outstanding principal balance of the financing obligation.  For the three months ended March&#160;31, 2022 and March&#160;31, 2021, we recorded non-cash interest expense related to the master lease in the amounts of $<ix:nonFraction unitRef="usd" contextRef="if178c76efbab4a00a76600aed67f2f2a_I20220331" decimals="-3" name="us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80OS9mcmFnOjBhNjUwMmNhZGRkMjQ3NWI4OWI0ZTg1ZDAwN2JhNTEzL3RleHRyZWdpb246MGE2NTAyY2FkZGQyNDc1Yjg5YjRlODVkMDA3YmE1MTNfMTA5OTUxMTYzOTE3OQ_2627f006-d9ef-46f1-8507-dca36f82c91a">3,824</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i7bd34ae3cb994b89bf710dd77d0f712d_I20210331" decimals="-3" name="us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80OS9mcmFnOjBhNjUwMmNhZGRkMjQ3NWI4OWI0ZTg1ZDAwN2JhNTEzL3RleHRyZWdpb246MGE2NTAyY2FkZGQyNDc1Yjg5YjRlODVkMDA3YmE1MTNfMTA5OTUxMTYzOTExMA_98ef2d95-dc96-4abf-911b-5b798c534944">1,350</ix:nonFraction>, respectively.  Upon the determination that it is probable that we will exercise the fair market value purchase option, we will recognize additional interest expense or interest income to the financing obligation to account for the difference between the fair value of the property and the outstanding liabilities.  We determined that certain properties were probable for exercising the fair market value purchase option and recorded additional non-cash interest expense of $<ix:nonFraction unitRef="usd" contextRef="ia1426947026f425dab751f0eda5f4eb0_I20220331" decimals="-3" name="us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80OS9mcmFnOjBhNjUwMmNhZGRkMjQ3NWI4OWI0ZTg1ZDAwN2JhNTEzL3RleHRyZWdpb246MGE2NTAyY2FkZGQyNDc1Yjg5YjRlODVkMDA3YmE1MTNfMTA5OTUxMTYzOTE4NA_d5d08240-7665-4a57-9d02-4581a8a38cf3">2,567</ix:nonFraction> during the three months ended March&#160;31, 2022.  We will remeasure the fair value of these properties at each balance sheet date and adjust the non-cash interest expense recognized over the remaining term of the master lease for any changes in fair value.  If we elect to repurchase the property prior to the maturity date of the master lease, we will record the difference between the repurchase amount and the financial obligation as additional non-cash interest expense in the period of repurchase.  For financial reporting purposes, the rental revenues and rental expenses associated with the underlying property of each master lease are included in the respective line items on our Consolidated Statements of Operations and Comprehensive Income. The net amount we receive from the underlying DST Properties may be more or less than the amount we pay to the investors in the specific DST and could fluctuate over time.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2022, we have sold</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> $<ix:nonFraction unitRef="usd" contextRef="i77b2a43f4862462b8e7cbbd2c7ddae5d_I20220331" decimals="-3" name="us-gaap:CommonStockValueOutstanding" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF80OS9mcmFnOjBhNjUwMmNhZGRkMjQ3NWI4OWI0ZTg1ZDAwN2JhNTEzL3RleHRyZWdpb246MGE2NTAyY2FkZGQyNDc1Yjg5YjRlODVkMDA3YmE1MTNfMjk4NQ_370c614e-b4f6-4f1a-92c5-1efcbaa15856">465,408</ix:nonFraction> in interests related to the DST Program. As of March 31, 2022, the following properties are included in our DST Program:</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">The Reserve at Johns Creek,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Summit at San Marcos,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Mason Mill Distribution Center,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">San Juan Medical Center,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">The Penfield,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Milford Crossing,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Villas at Legacy,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Montecito Marketplace,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Whitestown Distribution Center,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Louisville Airport Distribution Center,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">The Preserve at the Meadows,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">The Rockwell,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">9101 Stony Point Drive,</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Reserve at Venice, and</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Friendship Distribution Center.</span></div></ix:nonNumeric><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_52"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 8&#8212;RENTALS UNDER OPERATING LEASES</span></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:OperatingLeasesOfLessorDisclosureTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81Mi9mcmFnOjRhZWEyZjAzMWRkMjQ0Zjk5NjAwOTNjMWYxMjAwMGRjL3RleHRyZWdpb246NGFlYTJmMDMxZGQyNDRmOTk2MDA5M2MxZjEyMDAwZGNfNDY2_5804e889-f7c3-4819-94b6-38aa020f6f45" 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The minimum future rentals from consolidated properties based on operating leases in place at March&#160;31, 2022 are as follows:</span></div><div style="margin-top:10pt;text-align:center;text-indent:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:44.444%"><tr><td style="width:1.0%"></td><td style="width:56.794%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:39.362%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount&#160;</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" 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colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceivedTwoYears" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81Mi9mcmFnOjRhZWEyZjAzMWRkMjQ0Zjk5NjAwOTNjMWYxMjAwMGRjL3RhYmxlOmNmNTA5NDBmNzZmYzQyYzg4NzJlMWYzZjNhMjdhYTVmL3RhYmxlcmFuZ2U6Y2Y1MDk0MGY3NmZjNDJjODg3MmUxZjNmM2EyN2FhNWZfMy0yLTEtMS03MjcyNg_8305559b-44a0-4ee5-a615-f24a91c23fad">141,643</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceivedThreeYears" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81Mi9mcmFnOjRhZWEyZjAzMWRkMjQ0Zjk5NjAwOTNjMWYxMjAwMGRjL3RhYmxlOmNmNTA5NDBmNzZmYzQyYzg4NzJlMWYzZjNhMjdhYTVmL3RhYmxlcmFuZ2U6Y2Y1MDk0MGY3NmZjNDJjODg3MmUxZjNmM2EyN2FhNWZfNC0yLTEtMS03MjcyNg_5a042b9b-90f7-476a-9b90-62e85f987f09">123,891</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceivedFourYears" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81Mi9mcmFnOjRhZWEyZjAzMWRkMjQ0Zjk5NjAwOTNjMWYxMjAwMGRjL3RhYmxlOmNmNTA5NDBmNzZmYzQyYzg4NzJlMWYzZjNhMjdhYTVmL3RhYmxlcmFuZ2U6Y2Y1MDk0MGY3NmZjNDJjODg3MmUxZjNmM2EyN2FhNWZfNS0yLTEtMS03MjcyNg_e61f6e71-24af-4214-988e-865e6b02757f">107,261</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Thereafter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" format="ixt:num-dot-decimal" scale="3" 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style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceived" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81Mi9mcmFnOjRhZWEyZjAzMWRkMjQ0Zjk5NjAwOTNjMWYxMjAwMGRjL3RhYmxlOmNmNTA5NDBmNzZmYzQyYzg4NzJlMWYzZjNhMjdhYTVmL3RhYmxlcmFuZ2U6Y2Y1MDk0MGY3NmZjNDJjODg3MmUxZjNmM2EyN2FhNWZfNy0yLTEtMS03MjcyNg_547ab740-ad3e-4f7a-84fb-dbbb63a74257">1,132,822</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:nonNumeric><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="icb4029a71a7a43bf9a709d85b2c8d376">&#160;Minimum future rentals do not include amounts payable by certain tenants based upon a percentage of their gross sales or as reimbursement of property operating expenses. During the three months ended March 31, 2022, no tenants accounted for greater than 10% of minimum base rents.</ix:continuation> </span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_55"></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 9&#8212;RELATED PARTY TRANSACTIONS</span></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfNDk5Ng_e8899c0b-73d7-4f99-a257-de374019bf45" continuedAt="i699cd06b4da74cdf95f2de0d2958eebb" escape="true"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to our Advisory Agreement with LaSalle, we pay a fixed advisory fee of <ix:nonFraction unitRef="number" contextRef="ic6cbd6130591452a9b97f2f895f75b24_D20220101-20220331" decimals="INF" name="jllipt:ManagementAndAdvisoryFeePercentageOnNetAssetValue" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMTE5_9b4338b2-b85f-405b-9cf9-920ab27775fc">1.25</ix:nonFraction>% of our NAV calculated daily.  The Advisory Agreement allows for a performance fee to be earned for each share class based on the total return of that share class or OP Unit during the calendar year.  The performance fee is calculated as <ix:nonFraction unitRef="number" contextRef="ic51f30522bcd4664a22eb38b3a0140cd_D20220101-20220331" decimals="INF" name="jllipt:ManagementAndAdvisoryFeePercentageOnNetAssetValue" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMzU5_d9858c76-01dc-4ed4-af0f-725785f1dc03">10</ix:nonFraction>% of the return in excess of <ix:nonFraction unitRef="number" contextRef="i8c2f4f73a8244299bb568223a113b0ba_D20220101-20220331" decimals="INF" name="jllipt:ManagementAndAdvisoryFeePercentageOnNetAssetValue" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMzg5_d5adf015-4f6a-4c91-aa66-24fc11371061">7</ix:nonFraction>% per annum.  The term of our Advisory Agreement expires June 5, 2023, subject to an unlimited number of successive one year renewals. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fixed advisory fees for the three months ended March 31, 2022 and 2021 were $<ix:nonFraction unitRef="usd" contextRef="ic6cbd6130591452a9b97f2f895f75b24_D20220101-20220331" decimals="-3" name="jllipt:FixedPortionsOfManagementAndAdvisoryFees" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfNTYy_d7232bfb-6996-47aa-b5ff-8bde8e3658f0">9,374</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:NoninterestExpenseInvestmentAdvisoryFees" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMzg0ODI5MDcwMzQ0Mw_918e0d18-dfe9-40c7-8212-b679382dac9f">6,325</ix:nonFraction>, respectively. Performance fees for the three months ended March 31, 2022 were $<ix:nonFraction unitRef="usd" contextRef="ib0540c6f8b4a48d29ad9201fa52426a5_I20220331" decimals="-3" name="jllipt:ManagerAndAdvisoryFeesPayable" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfNjg1_c7de0ba1-08b9-4f91-be43-0f650c594d16">8,484</ix:nonFraction>. There were <ix:nonFraction unitRef="usd" contextRef="ic921c90bb3ed4df8b294d418381caf02_I20210331" decimals="-3" name="jllipt:ManagerAndAdvisoryFeesPayable" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfNzAw_1a927754-9421-4bb2-ad6c-f2d159b3e849">no</ix:nonFraction> performance fees for the three months ended March 31, 2021. Included in Advisor fees payable at March&#160;31, 2022 was $<ix:nonFraction unitRef="usd" contextRef="i4427d2b3f56845e7a85728183a154e8e_I20220331" decimals="-3" name="jllipt:ManagerAndAdvisoryFeesPayable" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfNzc1_4140c0e8-4faa-452f-accd-bafe36b96317">3,393</ix:nonFraction> of fixed advisory fee expense and $8,484 of performance fee expense. Included in Advisor fees payable for the year ended December&#160;31, 2021 was $<ix:nonFraction unitRef="usd" contextRef="if2de9c9ccb3c425b8ea989e9154739ae_I20211231" decimals="-3" name="jllipt:ManagerAndAdvisoryFeesPayable" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfOTAy_f91a4062-5758-4265-bd5d-b66e969aff4a">2,998</ix:nonFraction> of fixed advisory fee expense and $36,711 of performance fee expenses.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We pay Jones Lang LaSalle Americas, Inc. (&#8220;JLL Americas&#8221;), an affiliate of our Advisor, for property management, construction management, leasing, mortgage brokerage and sales brokerage services performed at various properties we own. For the three months ended March 31, 2022 and 2021, we paid JLL Americas $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="jllipt:RelatedPartyPropertyManagementServicesExpensePaid" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMTIwNA_e4cc03f9-4774-4d68-92b1-7deba3c63c7a">419</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="jllipt:RelatedPartyPropertyManagementServicesExpensePaid" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjc0ODc3OTA3NDc3Ng_ea58e325-aaf4-4cd8-8657-a00aca081700">166</ix:nonFraction>, respectively, for property management and leasing services. During the three months ended March 31, 2022, there were <ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsForBrokerageFees" format="ixt:fixed-zero" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMTA5OTUxMTYzNDYzNg_682e3350-41c1-455f-8a87-7cdf46971474">no</ix:nonFraction> mortgage brokerage fees paid to JLL Americas.  During the three months ended March 31, 2021, we paid JLL Americas $<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsForBrokerageFees" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjc0ODc3OTA3NDgyOQ_47db2505-5f1a-44b9-9327-e3ce379e7de2">162</ix:nonFraction> in mortgage brokerage fees related to the mortgage note payable for Townlake of Coppell. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We pay the Dealer Manager selling commissions and dealer manager fees in connection with our offerings. For the three months ended March 31, 2022 and 2021, we paid the Dealer Manager selling commissions and dealer manager fees totaling $<ix:nonFraction unitRef="usd" contextRef="i4047d12675854610a4aad6799acbf3df_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsOfStockIssuanceCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMTg1Ng_edebb9c2-b2f4-469e-a500-4488ffa853e5">3,762</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="id3a07eb0497d4c818de3a49e61c2d9ba_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsOfStockIssuanceCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjc0ODc3OTA3NTEyMg_f4069afb-dfc6-4b96-b74d-163ec1e64d27">2,614</ix:nonFraction>, respectively. A majority of the selling commissions and dealer manager fees are reallowed to participating broker-dealers.  Included in accrued offering costs, at March&#160;31, 2022 and December&#160;31, 2021, were $<ix:nonFraction unitRef="usd" contextRef="i240f0d28f37f403c83b8b19996272be6_I20220331" decimals="-3" name="jllipt:AccruedOfferingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjE2NA_758057ce-4428-44d9-b0de-4cdaa71eef3d">152,529</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="ide43493ed9b649d9ab07661c56f8008f_I20211231" decimals="-3" name="jllipt:AccruedOfferingCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjE3MQ_aa1f8421-a06f-46cf-b6db-3a56e1639d9e">135,663</ix:nonFraction> of future dealer manager fees payable, respectively. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March&#160;31, 2022 and December&#160;31, 2021, we owed $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="jllipt:ReimbursementOfOrganizationAndOfferingExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjI1Mw_6dfae576-d710-4098-9ed9-b47ce0627068">2,244</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="i680579fac309468cbadb7c44ae40f7f8_D20210101-20211231" decimals="-3" name="jllipt:ReimbursementOfOrganizationAndOfferingExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjI2MA_dc977623-b7c5-4785-be25-2184615027ad">2,113</ix:nonFraction>, respectively, for organization and offering costs paid by LaSalle (see </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i4c9158db7ced44a29893ff7a7a6e11cd_46">Note 6-Common Stock</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). These costs are included in accrued offering costs. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">LaSalle Investment Management Distributors, LLC also serves as the dealer manager for the DST Program on a &#8220;best efforts&#8221; basis. Our taxable REIT subsidiary, which is a wholly owned subsidiary of our operating partnership, will pay the Dealer Manager upfront selling commissions, upfront dealer manager fees and placement fees of up to <ix:nonFraction unitRef="rate" contextRef="iec4f1c6211f14197a368fd2716c78e76_D20220101-20220331" decimals="INF" name="jllipt:DSTProgramSellingCommissions" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjc0Ng_41d7e80e-5e99-4530-81b2-6cd629cd2532">5.0</ix:nonFraction>%, <ix:nonFraction unitRef="rate" contextRef="iec4f1c6211f14197a368fd2716c78e76_D20220101-20220331" decimals="INF" name="jllipt:DSTProgramDealerManagerFee" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjc1MA_70f67bb2-5402-47c6-8cfc-0583c8f4df38">1.0</ix:nonFraction>% and <ix:nonFraction unitRef="rate" contextRef="iec4f1c6211f14197a368fd2716c78e76_D20220101-20220331" decimals="INF" name="jllipt:DSTProgramPlacementFees" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjc1Nw_ccc56582-afdf-4aa2-b92c-d1319fd5fcc6">1.0</ix:nonFraction>%, respectively, of the gross purchase price per unit of beneficial interest sold in the DST Program. All upfront selling commissions and upfront dealer manager fees are reallowed to participating broker-dealers.  For the three months ended March 31, 2022 and 2021, the taxable REIT subsidiary paid $<ix:nonFraction unitRef="usd" contextRef="i703b6e127ad141258c64c824607bb3ca_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsOfStockIssuanceCosts" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMzAxNw_3487b941-acea-47b9-bf32-175a62e52f00">125</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="iaf0626f188474d37af65df61fe96737c_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsOfStockIssuanceCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjc0ODc3OTA3NTI1NA_1b1583e6-508b-42f0-9c6d-871531ee22d7">1,027</ix:nonFraction>, respectively, to the Dealer Manager. In addition, the Dealer Manager may receive an ongoing investor servicing fee that is calculated daily on a continuous basis from year to year equal to 1/365th&#160;of (a) 0.25% of the total equity of each outstanding unit of beneficial interest for such day, payable by the DSTs; (b) 0.85% of the NAV of each outstanding Class A OP Unit, 0.30% of the NAV of each outstanding Class M OP Unit or 0.30% of the NAV of each outstanding Class A-I OP Unit for such day issued in connection with our operating partnership's fair market value purchase option, payable by our operating partnership; and (c) 0.85% of the NAV of each outstanding Class A share, 0.30% of the NAV of each outstanding Class M share or 0.30% of the NAV of each outstanding Class A-I share for such </span></div></ix:nonNumeric><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">19</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><ix:continuation id="i699cd06b4da74cdf95f2de0d2958eebb"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">day issued in connection with the investors' redemption right, payable by us. The investor servicing fee may continue for so long as the investor in the DST Program holds beneficial interests, Class A, Class M and Class A-I OP Units or Class A, Class M and Class A-I shares that were issued in connection with the DST Program. No investor servicing fee will be paid on Class M-I OP Units or Class M-I shares.  For the three months ended March 31, 2022 and 2021, the DSTs paid $<ix:nonFraction unitRef="usd" contextRef="i703b6e127ad141258c64c824607bb3ca_D20220101-20220331" decimals="-3" name="jllipt:DSTInvestorServicingFees" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfNDM0Ng_a94fceea-395d-4c05-a425-eba09a44a427">287</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="iaf0626f188474d37af65df61fe96737c_D20210101-20210331" decimals="-3" name="jllipt:DSTInvestorServicingFees" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjc0ODc3OTA3NTQ5OA_cf89586e-7ee0-47f0-aff7-bc7964fc78f4">126</ix:nonFraction>, respectively, in investor servicing fees to the Dealer Manager in connection with the DST Program.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">LaSalle also serves as the manager for the DST Program. Each DST pays the manager a management fee equal to a to-be-agreed upon percentage of the total equity of such DST. For the three months ended March 31, 2022 and 2021, the DSTs paid $<ix:nonFraction unitRef="usd" contextRef="i703b6e127ad141258c64c824607bb3ca_D20220101-20220331" decimals="-3" name="jllipt:DSTAdvisorFees" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfNDc3OA_bd901161-217e-4bf4-8826-cfbe747a8386">184</ix:nonFraction> and $<ix:nonFraction unitRef="usd" contextRef="iaf0626f188474d37af65df61fe96737c_D20210101-20210331" decimals="-3" name="jllipt:DSTAdvisorFees" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81NS9mcmFnOjhlNDRkMTYwMWI0NzQxNjA5MTA2MGM5MWYzMjMyN2Y0L3RleHRyZWdpb246OGU0NGQxNjAxYjQ3NDE2MDkxMDYwYzkxZjMyMzI3ZjRfMjc0ODc3OTA3NTUzNA_4525a3b8-6582-4703-b1e6-85ab68709b00">76</ix:nonFraction>, respectively, in management fees to our Advisor in connection with the DST Program.</span></div></ix:continuation><div id="i4c9158db7ced44a29893ff7a7a6e11cd_58"></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 10&#8212;<ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81OC9mcmFnOjA3ODlhY2IwMzkxODRiYmNhNzhkZThmZjIxN2M1MDdlL3RleHRyZWdpb246MDc4OWFjYjAzOTE4NGJiY2E3OGRlOGZmMjE3YzUwN2VfMTczMQ_2e6b2a77-2c13-45eb-8bf8-d7d47ee0ee34" continuedAt="i9d8fd29c2f7142e3b20e6aa8b3230ea8" escape="true">COMMITMENTS AND CONTINGENCIES</ix:nonNumeric></span></div><ix:continuation id="i9d8fd29c2f7142e3b20e6aa8b3230ea8" continuedAt="if2a6e973dea94210a1da66c532607ba4"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are involved in various claims and litigation matters arising in the ordinary course of business, some of which involve claims for damages. Many of these matters are covered by insurance, although they may nevertheless be subject to deductibles or retentions. Although the ultimate liability for these matters cannot be determined, based upon information currently available, we believe the ultimate resolution of such claims and litigation will not have a material adverse effect on our financial position, results of operations or liquidity.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From time to time, we have entered into contingent agreements for the acquisition and financing of properties.  Such acquisitions and financings are subject to satisfactory completion of due diligence or meeting certain leasing or occupancy thresholds.  </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are subject to fixed ground lease payments on South Beach Parking Garage of $<ix:nonFraction unitRef="usd" contextRef="i23b0d7f6571a40f28c068e38c31f2bef_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsForRent" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF81OC9mcmFnOjA3ODlhY2IwMzkxODRiYmNhNzhkZThmZjIxN2M1MDdlL3RleHRyZWdpb246MDc4OWFjYjAzOTE4NGJiY2E3OGRlOGZmMjE3YzUwN2VfOTI0_298c4bb0-ee4a-452b-b1c4-42c03ccf6003">112</ix:nonFraction> per year until September 30, 2024, which will increase every five years thereafter by the lesser of 12% or the cumulative CPI over the previous five year period.  We are also subject to a variable ground lease payment calculated as 2.5% of revenue.  The lease expires September 30, 2041 and has a ten-year renewal option.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operating agreement for Grand Lakes Marketplace allows the unrelated third party joint venture partner, owning a 10% interest, to put its interest to us at a market determined value. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operating agreement for 237 Via Vera Cruz, 13500 Danielson Street, 4211 Starboard, 2840 Loaker Avenue and 15890 Bernardo Center Drive allows the unrelated third party joint venture partner, owning a 5% interest, to put its interest to us at a market determined value starting July 31, 2024.</span></div></ix:continuation><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="if2a6e973dea94210a1da66c532607ba4">The operating agreement for Presley Uptown allows the unrelated third party joint venture partner, owning a 2.5% interest, to put its interest to us at a market determined value starting September 30, 2022 until September 30, 2024.</ix:continuation> </span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_61"></div><ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RleHRyZWdpb246MThhNGZmZDBiZjE4NGI0N2I0MDBkY2I1NDI1MGJmZmJfMzc4_92756ac6-26c2-42a5-af68-8ab7beb0930f" continuedAt="i4107293e617342fdb6b75c5fff863268" escape="true"><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 11&#8212;<ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:SegmentReportingDisclosureTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RleHRyZWdpb246MThhNGZmZDBiZjE4NGI0N2I0MDBkY2I1NDI1MGJmZmJfMzgz_6024496c-b6dd-4dec-9569-bf9de49bb020" continuedAt="id9dedcb441c5461ab914ad87067ae807" escape="true">SEGMENT REPORTING </ix:nonNumeric></span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="id9dedcb441c5461ab914ad87067ae807" continuedAt="i0aecb532e8ed48d3a0d405bd1973f6a2">We have five reportable operating segments: industrial, office, residential, retail and other properties. Consistent with how our chief operating decision makers evaluate performance and manage our properties, the financial information summarized below is presented by operating segment and reconciled to net income for the three months ended March 31, 2022 and 2021.</ix:continuation></span></div></ix:nonNumeric><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt"><ix:continuation id="i4107293e617342fdb6b75c5fff863268" continuedAt="i1942e3783bfb48e1a78e966def552f8d"><ix:continuation id="i0aecb532e8ed48d3a0d405bd1973f6a2" 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMi05LTEtMS03MjcyNg_9302dcae-e1ce-4604-94ed-4f4304d577d2">23,412</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i44e257c016dd447896e0278a4ec08748_I20211231" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" 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style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6e144b41489f4da581fc7a8e5a112d7c_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsForCapitalImprovements" scale="3" 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Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba4f1ab358964d628898842beb11108f_D20220101-20220331" decimals="-3" name="us-gaap:PaymentsForCapitalImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfNi0xMS0xLTEtNzI3MjY_0ba0d2a0-81d3-434a-8229-b9e0adb10e06">2,442</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New 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style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rental revenue</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie6c6613d8b7848baa2eee38905edf2a6_D20220101-20220331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfOS0xLTEtMS03MjcyNg_c6e1a749-3f23-4b15-8a89-9d274bd1b7e3">24,886</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i295c7b45a26a413bb4a7e9dd5438e2f8_D20220101-20220331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfOS0zLTEtMS03MjcyNg_cb22355b-3849-491e-92fd-e2e28d4e0ec0">11,332</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ia04b1d9526d64651966c9d263fd678cd_D20220101-20220331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfOS01LTEtMS03MjcyNg_66598f8e-0e34-4e36-8435-44dbbc1b2dd6">25,061</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6e144b41489f4da581fc7a8e5a112d7c_D20220101-20220331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfOS03LTEtMS03MjcyNg_fe06aaf8-5759-449d-857d-8ed8ebc837db">13,615</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe74e3295a7042dcbb7e5c5c23931097_D20220101-20220331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfOS05LTEtMS03MjcyNg_c50cee23-77fc-4e8e-bceb-72f13cb45854">61</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba4f1ab358964d628898842beb11108f_D20220101-20220331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfOS0xMS0xLTEtNzI3MjY_3cae6b33-7284-45ca-bfbd-a29c68e09d67">74,955</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other revenue</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie6c6613d8b7848baa2eee38905edf2a6_D20220101-20220331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTAtMS0xLTEtNzI3MjY_47c5eb21-4024-43cd-8785-cf01d20889d8">35</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i295c7b45a26a413bb4a7e9dd5438e2f8_D20220101-20220331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTAtMy0xLTEtNzI3MjY_3c5b8f02-8785-4cb0-9c88-027869e3ff63">286</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ia04b1d9526d64651966c9d263fd678cd_D20220101-20220331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTAtNS0xLTEtNzI3MjY_7f170e68-3749-4fb8-9b6c-c16b60cb8c75">1,222</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6e144b41489f4da581fc7a8e5a112d7c_D20220101-20220331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTAtNy0xLTEtNzI3MjY_c60c67f5-89a1-47a1-9d61-b61ee5d841a2">72</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe74e3295a7042dcbb7e5c5c23931097_D20220101-20220331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTAtOS0xLTEtNzI3MjY_90df18eb-0627-4c19-aedb-223f256bb863">601</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba4f1ab358964d628898842beb11108f_D20220101-20220331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTAtMTEtMS0xLTcyNzI2_08238366-d6e6-4d7c-bd80-00c67d12f4fa">2,216</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total revenues</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie6c6613d8b7848baa2eee38905edf2a6_D20220101-20220331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTEtMS0xLTEtNzI3MjY_d9a12790-b1d0-43a8-bfe4-9a9f8f46aad8">24,921</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i295c7b45a26a413bb4a7e9dd5438e2f8_D20220101-20220331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTEtMy0xLTEtNzI3MjY_6a290216-0bd5-4ac3-b3f6-2c50153b6d09">11,618</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ia04b1d9526d64651966c9d263fd678cd_D20220101-20220331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTEtNS0xLTEtNzI3MjY_3ec2de76-dcce-4f65-b80e-5335f35e8828">26,283</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6e144b41489f4da581fc7a8e5a112d7c_D20220101-20220331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTEtNy0xLTEtNzI3MjY_3d74e96d-2816-40ed-a431-808cafd98b9d">13,687</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe74e3295a7042dcbb7e5c5c23931097_D20220101-20220331" decimals="-3" name="us-gaap:Revenues" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTEtOS0xLTEtNzI3MjY_5c9310c9-6742-4806-9b32-769c3d27bcef">662</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba4f1ab358964d628898842beb11108f_D20220101-20220331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTEtMTEtMS0xLTcyNzI2_42e6254a-c4c1-4b9d-afb6-6c2579c9471b">77,171</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating expenses:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Real estate taxes</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie6c6613d8b7848baa2eee38905edf2a6_D20220101-20220331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTMtMS0xLTEtNzI3MjY_820e74bd-10b1-4520-b35a-0375fcbdfc7e">4,107</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i295c7b45a26a413bb4a7e9dd5438e2f8_D20220101-20220331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTMtMy0xLTEtNzI3MjY_d291c8de-55bb-4955-b215-99819d399575">1,164</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ia04b1d9526d64651966c9d263fd678cd_D20220101-20220331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTMtNS0xLTEtNzI3MjY_37086a26-27ce-4edf-ab0c-a89b14240d5f">4,256</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6e144b41489f4da581fc7a8e5a112d7c_D20220101-20220331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTMtNy0xLTEtNzI3MjY_82f98931-a84e-4922-800c-bf493e6f7c91">1,671</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe74e3295a7042dcbb7e5c5c23931097_D20220101-20220331" decimals="-3" name="us-gaap:RealEstateTaxExpense" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTMtOS0xLTEtNzI3MjY_07271880-8baa-418a-9474-0ce1ee0dce92">113</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba4f1ab358964d628898842beb11108f_D20220101-20220331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTMtMTEtMS0xLTcyNzI2_4d8e334b-daac-4324-8d4c-f1ad1965a748">11,311</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Property operating expenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie6c6613d8b7848baa2eee38905edf2a6_D20220101-20220331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTQtMS0xLTEtNzI3MjY_d9f5904c-308d-4fcd-adfd-1960f19f5bac">2,284</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i295c7b45a26a413bb4a7e9dd5438e2f8_D20220101-20220331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTQtMy0xLTEtNzI3MjY_f1c91c6f-802b-4b16-ad59-3508bab1d557">2,173</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ia04b1d9526d64651966c9d263fd678cd_D20220101-20220331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTQtNS0xLTEtNzI3MjY_fd736f9a-df06-4d5c-b43c-5447410cb6d4">7,212</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6e144b41489f4da581fc7a8e5a112d7c_D20220101-20220331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTQtNy0xLTEtNzI3MjY_236c9424-4efa-42ab-af08-32e4c9e9b98d">2,124</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe74e3295a7042dcbb7e5c5c23931097_D20220101-20220331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTQtOS0xLTEtNzI3MjY_b0cc9af2-10e0-4944-b6db-322529c9cf5e">208</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba4f1ab358964d628898842beb11108f_D20220101-20220331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTQtMTEtMS0xLTcyNzI2_829278d9-2bc0-4a14-8c9e-d5ccf61d5bdb">14,001</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total segment operating expenses</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie6c6613d8b7848baa2eee38905edf2a6_D20220101-20220331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTYtMS0xLTEtNzI3MjY_b730ab38-8e05-4e53-9fc1-300186e041f7">6,391</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i295c7b45a26a413bb4a7e9dd5438e2f8_D20220101-20220331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTYtMy0xLTEtNzI3MjY_9dbeaf52-9526-46cc-bcad-67c0427c0651">3,337</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ia04b1d9526d64651966c9d263fd678cd_D20220101-20220331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTYtNS0xLTEtNzI3MjY_009d4c7b-279b-4dba-8643-6d8590bdce46">11,468</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6e144b41489f4da581fc7a8e5a112d7c_D20220101-20220331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTYtNy0xLTEtNzI3MjY_33fe66a8-0857-44b6-8459-7f70e7f17c23">3,795</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ibe74e3295a7042dcbb7e5c5c23931097_D20220101-20220331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTYtOS0xLTEtNzI3MjY_baa6242f-fea3-4a86-b37f-43c20ad25eda">321</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iba4f1ab358964d628898842beb11108f_D20220101-20220331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfMTYtMTEtMS0xLTcyNzI2_30dc9f8b-d333-402a-856f-98f1ecbb9e90">25,312</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Reconciliation to net income</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Property general and administrative</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" 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style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" 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style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i984b453d0c164a88bf400044684f5c7f_I20220331" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i9b9230124d4948369639333965e2e458_I20220331" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfNDEtMTEtMS0xLTcyNzI2_bbe428be-a3df-4afd-8421-73efbfc76b2a">760,830</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New 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Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjY5YWI1OGIxOTIyMzQ3OGViZTlkMTRhNDU0ZTcyYThjL3RhYmxlcmFuZ2U6NjlhYjU4YjE5MjIzNDc4ZWJlOWQxNGE0NTRlNzJhOGNfNDItMTEtMS0xLTcyNzI2_7a4532b7-d01e-42fb-a309-242d5cb96598">4,576,227</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 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style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:39.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.261%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.964%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td 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Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i8747fc4902754a1d8002d75899fdc716_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsForCapitalImprovements" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMy0zLTEtMS03MjcyNg_7dffb69d-efc8-4e24-ac5c-45b433aefcbc">710</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0c303b69b59f4f5793b39c51dbc9bf6b_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsForCapitalImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMy01LTEtMS03MjcyNg_5fa3338a-c13e-4099-b129-282bfecd972f">2,975</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" 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Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6639408069454b6abff7d7dab6b19edc_D20210101-20210331" decimals="-3" name="us-gaap:PaymentsForCapitalImprovements" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMy0xMS0xLTEtNzI3MjY_336dbddf-645a-4f29-a035-55c96c64a2c0">4,646</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rental revenue</span></div></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i62a51a15b7ed4432b5ee7c2f265897f9_D20210101-20210331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNi0xLTEtMS03MjcyNg_ce757ef8-133f-4621-bca9-28a0e7a85519">15,226</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i8747fc4902754a1d8002d75899fdc716_D20210101-20210331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNi0zLTEtMS03MjcyNg_2c62be63-4aaa-461a-a36a-e3791bd2b73c">7,572</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0c303b69b59f4f5793b39c51dbc9bf6b_D20210101-20210331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNi01LTEtMS03MjcyNg_39f57f84-0e3d-471d-9f68-811653f34db7">15,848</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i64591f435b3e4e8e8b75e088996bf05a_D20210101-20210331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNi03LTEtMS03MjcyNg_e9aa2296-0c8e-4d89-b541-43dac1b53c0b">12,053</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i56e27ad467c6405493876c6dc2383d0c_D20210101-20210331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNi05LTEtMS03MjcyNg_24488caa-09e2-4358-9691-a842d4ce895e">32</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6639408069454b6abff7d7dab6b19edc_D20210101-20210331" decimals="-3" name="us-gaap:OperatingLeaseLeaseIncome" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNi0xMS0xLTEtNzI3MjY_90f6d00c-b1e0-48b4-b5c9-7460c4c6a69b">50,731</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other revenue</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i62a51a15b7ed4432b5ee7c2f265897f9_D20210101-20210331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNy0xLTEtMS03MjcyNg_8a883b8f-b10b-46cb-9ff6-9a02782e083f">5</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i8747fc4902754a1d8002d75899fdc716_D20210101-20210331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNy0zLTEtMS03MjcyNg_8c044dba-9b25-4831-958e-6b3d3543b97a">372</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0c303b69b59f4f5793b39c51dbc9bf6b_D20210101-20210331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNy01LTEtMS03MjcyNg_c0fe804d-b7eb-404d-b223-58fd66280e6f">759</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i64591f435b3e4e8e8b75e088996bf05a_D20210101-20210331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNy03LTEtMS03MjcyNg_b223fca0-0a73-4c52-8f15-fb9917c8dd8e">83</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i56e27ad467c6405493876c6dc2383d0c_D20210101-20210331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNy05LTEtMS03MjcyNg_0dd7f225-c03c-4c0c-a521-bd0f96d02f31">631</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6639408069454b6abff7d7dab6b19edc_D20210101-20210331" decimals="-3" name="us-gaap:OtherRevenueExpenseFromRealEstateOperations" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfNy0xMS0xLTEtNzI3MjY_89da99bc-3e03-4298-9242-5efd1c7da0a7">1,850</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total revenues</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i62a51a15b7ed4432b5ee7c2f265897f9_D20210101-20210331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfOC0xLTEtMS03MjcyNg_a9adcbbe-535e-4c29-9b96-18f25ac3b4b5">15,231</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i8747fc4902754a1d8002d75899fdc716_D20210101-20210331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfOC0zLTEtMS03MjcyNg_5bb335b6-c656-46c5-9a04-b4a7fccd3458">7,944</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0c303b69b59f4f5793b39c51dbc9bf6b_D20210101-20210331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfOC01LTEtMS03MjcyNg_d63bf378-6e6d-44d1-a699-584d8e0b2488">16,607</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i64591f435b3e4e8e8b75e088996bf05a_D20210101-20210331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfOC03LTEtMS03MjcyNg_1361a7f6-b323-4aec-a0eb-cffe44bd0d9f">12,136</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i56e27ad467c6405493876c6dc2383d0c_D20210101-20210331" decimals="-3" name="us-gaap:Revenues" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfOC05LTEtMS03MjcyNg_1556c586-078d-4aa5-a353-70c9c7ad9189">663</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:Revenues" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfOC0xMS0xLTEtNzI3MjY_fc7e3cd4-53cf-421c-84a5-0e682b3af601">52,581</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating expenses:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Real estate taxes</span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i62a51a15b7ed4432b5ee7c2f265897f9_D20210101-20210331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTAtMS0xLTEtNzI3MjY_dd382302-488a-4958-aed3-c401580fa30d">2,459</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i8747fc4902754a1d8002d75899fdc716_D20210101-20210331" decimals="-3" name="us-gaap:RealEstateTaxExpense" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTAtMy0xLTEtNzI3MjY_1b06df8b-4ce3-4199-904e-c9dc0607b5e3">767</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0c303b69b59f4f5793b39c51dbc9bf6b_D20210101-20210331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTAtNS0xLTEtNzI3MjY_71e1954f-acc6-4c08-b7b3-54a440924e83">3,112</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i64591f435b3e4e8e8b75e088996bf05a_D20210101-20210331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTAtNy0xLTEtNzI3MjY_4479950c-cf6b-441c-afcf-4447eb3a5bb7">1,633</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i56e27ad467c6405493876c6dc2383d0c_D20210101-20210331" decimals="-3" name="us-gaap:RealEstateTaxExpense" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTAtOS0xLTEtNzI3MjY_0e153aec-2168-4b51-bcfc-a5450da5da2d">115</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6639408069454b6abff7d7dab6b19edc_D20210101-20210331" decimals="-3" name="us-gaap:RealEstateTaxExpense" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTAtMTEtMS0xLTcyNzI2_77c16a17-3e80-4179-96b3-e47075a92ac2">8,086</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Property operating expenses</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i62a51a15b7ed4432b5ee7c2f265897f9_D20210101-20210331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTEtMS0xLTEtNzI3MjY_3c633ae0-a368-4bdc-86b0-0cf7239c7d74">1,354</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i8747fc4902754a1d8002d75899fdc716_D20210101-20210331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTEtMy0xLTEtNzI3MjY_0c8b4ccb-9b49-4300-927b-c7936cc36fdd">1,487</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0c303b69b59f4f5793b39c51dbc9bf6b_D20210101-20210331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTEtNS0xLTEtNzI3MjY_785d904e-3853-4ec3-b73c-eb01aaa65ee8">4,830</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i64591f435b3e4e8e8b75e088996bf05a_D20210101-20210331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTEtNy0xLTEtNzI3MjY_48d2b85c-7b41-45bf-95a7-3ade2c1ebdc5">2,046</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i56e27ad467c6405493876c6dc2383d0c_D20210101-20210331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTEtOS0xLTEtNzI3MjY_2f1999c3-f45a-41d1-9a9a-814a74611ab4">194</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6639408069454b6abff7d7dab6b19edc_D20210101-20210331" decimals="-3" name="us-gaap:DirectCostsOfLeasedAndRentedPropertyOrEquipment" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTEtMTEtMS0xLTcyNzI2_12f069a9-1107-4465-a798-0000cdc99cc8">9,911</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total segment operating expenses</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i62a51a15b7ed4432b5ee7c2f265897f9_D20210101-20210331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTMtMS0xLTEtNzI3MjY_62f804e6-e539-4a54-9a6e-bce6e4782af8">3,813</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i8747fc4902754a1d8002d75899fdc716_D20210101-20210331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTMtMy0xLTEtNzI3MjY_0e7d13cc-aef7-4955-9cb5-0697ebcd2057">2,254</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i0c303b69b59f4f5793b39c51dbc9bf6b_D20210101-20210331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTMtNS0xLTEtNzI3MjY_f457be88-707e-4053-a5ec-ff0a0660f745">7,942</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i64591f435b3e4e8e8b75e088996bf05a_D20210101-20210331" decimals="-3" name="us-gaap:OperatingCostsAndExpenses" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMTMtNy0xLTEtNzI3MjY_12b31c1c-5849-491e-b77d-b34af582e1b5">3,679</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td 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colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" 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style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Depreciation and amortization</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" name="us-gaap:DepreciationAndAmortization" format="ixt:num-dot-decimal" scale="3" 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style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="12" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Loss from unconsolidated real estate affiliates and fund investment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="ie818f708a97d402aa001551217f445f0_D20210101-20210331" decimals="-3" sign="-" name="us-gaap:IncomeLossFromEquityMethodInvestments" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMjctMTEtMS0xLTcyNzI2_292ea2ba-d13e-4571-8d53-18496d1634fd">339</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="21" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;Gain on disposition of property and extinguishment of debt, net</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net Income</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF82MS9mcmFnOjE4YTRmZmQwYmYxODRiNDdiNDAwZGNiNTQyNTBiZmZiL3RhYmxlOjQzMDUzNzgwMGU1MTRhNzhhMzIxZTJmNWEyOWFlMzZiL3RhYmxlcmFuZ2U6NDMwNTM3ODAwZTUxNGE3OGEzMjFlMmY1YTI5YWUzNmJfMzEtMTEtMS0xLTcyNzI2_4995f1c1-abed-429d-8982-421e08d2f99a">30,282</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></ix:continuation></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_73"></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 12&#8212;<ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" 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id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RleHRyZWdpb246ZGNiYTRhYTA0NjdhNDFiNjk4YTY5NzI1YWJhZWE2M2JfNDYx_2be5186e-3822-4cab-b97c-e38ca80bcf12" escape="true"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a summary of our investment in marketable securities held as of March&#160;31, 2022 and December&#160;31, 2021, which consisted entirely of stock of publicly traded REITs.</span></div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.128%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.420%"></td><td style="width:0.1%"></td><td 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style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment in marketable securities - cost</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:EquitySecuritiesFvNiCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RhYmxlOjU0YjMxNGZkMGZjMDQ5OGE5OTIwYWY1YzEwYjI0YWJmL3RhYmxlcmFuZ2U6NTRiMzE0ZmQwZmMwNDk4YTk5MjBhZjVjMTBiMjRhYmZfMS0xLTEtMS03MjcyNg_8a2924d4-2065-4b73-9699-e76eb96157f2">40,650</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:EquitySecuritiesFvNiCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RhYmxlOjU0YjMxNGZkMGZjMDQ5OGE5OTIwYWY1YzEwYjI0YWJmL3RhYmxlcmFuZ2U6NTRiMzE0ZmQwZmMwNDk4YTk5MjBhZjVjMTBiMjRhYmZfMS0yLTEtMS04MzQwNQ_91193ab5-f8cc-40df-b5fa-0d12c66c6a81">40,273</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unrealized gains</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="jllipt:EquitySecuritiesFVNIAccumulatedUnrealizedGain" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RhYmxlOjU0YjMxNGZkMGZjMDQ5OGE5OTIwYWY1YzEwYjI0YWJmL3RhYmxlcmFuZ2U6NTRiMzE0ZmQwZmMwNDk4YTk5MjBhZjVjMTBiMjRhYmZfMi0yLTEtMS04MzQwNQ_06b396c1-2746-4307-9708-fab2c4e55ff9">3,161</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unrealized losses</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" sign="-" name="jllipt:EquitySecuritiesFVNIAccumulatedUnrealizedLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RhYmxlOjU0YjMxNGZkMGZjMDQ5OGE5OTIwYWY1YzEwYjI0YWJmL3RhYmxlcmFuZ2U6NTRiMzE0ZmQwZmMwNDk4YTk5MjBhZjVjMTBiMjRhYmZfMy0xLTEtMS03MjcyNg_aefee91f-fbf7-4f41-9c4f-8944d53e9191">1,363</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" sign="-" name="jllipt:EquitySecuritiesFVNIAccumulatedUnrealizedLoss" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RhYmxlOjU0YjMxNGZkMGZjMDQ5OGE5OTIwYWY1YzEwYjI0YWJmL3RhYmxlcmFuZ2U6NTRiMzE0ZmQwZmMwNDk4YTk5MjBhZjVjMTBiMjRhYmZfMy0yLTEtMS04MzQwNQ_aca2b805-178a-4962-96f8-12b50b087529">228</ix:nonFraction>)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net unrealized (loss) gain</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" sign="-" name="jllipt:EquitySecuritiesFVNIAccumulatedNetUnrealizedGainLoss" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RhYmxlOjU0YjMxNGZkMGZjMDQ5OGE5OTIwYWY1YzEwYjI0YWJmL3RhYmxlcmFuZ2U6NTRiMzE0ZmQwZmMwNDk4YTk5MjBhZjVjMTBiMjRhYmZfNC0xLTEtMS03MjcyNg_0405d2be-7146-41e8-b501-596bb957f746">51</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="jllipt:EquitySecuritiesFVNIAccumulatedNetUnrealizedGainLoss" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RhYmxlOjU0YjMxNGZkMGZjMDQ5OGE5OTIwYWY1YzEwYjI0YWJmL3RhYmxlcmFuZ2U6NTRiMzE0ZmQwZmMwNDk4YTk5MjBhZjVjMTBiMjRhYmZfNC0zLTEtMS04NjI2MA_684c3b66-d068-4d67-acfc-e19a2b99b363">2,933</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment in marketable securities - fair value</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i24f3d5455eb74b96933fc88d10a3ef15_I20220331" decimals="-3" name="us-gaap:EquitySecuritiesFvNi" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RhYmxlOjU0YjMxNGZkMGZjMDQ5OGE5OTIwYWY1YzEwYjI0YWJmL3RhYmxlcmFuZ2U6NTRiMzE0ZmQwZmMwNDk4YTk5MjBhZjVjMTBiMjRhYmZfNS0xLTEtMS03MjcyNg_d710d5da-0e63-44c7-9ef2-ce6ffdb0a832">40,599</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2c40c8779328448680cbeb054aecf39f_I20211231" decimals="-3" name="us-gaap:EquitySecuritiesFvNi" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RhYmxlOjU0YjMxNGZkMGZjMDQ5OGE5OTIwYWY1YzEwYjI0YWJmL3RhYmxlcmFuZ2U6NTRiMzE0ZmQwZmMwNDk4YTk5MjBhZjVjMTBiMjRhYmZfNS0zLTEtMS04NjI2MA_05ebf5c8-ffbe-48be-8b8c-ec8a1e5bc2cc">43,206</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i3bb20adacb31475f8333d44559150f32">Upon the sale of a particular security, the realized net gain or loss is computed assuming the shares purchased first are sold first. During the three months ended March 31, 2022, marketable securities sold generated proceeds of $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:ProceedsFromSaleAndMaturityOfMarketableSecurities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RleHRyZWdpb246ZGNiYTRhYTA0NjdhNDFiNjk4YTY5NzI1YWJhZWE2M2JfNjU5NzA2OTc2NzYxNQ_45abfa67-3105-4e41-bb84-dd4653db3283">4,348</ix:nonFraction>, resulting in realized gains of $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:EquitySecuritiesFvNiRealizedGain" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RleHRyZWdpb246ZGNiYTRhYTA0NjdhNDFiNjk4YTY5NzI1YWJhZWE2M2JfNDMy_3bcb655d-cb91-44c6-b500-16edf7e54b11">157</ix:nonFraction>, and realized losses of $<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:EquitySecuritiesFvNiRealizedLoss" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83My9mcmFnOmRjYmE0YWEwNDY3YTQxYjY5OGE2OTcyNWFiYWVhNjNiL3RleHRyZWdpb246ZGNiYTRhYTA0NjdhNDFiNjk4YTY5NzI1YWJhZWE2M2JfNDQw_29ddc35a-563c-439e-9584-f6fdca0f92dd">78</ix:nonFraction>.</ix:continuation> </span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_76"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTE 13&#8212;<ix:nonNumeric contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" name="us-gaap:SubsequentEventsTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTE4Ng_5a318c1b-5583-40ad-8b8e-1977b7c1f476" continuedAt="ibd936a8403344813a8467d6faa03d1e3" escape="true">SUBSEQUENT EVENTS</ix:nonNumeric></span></div><ix:continuation id="ibd936a8403344813a8467d6faa03d1e3"><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 8, 2022, we acquired Northeast Atlanta Distribution Center, a <ix:nonFraction unitRef="sqft" contextRef="icb85472fac6140268d93ab885ace79f8_I20220408" decimals="0" name="us-gaap:AreaOfRealEstateProperty" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0Mjc4OQ_a2f1e693-e61d-409f-8587-2af96809cacf">459,000</ix:nonFraction> square foot industrial property located in Jefferson, GA for approximately $<ix:nonFraction unitRef="usd" contextRef="icb85472fac6140268d93ab885ace79f8_I20220408" decimals="-3" name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0Mjc5OQ_fc302fb6-7dee-4ba2-bc28-f61e30b73e43">54,100</ix:nonFraction>.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 28, 2022, we entered into a credit agreement providing for a $<ix:nonFraction unitRef="usd" contextRef="i3f6942d1532d4e7ca8a95ccc13888f2b_I20220428" decimals="-3" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0Mjg1Mg_922a4553-2107-4c10-bc4c-22fcbb6670d4">1,000,000</ix:nonFraction> revolving line of credit and unsecured term loan (collectively, the &#8220;Credit Facility&#8221;) with a syndicate of nine lenders led by JPMorgan Chase Bank, N.A., Bank of America, N.A., PNC Capital Markets LLC, Wells Fargo Securities, LLC and Capital One, National Association. The Credit Facility provides us with the ability, from time to time, to increase the size of the Credit Facility up to a total of $1,300,000, subject to receipt of lender commitments and other conditions. The $<ix:nonFraction unitRef="usd" contextRef="i3f6942d1532d4e7ca8a95ccc13888f2b_I20220428" decimals="-3" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0Mjg2NQ_922a4553-2107-4c10-bc4c-22fcbb6670d4">1,000,000</ix:nonFraction> Credit Facility consists of a $<ix:nonFraction unitRef="usd" contextRef="i3f6942d1532d4e7ca8a95ccc13888f2b_I20220428" decimals="-3" name="jllipt:RevolvingLineofCreditMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0Mjg3Ng_372c171c-3f15-49c6-a8e6-3081ec99f0a9">600,000</ix:nonFraction> revolving credit facility (the &#8220;Revolving Credit Facility&#8221;) and a $<ix:nonFraction unitRef="usd" contextRef="i3f6942d1532d4e7ca8a95ccc13888f2b_I20220428" decimals="-3" name="jllipt:TermLoanMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0Mjg4Nw_86ea89b0-1e99-4911-a61b-59f5d5f59a94">400,000</ix:nonFraction> term loan (the &#8220;Term Loan&#8221;). The primary interest rate for the Revolving Credit Facility is based on one-month SOFR plus 0.10% (&#8220;Adjusted Term SOFR&#8221;), plus a margin ranging from <ix:nonFraction unitRef="number" contextRef="ib196ea39fdaf442482b977afd31417ec_D20220401-20220630" decimals="INF" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0MjkxMA_1973596d-bb61-44f3-b782-bc55a61a1171">1.30</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="i6c563bcd73224db5b7bab4a515b6de42_D20220401-20220630" decimals="INF" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0MjkxOQ_758549c4-7bab-44fe-ba5d-87874dd05d94">2.00</ix:nonFraction>%, depending on our total leverage ratio. The primary interest rate for the Term Loan is based on Adjusted Term SOFR, plus a margin ranging from <ix:nonFraction unitRef="number" contextRef="ide0fc8133e7a4e3d8b9e669f81415693_I20220630" decimals="INF" name="us-gaap:DerivativeFixedInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0Mjg5NQ_8542f57e-e3e1-475c-90c8-e8b1c9722fc9">1.25</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="i97455735336d4958b502befb539ba9b3_I20220630" decimals="INF" name="us-gaap:DerivativeFixedInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0MjkwMw_0bddd6f3-a54a-48e1-b2bc-f00f0a1cd1e0">1.95</ix:nonFraction>%, depending on our total leverage ratio. The maturity date of the Revolving Credit Facility is <ix:nonNumeric contextRef="i73f6a9e971ef44e3832a8f1376ebfab8_D20220401-20220630" name="us-gaap:DebtInstrumentMaturityDateRangeEnd1" format="ixt:date-monthname-day-year-en" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0MjkzNg_1e4b4ce5-a494-4760-a85c-6eaf0c33a4bb">April&#160;28, 2025</ix:nonNumeric> and the Term Loan is <ix:nonNumeric contextRef="i73f9c536dc464425bb54aedb5de734a1_D20220401-20220630" name="us-gaap:DebtInstrumentMaturityDateRangeEnd1" format="ixt:date-monthname-day-year-en" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0Mjk1Mw_46d9cbf2-f9e8-4fb8-a54e-f39b4ea46231">April&#160;28, 2027</ix:nonNumeric>.  The credit facility contains two, twelve-month extension options at our election.  Based on our current total leverage ratio, we can elect to borrow at Adjusted Term SOFR plus 1.35% and Adjusted Term SOFR plus 1.30% for the Revolving Credit Facility and Term Loan, respectively, or alternatively, we can choose to borrow at a &#8220;base rate&#8221; equal to (i) the highest of (a) the Federal Funds Rate plus 0.5%, (b) the prime rate announced by JPMorgan Chase Bank, N.A., and (c) Adjusted Term SOFR plus 1.0%, plus (ii) a margin ranging from 0.30% to 1.00% for base rate loans under the Revolving Credit Facility or a margin ranging from 0.25% to 0.95% for base rate loans under the Term Loan. If the &#8220;base rate&#8221; is less than 1.0%, it will be deemed to be 1.0% for purposes of the Credit Facility. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 29, 2022, we acquired Flagstaff Medical Center, a <ix:nonFraction unitRef="sqft" contextRef="i5d9c4a91faa944d9bb6e4c17862ce911_I20220429" decimals="0" name="us-gaap:AreaOfRealEstateProperty" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0MjgwOA_787201dd-4363-43db-bb0b-5e34f08cd42b">26,000</ix:nonFraction> square foot medical office property located in Flagstaff, AZ for approximately $<ix:nonFraction unitRef="usd" contextRef="i5d9c4a91faa944d9bb6e4c17862ce911_I20220429" decimals="-3" name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTA5OTUxMTY0MjgzOQ_1a60bb55-8cf9-41f5-836e-11405a892507">17,200</ix:nonFraction>.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May&#160;10, 2022, our board of directors approved a gross dividend for the second quarter of 2022 of $<ix:nonFraction unitRef="usdPerShare" contextRef="i133c2783a04e47efbbfa4eb464eb8070_D20220401-20220630" decimals="3" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfOTA1_738d6110-1983-40dc-99ef-83e43d13021d">0.14</ix:nonFraction> per share to stockholders of record as of June&#160;28, 2022. The dividend will be paid on or around June&#160;29, 2022.  Class A, Class M, Class A-I, Class M-I and Class D stockholders will receive $<ix:nonFraction unitRef="usdPerShare" contextRef="i133c2783a04e47efbbfa4eb464eb8070_D20220401-20220630" decimals="3" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF83Ni9mcmFnOjM4ODc4MThmM2NhMTQ0ZmM4MzExNTFhNDY5YjA0ZDEyL3RleHRyZWdpb246Mzg4NzgxOGYzY2ExNDRmYzgzMTE1MWE0NjliMDRkMTJfMTEwNQ_738d6110-1983-40dc-99ef-83e43d13021d">0.14</ix:nonFraction> per share, less applicable class-specific fees, if any.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May&#160;10, 2022, we renewed our Advisory Agreement for a one-year term expiring on June 5, 2023, without any other changes.</span></div></ix:continuation><div style="margin-top:9pt;padding-left:9pt;padding-right:9pt;text-align:center;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">*&#160;&#160;*&#160;&#160;*&#160;&#160;*&#160;&#160;*&#160;&#160;*</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_79"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:6.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:90.848%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Item&#160;2.</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.</span></td></tr></table></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$ in thousands, except per share amounts</span></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cautionary Note Regarding Forward-Looking Statements</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This Quarterly Report on Form 10-Q ("Form 10-Q") may contain forward-looking statements within the meaning of Section&#160;21E of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), and Section&#160;27A of the Securities Act of 1933, as amended (the "Securities Act"), regarding, among other things, our plans, strategies and prospects, both business and financial. Forward-looking statements include, but are not limited to, statements that represent our beliefs concerning future operations, strategies, financial results or other developments. Forward-looking statements can be identified by the use of forward-looking terminology such as, but not limited to, &#8220;may,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;would be,&#8221; &#8220;believe,&#8221; or &#8220;continue&#8221; or the negative or other variations of comparable terminology. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this Form 10-Q is filed with the SEC. Except as required by law, we do not undertake to update or revise any forward-looking statements contained in this Form 10-Q. Important factors that could cause actual results to differ materially from the forward-looking statements are disclosed in &#8220;Item 1A. Risk Factors,&#8221; &#8220;Item 1. Business&#8221; and &#8220;Item 7. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; contained in our 2021 Form 10-K and our periodic reports filed with the SEC.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_82"></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Management Overview</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations (&#8220;MD&amp;A&#8221;) is intended to help the reader understand our results of operations and financial condition. This MD&amp;A is provided as a supplement to, and should be read in conjunction with, our consolidated financial statements and the accompanying notes to the consolidated financial statements appearing elsewhere in this Form 10-Q. All references to numbered Notes are to specific notes to our consolidated financial statements beginning on page 7 of this Form 10-Q, and the descriptions referred to are incorporated into the applicable portion of this section by reference. References to &#8220;base rent&#8221; in this Form 10-Q refer to cash payments made under the relevant lease(s), excluding real estate taxes and certain property operating expenses that are paid by us and are recoverable under the relevant lease(s) and exclude adjustments for straight-line rent revenue and above- and below-market lease amortization.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discussions surrounding our portfolio of properties refer to our Consolidated Properties, including our DST Properties, and our Unconsolidated Properties which can be found below (see Item 2 - Properties).  </span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our primary business is the ownership and management of a diversified portfolio of industrial, office, residential, retail and other properties primarily located in the United States. The residential sector includes apartment properties and single-family rental homes.  It is expected that over time our real estate portfolio will be further diversified on a global basis and will be further complemented by investments in real estate-related assets. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are managed by our Advisor, LaSalle Investment Management, Inc., a subsidiary of our Sponsor, Jones Lang LaSalle Incorporated (NYSE: JLL), a leading global financial and professional services firm that specializes in commercial real estate and investment management. We hire property management and leasing companies to provide the on-site, day-to-day management and leasing services for our properties. When selecting a property management or leasing company for one of our properties, we look for service providers that have a strong local market or industry presence, create portfolio efficiencies, have the ability to develop new business for us and will provide a strong internal control environment that will comply with our Sarbanes-Oxley Act of 2002 internal control requirements. We currently use a mix of property management and leasing service providers that include large national real estate service firms, including an affiliate of our Advisor and smaller local firms.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span><br/></span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">24</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We seek to minimize risk and maintain stability of income and principal value through broad diversification across property sectors and geographic markets and by balancing tenant lease expirations and debt maturities across the real estate portfolio. Our diversification goals also take into account investing in sectors or regions we believe will create returns consistent with our investment objectives. Under normal conditions, we intend to pursue investments principally in well-located, well-leased properties within the industrial, office, residential, retail and other sectors. We expect to actively manage the mix of properties and markets over time in response to changing operating fundamentals within each property sector and to changing economies and real estate markets in the geographic areas considered for investment. When consistent with our investment objectives, we also seek to maximize the tax efficiency of our investments through like-kind exchanges and other tax planning strategies.</span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following charts summarize our portfolio diversification by property sector and geographic region based upon the fair value of our properties. These tables provide examples of how our Advisor evaluates our real estate portfolio when making investment decisions.</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Estimated Percent of Fair Value as of March&#160;31, 2022: </span></div><div style="margin-top:9pt;text-align:center;text-indent:22.5pt"><img src="jllipt-20220331_g2.jpg" alt="jllipt-20220331_g2.jpg" style="height:312px;margin-bottom:5pt;vertical-align:text-bottom;width:589px"/></div><div style="margin-top:9pt;text-align:center;text-indent:22.5pt"><img src="jllipt-20220331_g3.jpg" alt="jllipt-20220331_g3.jpg" style="height:312px;margin-bottom:5pt;vertical-align:text-bottom;width:589px"/></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_85"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our investments are not materially impacted by seasonality, despite certain of our retail tenants being impacted by seasonality. Percentage rents (rents computed as a percentage of tenant sales) that we earn from investments in retail properties may, in the future, be impacted by seasonality.</span></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. For example, significant estimates and assumptions have been made with respect to the useful lives of assets, recoverable amounts of receivables, fair value of derivatives and real estate assets, initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions. Actual results could differ from those estimates.</span></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Critical Accounting Policies</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This MD&amp;A is based upon our consolidated financial statements, which have been prepared in accordance with GAAP. The preparation of these consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. Management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. We believe there have been no significant changes during the three months ended March 31, 2022 to the items that we disclosed as our critical accounting policies and estimates under &#8220;Item 7. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; in our 2021 Form 10-K.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Initial Valuations and Estimated Useful Lives or Amortization Periods for Real Estate Investments and Intangibles </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These estimates are particularly important as they are used for the allocation of purchase price between building, land and other identifiable intangibles, including above, below and at-market leases. As a result, the impact of these estimates on our operations could be substantial. Significant differences in annual depreciation or amortization expense may result from the differing useful life or amortization periods related to such purchased assets and liabilities. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Impairment of Long-Lived Assets </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our estimate of the expected future cash flows used in testing for impairment is subjective and based on, among other things, our estimates regarding future market conditions, rental rates, occupancy levels, costs of tenant improvements, leasing commissions and other tenant concessions, assumptions regarding the residual value of our properties at the end of our anticipated holding period, discount rates and the length of our anticipated holding period. These assumptions could differ materially from actual results. If changes in our strategy or the market conditions result in a reduction in the holding period and an earlier sale date, an impairment loss could be recognized and such loss could be material.  No such strategy changes or market conditions have been identified as of March&#160;31, 2022.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Collectibility of Rental Revenue</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Individual leases are evaluated for collectibility at each reporting period. We evaluate the collectibility of rents and other receivables at each reporting period based on factors including, among others, tenants' payment history, the financial condition of the tenant, business conditions and trends in the industry in which the tenant operates and economic conditions in the geographic area where the property is located. If evaluation of these factors or others indicates it is not probable we will collect substantially all rent we recognize an adjustment to rental revenue. If our judgment or estimation regarding probability of collection changes we may adjust or record additional rental revenue in the period such conclusion is reached.</span></div><div style="margin-top:4.5pt;text-indent:24.75pt"><span><br/></span></div><div style="margin-top:4.5pt;text-indent:24.75pt"><span><br/></span></div><div style="margin-top:6pt;text-indent:22.5pt"><span><br/></span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_88"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Properties  </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Properties owned at March&#160;31, 2022, including DST Properties, are as follows:</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.958%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.386%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.339%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.109%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.115%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage Leased&#160;as&#160;of March&#160;31, 2022</span></div></td></tr><tr style="height:20pt"><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Property Name</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition&#160;Date</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ownership<br/>%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net&#160;Rentable</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Square Feet</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Consolidated Properties:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Industrial Segment:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Kendall Distribution Center&#160;</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Atlanta, GA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 30, 2005</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">409,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Suwanee Distribution Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Suwanee, GA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 28, 2013</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">559,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Grand Prairie Distribution Center&#160;</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3325 West Trinity Boulevard</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Grand Prairie, TX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">January 22, 2014</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">277,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3324 West Trinity Boulevard</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Grand Prairie, TX</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 31, 2019</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">145,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Charlotte Distribution Center </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Charlotte, NC</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 27, 2014</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">347,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">DFW Distribution Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4050 Corporate Drive</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Grapevine, TX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">April 15, 2015</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">441,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4055 Corporate Drive</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Grapevine, TX</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">April 15, 2015</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">202,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">89</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">O'Hare Industrial Portfolio</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">200 Lewis</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Wood Dale, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2015</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1225 Michael Drive</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Wood Dale, IL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2015</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">109,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1300 Michael Drive</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Wood Dale, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2015</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">71,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1301 Mittel Drive</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Wood Dale, IL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2015</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">53,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1350 Michael Drive</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Wood Dale, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2015</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">56,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2501 Allan Drive</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Elk Grove, IL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2015</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">198,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2601 Allan Drive</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Elk Grove, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2015</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">124,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Tampa Distribution Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Tampa, FL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">April 11, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">386,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Aurora Distribution Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Aurora, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 19, 2016</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">305,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Valencia Industrial Portfolio:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28150 West Harrison Parkway</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Valencia, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 29, 2016</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">87,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28145 West Harrison Parkway</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Valencia, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 29, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">114,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28904 Paine Avenue</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Valencia, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 29, 2016</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">117,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25045 Tibbitts Avenue</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Santa Clarita, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 29, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">142,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Pinole Point Distribution Center:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6000 Giant Road</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Richmond, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 8, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">225,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6015 Giant Road</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Richmond, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 8, 2016</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">252,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6025 Giant Road</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Richmond, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 29, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">41,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mason Mill Distribution Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Buford, GA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 20, 2017</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">340,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fremont Distribution Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">45275 Northport Court</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fremont, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">March 29, 2019</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">117,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">45630 Northport Loop East</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fremont, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">March 29, 2019</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Taunton Distribution Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Taunton, MA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">August 23, 2019</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chandler Distribution Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1725 East Germann Road</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chandler, AZ</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 5, 2019</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">122,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1825 East Germann Road</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chandler, AZ</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 5, 2019</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">89,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fort Worth Distribution Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fort Worth, TX</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 23, 2020</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">351,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Whitestown Distribution Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4993 Anson Boulevard</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Whitestown, IN</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 11, 2020</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">280,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5102 E 500 South</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Whitestown, IN</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 11, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">440,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Louisville Distribution Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Shepherdsville, KY</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">January 21, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,040,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Southeast Phoenix Distribution Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6511 West Frye Road</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chandler, AZ</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">February 23, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">102,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.958%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.386%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.339%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.109%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.115%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage Leased&#160;as&#160;of March&#160;31, 2022</span></div></td></tr><tr style="height:20pt"><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Property Name</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition&#160;Date</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ownership<br/>%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net&#160;Rentable</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Square Feet</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6565 West Frye Road</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chandler, AZ</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">February 23, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">118,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6615 West Frey Road</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chandler, AZ</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">February 23, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">136,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6677 West Frye Road</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chandler, AZ</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">February 23, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">118,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Louisville Airport Distribution Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Louisville, KY</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 24, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">284,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">237 Via Vera Cruz (1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Marcos, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 2, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">66,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13500 Danielson Street (1)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Poway, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 2, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">73,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4211 Starboard Drive (1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fremont, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 9, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">130,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5 National Way</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Durham, NC</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 28, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">188,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47 National Way</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Durham, NC</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 28, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">187,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Friendship Distribution Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4627 Distribution Pkwy</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Buford, GA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 20, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">126,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4630 Distribution Pkwy</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Buford, GA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 20, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">149,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4646 Distribution Pkwy</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Buford, GA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 20, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">102,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4651 Distribution Pkwy</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Buford, GA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 20, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">272,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">South San Diego Distribution Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2001 Sanyo Avenue</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Diego, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 28, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">320,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2055 Sanyo Avenue</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Diego, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 28, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">209,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">87</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2065 Sanyo Avenue</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Diego, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 28, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">136,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1755 Britannia Drive</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Elgin, IL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">November 16, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2451 Bath Road</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Elgin, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">November 16, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">327,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">687 Conestoga Parkway</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Shepardsville, KY</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">November 17, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">327,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2840 Loker Avenue</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Carlsbad, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">November 30, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">104,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15890 Bernardo Center Drive</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Diego, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">November 30, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">48,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Office Segment:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Monument IV at Worldgate&#160;</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Herndon,&#160;VA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">August 27, 2004</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">228,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100%</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">140 Park Avenue</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Florham Park, NJ</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 21, 2015</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Juan Medical Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Juan Capistrano, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">April 1, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Genesee Plaza</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9333 Genesee Ave</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Diego, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 2, 2019</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">78</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9339 Genesee Ave</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Diego, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 2, 2019</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">81,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">91</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fountainhead Corporate Park</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fountainhead Corporate Park I</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Tempe, AZ</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">February 6, 2020</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">167,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fountainhead Corporate Park II</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Tempe, AZ</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">February 6, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">128,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">170 Park Avenue</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Florham Park, NJ</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">February 2, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">147,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9101 Stony Point Drive</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Richmond, VA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 15, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">87,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">North Tampa Surgery Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Odessa, FL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 8, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Duke Medical Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Durham, NC</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 23, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">60,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">KC Medical Office Portfolio</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8600 NE 82nd Street</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Kansas City, MO</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 23, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1203 SW 7 Highway</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Blue Springs, MO</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 23, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Roeland Park Medical Office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Roeland Park, KS</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 28, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">South Reno Medical Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reno, NV</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 28, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Sugar Land Medical Plaza</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Sugar Land, TX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 30, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Residential Segment:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Townlake of Coppell</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Coppell, TX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 22, 2015</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">351,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">AQ Rittenhouse</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Philadelphia, PA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 30, 2015</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">92,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">98</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Lane Parke Apartments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mountain Brook, AL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 26, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">263,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">90</span></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">28</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.958%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.386%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.339%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.109%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.115%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage Leased&#160;as&#160;of March&#160;31, 2022</span></div></td></tr><tr style="height:20pt"><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Property Name</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition&#160;Date</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ownership<br/>%</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net&#160;Rentable</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Square Feet</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Dylan Point Loma</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">San Diego, CA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">August 9, 2016</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">204,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">The Penfield</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">St. Paul, MN</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 22, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">245,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">180 North Jefferson</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chicago, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 1, 2016</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">217,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Jory Trail at the Grove</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Wilsonville, OR</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 14, 2017</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">315,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">The Reserve at Johns Creek</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Johns Creek, GA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 28, 2017</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">244,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Villas at Legacy</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Plano, TX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 6, 2018</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">340,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Stonemeadow Farms</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Bothell, WA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 13, 2019</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">228,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Summit at San Marcos</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chandler, AZ</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 31, 2019</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">257,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Presley Uptown (1)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Charlotte, NC</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2019</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">98</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">190,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Princeton North Andover</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">North Andover, MA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 3, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">204,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">The Preserve at the Meadows</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fort Collins, CO</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">August 23, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">208,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">The Rockwell</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Berlin, MA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">August 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">233,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">98</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Miramont Apartments</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fort Collins, CO</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 29, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">212,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Pinecone Apartments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fort Collins, CO</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 29, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">176,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reserve at Venice</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">North Venice, FL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 17, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">268,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">94</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Woodside Trumbull</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Trumbull, CT</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 21, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">207,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">89</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Jefferson Lake Howell</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Casselberry, FL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">March 30, 2022</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">374,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">91</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Retail Segment:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">The District at Howell Mill&#160;(1)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Atlanta, GA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 15, 2007</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">88%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">306,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Grand Lakes Marketplace (1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Katy, TX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 17, 2013</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">90</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">131,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Oak Grove Plaza</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Sachse, TX</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">January 17, 2014</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">94</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Rancho Temecula Town Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Temecula, CA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 16, 2014</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">165,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Skokie Commons</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Skokie, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 15, 2015</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">98</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Whitestone Market</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Austin, TX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2015</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">145,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Maui Mall</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Kahului, HI</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 22, 2015</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">235,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">83</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silverstone Marketplace</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Scottsdale, AZ</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 27, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">78,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">93</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Kierland Village Center</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Scottsdale, AZ</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2016</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">118,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">98</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Timberland Town Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Beaverton, OR</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2016</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">92,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Montecito Marketplace</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Las Vegas, NV</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">August 8, 2017</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">190,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Milford Crossing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Milford, MA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">January 29, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">159,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other Segment:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">South Beach Parking Garage (2)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Miami Beach, FL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">January 28, 2014</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">130,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">N/A</span></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Unconsolidated Properties:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chicago Parking Garage (3)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Chicago, IL</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 23, 2014</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">167,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NYC Retail Portfolio (4)(5)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NY/NJ</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 8, 2015</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,938,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">91</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Pioneer Tower (6)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Portland, OR</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 28, 2016</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">296,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">68</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">The Tremont (1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Burlington, MA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 19, 2018</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">175,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">The Huntington (1)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Burlington, MA</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 19, 2018</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">115,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">93</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Siena Suwanee Town Center</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Suwanee, GA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 15, 2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">226,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">92</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Single-Family Rental Portfolio (5)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Various</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">August 5, 2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,207,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Kingston at McLean Crossing (1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">McLean, VA</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 3, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">80</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">223,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97</span></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19.84pt">We own a majority interest in the joint venture that owns a fee simple interest in this property.</span></div><div style="padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19.84pt">The parking garage contains 343 stalls.  This property is owned leasehold. </span></div><div style="padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19.84pt">We own a condominium interest in the building that contains a 366 stall parking garage. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">29</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19.84pt">We own an approximate 14% interest in a portfolio of eight urban infill retail properties located in the greater New York City area.</span></div><div style="padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19.84pt">We have elected the fair value option to account for this investment.</span></div><div style="padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(6)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19.84pt">We own a condominium interest in the building that contains a 17 story multi-tenant office property. </span></div><div><span><br/></span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_91"></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating Statistics</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We generally hold investments in properties with high occupancy rates leased to quality tenants under long-term, non-cancelable leases. We believe these leases are beneficial to achieving our investment objectives. The following table shows our operating statistics by property type for our consolidated properties as of March&#160;31, 2022:</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.808%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.534%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.551%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.256%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.551%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.537%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:16.752%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number&#160;of<br/>Properties</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Area<br/>(Sq Ft)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%&#160;of&#160;Total<br/>Area</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Occupancy&#160;%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average&#160;Minimum<br/>Base Rent per<br/>Occupied&#160;Sq&#160;Ft&#160;(1)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Industrial</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,392,000&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.31&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Office</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,251,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32.16&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Residential</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,828,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22.51&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Retail</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,836,000&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20.84&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">130,000&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">N/A</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,437,000&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.36&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:6pt;padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19.84pt">Amount calculated as in-place minimum base rent for all occupied space at March&#160;31, 2022 and excludes any straight line rents, tenant recoveries and percentage rent revenues.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March&#160;31, 2022, our average effective annual rent per square foot, calculated as average minimum base rent per occupied square foot less tenant concessions and allowances, was $12.31 for our consolidated properties.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_94"></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recent Events and Outlook </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Property Valuations</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property valuations across our portfolio are seeing positive valuation increases especially within our residential, industrial and healthcare properties driven by good underlying property fundamentals and strong capital markets.  </span></div><div style="margin-top:9pt;text-indent:13.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Credit Facility</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 24, 2021, we entered into our Credit Facility providing for a $650,000 revolving line of credit and unsecured term loan made up of a $415,000 Revolving Credit Facility and a $235,000 Term Loan. The Credit Facility provides us with the ability, from time to time, to increase the size of the Credit Facility up to a total of $800,000, subject to receipt of lender commitments and other conditions. We</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> are in compliance with our debt covenants as of March&#160;31, 2022. We expect to maintain compliance with our debt covenants.</span></div><div style="margin-top:9pt;text-indent:13.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Liquidity</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At March&#160;31, 2022, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">we had in excess of $124,000 in total cash on hand and $210,000 of capacity under our Credit Facility. Looking at the remainder of 2022 and into 2023, we expect to utilize our cash on hand and Credit Facility capacity to acquire new properties, fund repurchases of our shares and fund quarterly distributions.</span></div><div style="margin-top:9pt;text-indent:13.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Share Repurchase Plan</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the first quarter</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of 2022, we repurchased $41,266 of our common stock pursuant to our share repurchase plan, which had a quarterly limit of $139,775.  T</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">he quarterly limit on repurchases is calculated as 5% of our NAV as of the last day of the previous quarter.  The limit for the second quarter of 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is $161,697.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">30</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">General Company and Market Commentary</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2021, the SEC declared our Current Public Offering effective registering up to&#160;$3,000,000&#160;in any combination of shares of our Class A, Class M, Class A-I and Class M-I common stock, consisting of up to&#160;$2,700,000&#160;of shares offered in our primary offering and up to&#160;$300,000&#160;in shares offered pursuant to our distribution reinvestment plan. We intend to offer shares of our common stock on a continuous basis for an indefinite period of time by filing a new registration statement before the end of each offering period, subject to regulatory approval. The per share purchase price varies from day to day and, on each day, equals our NAV per share for each class of common stock, plus, for Class A and Class A-I shares, applicable selling commissions.  The Dealer Manager is distributing shares of our common stock in our Current Public Offering. We intend to primarily use the net proceeds from the offering, after we pay the fees and expenses attributable to the offerings and our operations, to (1) grow and further diversify our portfolio by making investments in accordance with our investment strategy and policies, (2) reduce borrowings and repay indebtedness incurred under various financing instruments and (3) fund repurchases of our shares under our share repurchase plan.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 3, 2015, we commenced our Private Offering of up to $350,000 in shares of our Class D common stock with an indefinite duration.  Proceeds from our Private Offering will be used for the same corporate purposes as the proceeds from our public offerings.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 16, 2019, we through our operating partnership, initiated the DST Program to raise up to $500,000, which our board of directors increased to $1,000,000 on August 10, 2021, in private placements exempt from registration under the Securities Act through the sale of beneficial interests to accredited investors in specific DSTs holding DST Properties, which may be sourced from our real properties or from third parties.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Capital Raised and Use of Proceeds</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March&#160;31, 2022, we have raised gross proceeds of over $3,368,000 from our public and private offerings and private share sales since 2012.  We used these proceeds along with proceeds from mortgage debt to acquire approximately $4,653,000 of real estate investments, deleverage the Company by repaying mortgage loans of approximately $647,000 and repurchase shares of our common stock for approximately $947,000. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Property Acquisitions</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 30, 2022, we acquired Jefferson Lake Howell, a 384-unit residential property located in Casselberry, Florida for approximately $154,100. The acquisition was funded with cash on hand and a draw on our Credit Facility.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Property Dispositions</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 6, 2022, we sold Norfleet Distribution Center, a 702,000 square foot industrial property located in Kansas City, Missouri for approximately $60,375 less closing costs.  We recorded a gain on the sale of the property in the amount of approximately $34,186.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 24, 2022, we sold The Edge at Lafayette, a 207,000 square foot student housing apartment property located in Lafayette, Louisiana for approximately $16,500 less closing costs. We recorded a gain on the sale of the property in the amount of approximately $13.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financing</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 1, 2022, we entered into a $55,800 mortgage payable on Reserve at Venice. The mortgage note bears an interest of 2.98% and matures on March 1, 2032. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 1, 2022, we entered into a $40,000 mortgage payable on Friendship Distribution Center.  The mortgage note bears an interest rate of SOFR plus 1.75% (2.03% at March 31, 2022) and matures on March 1, 2029.</span></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investment Objectives and Strategy</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our primary investment objectives are:</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">to generate an attractive level of current income for distribution to our stockholders;</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">to preserve and protect our stockholders' capital investments;</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">to achieve appreciation of our NAV over time; and</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">to enable stockholders to utilize real estate as an asset class in diversified, long-term investment portfolios.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">31</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We cannot ensure that we will achieve our investment objectives.  Our charter places numerous limitations on us with respect to the manner in which we may invest our funds.  In most cases, these limitations cannot be changed unless our charter is amended, which may require the approval of our stockholders.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cornerstone of our investment strategy is to acquire and manage income-producing commercial real estate properties and real estate-related assets around the world. We believe this strategy enables us to provide our stockholders with a portfolio that is well-diversified across property type, geographic region and industry, both in the United States and internationally. It is our belief that adding international investments to our portfolio over time will serve as an effective tool to construct a well-diversified portfolio designed to provide our stockholders with stable distributions and attractive long-term risk-adjusted returns.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We believe that our broadly diversified portfolio benefits our stockholders by providing:</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">diversification of sources of income;</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">access to attractive real estate opportunities currently in the United States and, over time, around the world; and</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">exposure to a return profile that should have lower correlations with other investments. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since real estate markets are often cyclical in nature, our strategy allows us to more effectively deploy capital into property types and geographic regions where the underlying investment fundamentals are relatively strong or strengthening and away from those property types and geographic regions where such fundamentals are relatively weak or weakening. We intend to meet our investment objectives by selecting investments across multiple property types and geographic regions to achieve portfolio stability, diversification, current income and favorable risk-adjusted returns. To a lesser degree, we also intend to invest in debt and equity interests backed principally by real estate, which we refer to collectively as &#8220;real estate-related assets.&#8221;</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We will leverage LaSalle's broad commercial real estate research and strategy platform and resources to employ a research-based investment philosophy focused on building a portfolio of commercial properties and real estate-related assets that we believe has the potential to provide stable income streams and outperform market averages over an extended holding period.  Furthermore, we believe that having access to LaSalle and JLL's international organization and platform, with real estate professionals living and working full time throughout our global target markets, will be a valuable resource to us when considering and executing upon international investment opportunities. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our board of directors has adopted investment guidelines for our Advisor to implement and actively monitor in order to allow us to achieve and maintain diversification in our overall investment portfolio. Our board of directors formally reviews our investment guidelines on an annual basis and our investment portfolio on a quarterly basis or, in each case, more often as they deem appropriate. Our board of directors reviews the investment guidelines to ensure that the guidelines are being followed and are in the best interests of our stockholders.  Each such determination and the basis therefor shall be set forth in the minutes of the meetings of our board of directors.  Changes to our investment guidelines must be approved by our board of directors but do not require notice to or the vote of stockholders.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We seek to invest:</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">up to 95% of our assets in properties;</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">up to 25% of our assets in real estate-related assets; and</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">up to 15% of our assets in cash, cash equivalents and other short-term investments.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the above, the actual percentage of our portfolio that is invested in each investment type may from time to time be outside these target levels due to numerous factors including, but not limited to, large inflows of capital over a short period of time, lack of attractive investment opportunities or increases in anticipated cash requirements for repurchase requests. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We expect to maintain a targeted Company leverage ratio (calculated as our share of total liabilities divided by our share of the fair value of total assets) of between 30% and 50%.  We intend to use low leverage, or in some cases possibly no leverage, to finance new acquisitions in order to maintain our targeted Company leverage ratio. Our Company leverage ratio was 39% as of March&#160;31, 2022.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">32</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">2022 Key Initiatives</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the remainder of 2022, we intend to use capital raised from our public and private offerings and the DST Program to acquire new investment opportunities, repurchase stock under our share repurchase plan and fund quarterly distributions.  We look to make investments that fit with our investment objectives and guidelines.  Likely investment candidates may include well-located, well-leased residential properties, industrial properties, medical office properties and publicly traded REIT securities.  We will also attempt to further our geographic diversification.  We will look to keep the Company leverage ratio in the 30% to 50% range in the near term consistent with traditional core real estate.  We also intend to use our Revolving Credit Facility to allow us to efficiently manage our cash flows.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">33</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_97"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Results of Operations</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">General </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our revenues are primarily received from tenants in the form of fixed minimum base rents and recoveries of operating expenses. Our expenses primarily relate to the costs of operating and financing the properties. Our share of the net income or net loss from our unconsolidated real estate affiliates is included in income from unconsolidated affiliates and fund investments. We believe the following analysis of reportable segments provides important information about the operating results of our real estate investments, such as trends in total revenues or operating expenses that may not be as apparent in a period-over-period comparison of the entire Company.  We group our investments in real estate assets from continuing operations into five reportable operating segments based on the type of property, which are residential, industrial, office, retail and other.  Operations from corporate level items and real estate assets sold are excluded from reportable segments. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Properties acquired or sold during any of the periods presented are presented within the recent acquisitions and sold properties line. The properties currently presented within the recent acquisitions and sold properties line include the properties listed as acquired in the current or prior year in the Properties section above in addition to South Seattle Distribution Cener (sold in 2021), Norfleet Distribution Center (sold in 2022) and The Edge at Lafayette (sold in 2022). Properties owned for the three months ended March&#160;31, 2022 and 2021 are referred to as our comparable properties. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Results of Operations for the Three Months Ended March&#160;31, 2022 and 2021  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenues</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following chart sets forth revenues by reportable segment for the three months ended March 31, 2022 and 2021:</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:44.794%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.589%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.589%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.017%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.312%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$<br/>&#160;Change</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%<br/>Change</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenues:</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rental revenue</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Residential</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,541&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,188&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,353&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.9&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Industrial </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,610&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,742&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">868&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.8&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Office</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,368&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,852&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">516&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.5&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Retail </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,615&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,053&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,562&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.0&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">61&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">90.6&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Comparable properties total</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51,195&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">46,867&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,328&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.2&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Recent acquisitions and sold properties</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,760&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,864&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,896&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">514.9&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total rental revenue</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">74,955</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">50,731</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">24,224</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">47.7</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other revenue</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Residential</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">814&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">730&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11.5&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Industrial </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">900.0&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Office</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">293&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">371&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(78)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21.0)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Retail </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13.3)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">601&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">631&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(30)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4.8)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Comparable properties total</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,820&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,819&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.1&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Recent acquisitions and sold properties</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">396&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">365&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,177&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total other revenue</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,216</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,850</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">366</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">19.8</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total revenues</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">77,171</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">52,581</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">24,590</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">46.8</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Rental revenues at comparable properties increased $4,328 for the three months ended March&#160;31, 2022 as compared to the same period in 2021.  The increase of $1,562 within our retail segment was primarily related to an increase in collections from tenants that experienced a decrease in operations from COVID-19 in 2021 as well as an increase in recovery revenue related to increased operating expenses within the segment during the three months ended March&#160;31, 2022.  The increase in rental </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">34</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">revenue from our residential, industrial and office segments are primarily related to higher rental rates and higher occupancy at several of the properties during the three months ended March&#160;31, 2022 as compared to the same period of 2021. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other revenues relate mainly to parking and nonrecurring revenue such as lease termination fees. Other revenue at comparable properties increased by $1 for the three months ended March&#160;31, 2022 as compared to the same period in 2021. The minimal increase is primarily related to lease termination fees and increased parking revenue collected in 2022 within our residential segment. The increase was offset by a decrease in lease termination revenue of $50 within our office segment related to collections made in the three months ended March 31, 2021 that did not reoccur in 2022.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating Expenses</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following chart sets forth real estate taxes and property operating expenses by reportable segment, for the three months ended March 31, 2022 and 2021:</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:39.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.589%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.589%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.803%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.805%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$<br/>&#160;Change</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%<br/>Change</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Operating expenses:</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Real estate taxes</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Residential</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,026&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,049&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(23)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.8)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Industrial </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,366&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,237&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">129&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.8&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Office</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">871&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">799&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.0&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Retail </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,671&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,633&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.3&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">113&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.7)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Comparable properties total</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,047&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,833&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">214&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.7&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Recent acquisitions and sold properties</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,264&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">253&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,011&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,190&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total real estate taxes</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11,311</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8,086</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,225</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">39.9</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property operating expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Residential</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,784&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,363&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">421&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.6&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Industrial </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,328&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,235&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">93&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.5&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Office</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,582&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,472&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">110&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.5&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Retail </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,124&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,046&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">78&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.8&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">208&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">194&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.2&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Comparable properties total</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,026&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,310&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">716&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.7&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Recent acquisitions and sold properties</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,975&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">601&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,374&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">561.4&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total property operating expenses</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">14,001</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">9,911</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,090</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">41.3</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total operating expenses</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">25,312</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">17,997</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7,315</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">40.6</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Real estate taxes at comparable properties increased by $214 for the three months ended March&#160;31, 2022 as compared to the same period in 2021.  Our properties are reassessed periodically by the taxing authorities, which may result in increases or decreases in the real estates taxes that we owe. Overall, we expect real estate taxes to increase over time; however, we utilize real estate tax consultants to attempt to control assessment increases.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property operating expenses consist of the costs of ownership and operation of the real estate investments, many of which are recoverable under net leases.  Examples of property operating expenses include insurance, utilities and repair and maintenance expenses.  Property operating expenses at comparable properties increased $716 for the three months ended March&#160;31, 2022 as compared to the same period in 2021. The increases in three months ending March 31, 2022 as compared to 2021 generally relate to higher property management fees due to high rents, higher salary costs and higher utility costs in some markets.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">35</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following chart sets forth revenues and expenses not directly related to the operations of the reportable segments for the three months ended March 31, 2022 and 2021:</span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:50.290%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.955%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.416%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.420%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$<br/>&#160;Change</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%<br/>&#160;Change</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property general and administrative</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">697&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">660&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.6&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Advisor fees</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17,858&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,325&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,533&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">182.3&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Company level expenses</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,074&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,193&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(119)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10.0)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,974&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,945&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,029&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65.3&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest expense</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17,852&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,262&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,590&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">92.7&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Gain) loss from unconsolidated affiliates and fund investments</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(29,025)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">339&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(29,364)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,662)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment income on marketable securities</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(304)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(304)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100.0&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net realized gain upon sale of marketable securities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(79)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(79)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100.0&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net unrealized change in fair value of investment in marketable securities</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,984&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,984&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100.0&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gain on disposition of property and extinguishment of debt, net</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(31,492)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(33,422)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,930&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5.8)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 25.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total revenues and expenses</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,539&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,302&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,237&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">191.5&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property general and administrative expenses relate mainly to property expenses unrelated to the operations of the property. Property general and administrative expenses increased slightly during the three months ended March&#160;31, 2022 as compared to the same period in 2021 primarily due to the increase in the size of the number of properties.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Advisor fees relate to the fixed advisory and performance fees earned by the Advisor. Fixed fees increase or decrease based on changes in our NAV, which is primarily impacted by changes in capital raised and the value of our properties. The performance fee is accrued when the total return per share for a share class exceeds 7% for that calendar year, and in such years our Advisor will receive 10% of the excess total return above the 7% threshold.  The increase in advisor fees of $11,533 for the three months ended March&#160;31, 2022 as compared to the same period in 2021 is primarily related an increase in NAV and to the accrual of a performance fee in the amount of $8,484.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company level expenses relate mainly to our compliance and administration related costs.  The decrease of $119 in company level expenses for the three months ended March&#160;31, 2022 is primarily related to an decrease in professional fees. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization expense is impacted by the values assigned to buildings, personal property and in-place lease assets as part of the initial purchase price allocation. The increase of $13,029 in depreciation and amortization expense for the three months ended March&#160;31, 2022 as compared to the same period in 2021 was primarily related to the acquisition of new properties.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest expense increased by $8,590 for the three months ended March&#160;31, 2022 as compared to the same period in 2021 primarily as a result of a $4,523 of increased interest expense from new mortgage notes payable placed on several properties and increased usage of our Credit Facility in 2022 as well as $5,042 increased interest expense on the financial obligations related to the DST Program, which includes non-cash interest expense related to the properties deemed probable for repurchase.  Offsetting the increase were unrealized gains on our interest rate swaps in the amount of $1,985 during the three months ended March 31, 2022 compared to unrealized gains of $939 during the same period of 2021.  </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Loss from unconsolidated affiliates and fund investments relates to the income from Chicago Parking Garage, Pioneer Tower, The Tremont, The Huntington, Siena Suwanee Town Center and Kingston at McLean Crossing as well as changes in fair value and operating distributions received from our investment in the NYC Retail Portfolio and Single-Family Rental Portfolio. During the three months ended March&#160;31, 2022, we recorded a $25,355 increase in the fair value of our investment in Single-Family Rental Portfolio.  During the three months ended March&#160;31, 2022, we recorded a $1,447 decrease in the fair value of our investment in the NYC Retail Portfolio as compared to an $1,081 increase in the fair value during the same period of 2021. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investment income on marketable securities relate to dividends earned on our portfolio of publicly traded REIT securities.  We earned $304 on investment income during the three months ended March&#160;31, 2022.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net realized gain upon the sale of marketable securities relate to sales of individual stocks within our portfolio of publicly traded REIT stocks.  We recorded a realized gain of $79 during the three months ended March&#160;31, 2022.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">36</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net unrealized change in fair value of investment in marketable securities relate to changes in fair value of our portfolio of publicly traded REIT securities.  We recorded an unrealized loss of $2,984 during the three months ended March&#160;31, 2022.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gain on disposition of property and extinguishment of debt, net decreased by $1,930 during three months ending March 31, 2022 as compared to the three months ended March 31, 2021.  During the three months ending March 31, 2022 we disposed of Norfleet Distribution Center and The Edge at Lafayette.  During the three months ended March 31, 2021 we disposed of South Seattle Disposition Center.  </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">37</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_103"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Funds From Operations</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Consistent with real estate industry and investment community preferences, we consider funds from operations ("FFO") as a supplemental measure of the operating performance for a real estate investment trust and a complement to GAAP measures because it facilitates an understanding of the operating performance of our properties. The National Association of Real Estate Investment Trusts ("NAREIT") defines FFO as net income (loss) attributable to the Company (computed in accordance with GAAP), excluding gains or losses from cumulative effects of accounting changes, extraordinary items, impairment write-downs of depreciable real estate and sales of properties, plus real estate related depreciation and amortization and after adjustments for these items related to noncontrolling interests and unconsolidated affiliates.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FFO does not give effect to real estate depreciation and amortization because these amounts are computed to allocate the cost of a property over its useful life.   We also use Adjusted FFO ("AFFO") as a supplemental measure of operating performance.  We define AFFO as FFO adjusted for straight-line rental income, amortization of above- and below-market leases, amortization of net discount on assumed debt, gains or losses on the extinguishment and modification of debt, performance fees based on the investment returns on shares of our common stock and acquisition expenses. Because values for well-maintained real estate assets have historically increased or decreased based upon prevailing market conditions, we believe that FFO and AFFO provide investors with an additional view of our operating performance.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to provide a better understanding of the relationship between FFO, AFFO and GAAP net income, the most directly comparable GAAP financial reporting measure, we have provided reconciliations of GAAP net income attributable to Jones Lang LaSalle Income Property Trust, Inc. to FFO, and FFO to AFFO. FFO and AFFO do not represent cash flow from operating activities in accordance with GAAP, should not be considered alternatives to GAAP net income and are not measures of liquidity or indicators of our ability to make cash distributions. We believe that to more comprehensively understand our operating performance, FFO and AFFO should be considered along with the reported net income attributable to Jones Lang LaSalle Income Property Trust, Inc. and our cash flows in accordance with GAAP, as presented in our consolidated financial statements.  Our presentations of FFO and AFFO are not necessarily comparable to the similarly titled measures of other REITs due to the fact that not all REITs use the same definitions.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents a reconciliation of the most comparable GAAP amount of net income attributable to Jones Lang LaSalle Income Property Trust, Inc. to NAREIT FFO for the periods presented:</span></div><div style="margin-top:14pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:72.576%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.694%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.695%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Reconciliation of GAAP net income to NAREIT FFO</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net income attributable to Jones Lang LaSalle Income Property Trust, Inc. Common Stockholders </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">37,935&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30,105&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Real estate depreciation and amortization </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,189&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,422&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on disposition of property and unrealized gain on investment in unconsolidated real estate affiliate </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(53,588)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(34,416)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NAREIT FFO attributable to Jones Lang LaSalle Income Property Trust, Inc. Common Stockholders</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,536&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,111&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Weighted average shares outstanding, basic and diluted </span></td><td colspan="2" style="background-color:#cceeff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">212,104,884&#160;</span></td><td style="background-color:#cceeff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">174,765,072&#160;</span></td><td style="background-color:#cceeff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NAREIT FFO per share, basic and diluted </span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.09&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.11&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:6pt;padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)&#160;&#160;&#160;&#160;Excludes amounts attributable to noncontrolling interests and includes our ownership share of both consolidated properties and unconsolidated real estate affiliates.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">38</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We believe AFFO is useful to investors because it provides supplemental information regarding the performance of our portfolio over time. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents a reconciliation of NAREIT FFO to AFFO for the periods presented:</span></div><div style="margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.088%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.524%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.510%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Reconciliation of NAREIT FFO to AFFO</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NAREIT FFO attributable to Jones Lang LaSalle Income Property Trust, Inc. Common Stockholders</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,536&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,111&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Straight-line rental income </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,687)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(595)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization of above- and below-market leases </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(818)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(762)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization of net discount on assumed debt </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(333)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(58)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on derivative instruments and extinguishment or modification of debt </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,462)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(776)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustment for investments accounted for under the fair value option </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,432&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">444&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net unrealized change in fair value of investment in marketable securities </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,886&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Performance fees </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,207&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisition expenses </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustment for DST Program properties </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">477&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,327)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">AFFO attributable to Jones Lang LaSalle Income Property Trust, Inc. Common Stockholders</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,273&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,145&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Weighted average shares outstanding, basic and diluted </span></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">212,104,884&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">174,765,072&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">AFFO per share, basic and diluted </span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.12&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.09&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:5pt;padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)&#160;&#160;&#160;&#160;Excludes amounts attributable to noncontrolling interests and includes our ownership share of both consolidated properties and unconsolidated real estate affiliates.</span></div><div style="margin-top:5pt;padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2)&#160;&#160;&#160;&#160;Represents the normal and recurring AFFO reconciling adjustments for the NYC Retail Portfolio and Single-Family Rental Portfolio.</span></div><div style="margin-top:5pt;padding-left:31.5pt;text-indent:-31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3)&#160;&#160;&#160;&#160;Adjustments to reflect the AFFO attributable to the Company for DST Program properties.  Prior periods adjusted to conform to current period presentation.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_109"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NAV as of March&#160;31, 2022 </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table provides a breakdown of the major components of our NAV as of March&#160;31, 2022:</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.857%"><tr><td style="width:1.0%"></td><td style="width:24.434%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.312%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.312%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.882%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.310%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.740%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.745%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">March 31, 2022</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Component of NAV</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class A Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class M Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class A-I Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class M-I Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class D Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Real estate investments </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></div></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,425,928&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">875,516&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">217,131&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,433,230&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">140,196&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,092,001&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(965,835)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(348,569)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(86,446)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(570,612)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(55,816)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,027,278)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets and liabilities, net</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">80,620&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29,095&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,216&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">47,630&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,659&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">169,220&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Estimated enterprise value premium</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NAV</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,540,713&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">556,042&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">137,901&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">910,248&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89,039&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,233,943&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Number of outstanding shares</span></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104,576,961&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,681,185&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,335,732&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">61,681,208&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,041,611&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NAV per share</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.73&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.76&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.77&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.76&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.74&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.34pt">The value of our real estate investments was greater than the historical cost by 9.8% as of March&#160;31, 2022.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table provides a breakdown of the major components of our NAV as of December&#160;31, 2021:</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.857%"><tr><td style="width:1.0%"></td><td style="width:24.434%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.312%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.312%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.882%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.310%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.740%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.745%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Component of NAV</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class A Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class M Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class A-I Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class M-I Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Class D Shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Real estate investments </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></div></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,307,210&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">842,232&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">216,341&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,217,062&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">173,358&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,756,203&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(988,699)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(360,918)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(92,708)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(521,543)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(74,289)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,038,157)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets and liabilities, net</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,998&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,871&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,563&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,044&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,856&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">78,332&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Estimated enterprise value premium</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None <br/>assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">None assumed</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NAV</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,356,509&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">495,185&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">127,196&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">715,563&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101,925&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,796,378&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Number of outstanding shares</span></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100,038,362&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36,458,191&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,356,309&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">52,676,693&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,513,281&#160;</span></td><td style="background-color:#ffffff;border-top:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NAV per share</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.56&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.58&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.59&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.58&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.57&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:6pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.84pt">The value of our real estate investments was greater than the historical cost by 3.6% as of December&#160;31, 2021.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The increase in NAV per share from December&#160;31, 2021 to March&#160;31, 2022, was related to a net increase of 5.9% in the value of our portfolio.  Property operations for the three months ended March 31, 2022 had an insignificant impact on NAV as dividends declared offset property operations for the period.  Our NAV for the different share classes is reduced by normal and recurring class-specific fees and offering and organization costs.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">40</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following are key assumptions (shown on a weighted-average basis) that are used in the discounted cash flow models to estimate the value of our real estate investments as of March&#160;31, 2022:</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.002%"><tr><td style="width:1.0%"></td><td style="width:37.317%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.540%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.519%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.684%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.828%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.396%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.684%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.519%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.688%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Industrial</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Office</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Residential</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Retail</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total<br/>Company</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exit capitalization rate</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.44&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.30&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.39&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.49&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.25&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.71&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Discount rate/internal rate of return (IRR)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.60&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.16&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.86&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.36&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.80&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.91&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Annual market rent growth rate</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.44&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.86&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.30&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.76&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.07&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.20&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Holding period (years)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.00&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.00&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.00&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.00&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21.68&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.08&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:6pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)&#160;&#160;&#160;&#160;Other includes two standalone parking garages.  South Beach Parking Garage is subject to a ground lease and the appraisal incorporates discounted cash flows over its remaining lease term and therefore does not utilize an exit capitalization rate.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following are key assumptions (shown on a weighted-average basis) that are used in the discounted cash flow models to estimate the value of our real estate investments as of December&#160;31, 2021:</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.649%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.444%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.512%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.586%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.729%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.586%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.512%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.586%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.512%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.590%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Industrial</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Office</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Residential</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Retail</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total<br/>Company</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exit capitalization rate</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.61&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.54&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.51&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.49&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.25&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.85&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Discount rate/internal rate of return (IRR)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.62&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.32&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.94&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.42&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.80&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.99&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Annual market rent growth rate</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.30&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.77&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.31&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.74&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.07&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.14&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Holding period (years)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.00&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.00&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.00&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.00&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21.83&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.09&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:6pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)&#160;&#160;&#160;&#160;Other includes Chicago and South Beach parking garages.  South Beach Parking Garage is subject to a ground lease, the appraisal incorporates discounted cash flows over its remaining lease term and therefore does not utilize an exit capitalization rate.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While we believe our assumptions are reasonable, a change in these assumptions would impact the calculation of the value of our real estate investments. For example, assuming all other factors remain unchanged, the changes listed below would result in the following effects on our real estate investment value:</span></div><div style="margin-bottom:5pt;margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.715%"><tr><td style="width:1.0%"></td><td style="width:49.328%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.514%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.042%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.514%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.042%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.514%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.046%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Input</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December&#160;31, 2021</span></div></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Discount Rate - weighted average</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25% increase</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.8)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.7)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exit Capitalization Rate - weighted average</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25% increase</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3.2)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.8)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Annual market rent growth rate - weighted average</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25% decrease</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.4)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.2)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of our mortgage notes and other debt payable was estimated to be approximately $67,899 lower and $4,054 higher than the carrying values at March&#160;31, 2022 and December&#160;31, 2021, respectively. The NAV per share would have increased by $0.31 and decreased by $0.02 per share at March&#160;31, 2022 and December&#160;31, 2021, respectively, if we were to have included the fair value of our mortgage notes and other debt payable in our methodology to determine NAV.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The selling commission and dealer manager fee are offering costs and are recorded as a reduction of capital in excess of par value.  Selling commissions are paid on the date of sale of our common stock.  We accrue all future dealer manager fees up to the ten percent regulatory limit on the date of sale of our common stock.  For NAV calculation purposes, dealer manger fees are accrued daily, on a continuous basis equal to 1/365th of the stated fee.  Dealer manager fees payable are included in accrued offering costs on our Consolidated Balance Sheets.&#160; Dealer manager fees payable as of March&#160;31, 2022 and December&#160;31, 2021 were $152,529 and $135,663, respectively.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">41</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table reconciles stockholders' equity per our Consolidated Balance Sheet to our NAV:</span></div><div style="margin-bottom:5pt;margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.857%"><tr><td style="width:1.0%"></td><td style="width:79.927%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.873%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">March 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Stockholders' equity under GAAP</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,919,120&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Adjustments:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accrued dealer manager fees </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">151,016&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Organization and offering costs </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">698&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unrealized real estate appreciation </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">816,793&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accumulated depreciation, amortization and other </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">346,316&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NAV</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,233,943&#160;</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="margin-top:5pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)&#160;&#160;&#160;&#160;Accrued dealer manager fees represents the accrual for future dealer manager fees for Class A, Class M and Class A-I shares. We accrue all future dealer manager fees up to the ten percent regulatory limit on the date of sale of our common stock as an offering cost.&#160; For NAV calculation purposes, dealer manger fees are accrued daily, on a continuous basis equal to 1/365th of the stated fee.  </span></div><div style="margin-top:5pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2)&#160;&#160;&#160;&#160;The Advisor advanced organization and offering costs on our behalf through March&#160;31, 2022. Such costs are reimbursed to the Advisor ratably over 36 months. Under GAAP, organization costs are expensed as incurred and offering costs are charged to equity as such amounts are incurred. For NAV, such costs are recognized as a reduction to NAV ratably over 36 months.</span></div><div style="margin-top:5pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3)&#160;&#160;&#160;&#160;Our investments in real estate are presented under historical cost in our GAAP Consolidated Financial Statements. As such, any increases in the fair market value of our investments in real estate are not included in our GAAP results. For purposes of determining our NAV, our investments in real estate are recorded at fair value.</span></div><div style="margin-top:5pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4)&#160;&#160;&#160;&#160;We depreciate our investments in real estate and amortize certain other assets and liabilities in accordance with GAAP. Such depreciation and amortization is not recorded for purposes of determining our NAV.  Additionally, we make other fair value adjustments to our NAV to account for differences with historical cost GAAP; an example would be straight-line rent revenue. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Limitations and Risks</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As with any valuation methodology, our methodology is based upon a number of estimates and assumptions that may not be accurate or complete.  Our valuation methodology may not result in the determination of the fair value of our net assets as our mortgage notes and other debt payable are valued at cost.  Different parties with different assumptions and estimates could derive a different NAV per share. Accordingly, with respect to our NAV per share, we can provide no assurance that:</span></div><div style="margin-top:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">a stockholder would be able to realize this NAV per share upon attempting to resell his or her shares;</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">we would be able to achieve for our stockholders the NAV per share upon a listing of our shares of common stock on a national securities exchange, selling our real estate portfolio or merging with another company; or</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the NAV per share, or the methodologies relied upon to estimate the NAV per share, will be found by any regulatory authority to comply with any regulatory requirements.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, the NAV per share was calculated as of a particular point in time. The NAV per share will fluctuate over time in response to, among other things, changes in real estate market fundamentals, capital markets activities and attributes specific to the properties and leases within our portfolio.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">42</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_112"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Liquidity and Capital Resources </span></div><div style="margin-top:9pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our primary uses and sources of cash are as follows: </span></div><div style="margin-top:10pt;text-align:center;text-indent:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:0.1%"></td><td style="width:2.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.484%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.703%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:44.729%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Uses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Sources</span></td></tr><tr style="height:14pt"><td colspan="6" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Short-term liquidity and capital needs such as:</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Operating cash flow, including the receipt of distributions of our share of cash flow produced by our unconsolidated real estate affiliates and fund investment</span></td></tr><tr style="height:17pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest payments on debt</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:18pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Distributions to stockholders</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds from secured loans collateralized by individual properties</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fees payable to our Advisor</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Minor improvements made to individual properties that are not recoverable through expense recoveries or common area maintenance charges to tenants</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds from our Revolving Credit Facility</span></td></tr><tr style="height:21pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Sales of our shares</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General and administrative costs</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Sales of real estate investments</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Costs associated with capital raising in our continuous public offering, private offering and DST Program</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds from our private offering </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other Company level expenses</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Draws from lender escrow accounts</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lender escrow accounts for real estate taxes, insurance, and capital expenditures</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Sales of beneficial interests in the DST Program</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fees payable to our Dealer Manager</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Longer-term liquidity and capital needs such as:</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisitions of new real estate investments</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expansion of existing properties</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Tenant improvements and leasing commissions</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt repayment requirements, including both principal and interest</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repurchases of our shares pursuant to our share repurchase plan</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fees payable to our Advisor</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fees payable to our Dealer Manager</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sources and uses of cash for the three months ended March 31, 2022 and 2021 were as follows:</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:53.432%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.835%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.689%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.184%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$ Change</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash (used in) provided by operating activities</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" sign="-" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMTIvZnJhZzpjZDFmYzA4MDgwNTA0MTllYjA5ZTc4NGQ2YjcyOGI0ZS90YWJsZTpiODQyMzBmYjJmNWU0YTI3OGVlMzJkMzIzNWRjMDhjMC90YWJsZXJhbmdlOmI4NDIzMGZiMmY1ZTRhMjc4ZWUzMmQzMjM1ZGMwOGMwXzEtMS0xLTEtNzI3MjY_3daa57b7-d31e-414f-a7f4-b3d51e16e1d3">13,731</ix:nonFraction>)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17,172&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(30,903)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash used in investing activities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" sign="-" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMTIvZnJhZzpjZDFmYzA4MDgwNTA0MTllYjA5ZTc4NGQ2YjcyOGI0ZS90YWJsZTpiODQyMzBmYjJmNWU0YTI3OGVlMzJkMzIzNWRjMDhjMC90YWJsZXJhbmdlOmI4NDIzMGZiMmY1ZTRhMjc4ZWUzMmQzMjM1ZGMwOGMwXzItMS0xLTEtNzI3MjY_02444067-a808-4e69-a3ee-d18ae5d566e0">84,689</ix:nonFraction>)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(166,868)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">82,179&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash provided by financing activities</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i2eef3035bb8f4b94bf035c7bc4f5c001_D20220101-20220331" decimals="-3" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjRjOTE1OGRiN2NlZDQ0YTI5ODkzZmY3YTdhNmUxMWNkL3NlYzo0YzkxNThkYjdjZWQ0NGEyOTg5M2ZmN2E3YTZlMTFjZF8xMTIvZnJhZzpjZDFmYzA4MDgwNTA0MTllYjA5ZTc4NGQ2YjcyOGI0ZS90YWJsZTpiODQyMzBmYjJmNWU0YTI3OGVlMzJkMzIzNWRjMDhjMC90YWJsZXJhbmdlOmI4NDIzMGZiMmY1ZTRhMjc4ZWUzMmQzMjM1ZGMwOGMwXzMtMS0xLTEtNzI3MjY_b485c7b8-e5f7-4d18-8dfa-35f5cefb0b8f">162,514</ix:nonFraction>&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">121,042&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41,472&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net cash (used in) provided by operating activities decreased by $30,900 for the three months ended March 31, 2022 as compared to the same period in 2021.  The decrease in cash from operating activities is primarily due to the payment of the performance fee earned in 2021 in the amount of $36,711 offset by increase in cash from new acquisitions as well as increased rent collections from several tenants primarily in our retail segment.  </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net cash used in investing activities decreased by $82,179 for the three months ended March 31, 2022 as compared to the same period in 2021.  The decrease was primarily related to decreased acquisitions made during the three months ended March 31, 2022 as compared to the same period in 2021.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net cash provided by financing activities decreased by $41,469 for the three months ended March 31, 2022 as compared to the same period in 2021.  The change is primarily related to an increase of $65,796 in stock issuance during the three months ended March 31, 2022 as compared to the same period in 2021. Offsetting the increase was $29,252 less of net proceeds from mortgage notes and other debt payment during the three months ended March 31, 2022 as compared to the same period in 2021.</span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">43</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_115"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Financing</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have relied primarily on fixed-rate financing, locking in what were favorable spreads between real estate income yields and mortgage interest rates and have tried to maintain a balanced schedule of debt maturities. We also use interest rate derivatives to manage our exposure to interest rate movements on our variable rate debt. The following consolidated debt table provides information on the outstanding principal balances and the weighted average interest rates at March&#160;31, 2022 and December&#160;31, 2021:</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.519%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.718%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidated Debt</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">March 31, 2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Principal<br/>Balance</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Interest&#160;Rate</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Principal<br/>Balance</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Interest&#160;Rate</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,322,079&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.33&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,268,220&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.37&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Variable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">496,400&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.91&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">551,400&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.71&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,818,479&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.94&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,819,620&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.86&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Covenants</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At March&#160;31, 2022, we were in compliance with all debt covenants.   </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other Sources</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2021, our Current Public Offering registration statement was declared effective with the SEC (Commission File No. 333-256823) to register up to $3,000,000 in any combination of shares of our Class A, Class M, Class A-I and Class M-I common stock, consisting of up to $2,700,000 of shares offered in our primary offering and up to $300,000 in shares offered pursuant to our distribution reinvestment plan. We intend to offer shares of our common stock on a continuous basis for an indefinite period of time by filing a new registration statement before the end of each three-year offering period, subject to regulatory approval. We intend to use the net proceeds from the Current Public Offering, which are not used to pay the fees and other expenses attributable to our operations, to (1)&#160;grow and further diversify our portfolio by making investments in accordance with our investment strategy and policies, (2)&#160;repay indebtedness incurred under various financing instruments and (3)&#160;fund repurchases under our share repurchase plan. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 3, 2015, we commenced the Private Offering of up to $350,000 in shares of our Class D common stock with an indefinite duration. Proceeds from our Private Offering will be used for the same corporate purposes as the proceeds of our public offerings.  We will reserve the right to terminate the Private Offering at any time and to extend the Private Offering term to the extent permissible under applicable law.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 16, 2019, we&#160;through our operating partnership, initiated the DST Program to raise up to $500,000, which our board of directors increased to $1,000,000 on August 10, 2021, in private placements exempt from registration under the Securities Act, as amended, through the sale of beneficial interests to accredited investors in specific DSTs holding real properties, which may be sourced from our real properties or from third parties. </span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_118"></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Contractual Cash Obligations and Commitments</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From time to time, we enter into contingent agreements for the acquisition and financing of properties.  Such acquisitions and financings are subject to satisfactory completion of due diligence or meeting certain leasing or occupancy thresholds. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are subject to fixed ground lease payments on South Beach Parking Garage of $112 per year until September 30, 2024 and these payments will increase every five years thereafter by the lesser of 12% or the cumulative CPI over the previous five year period. We are also subject to a variable ground lease payment calculated as 2.5% of revenue. The lease expires September 30, 2041 and has a ten-year renewal option.  </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operating agreement for Grand Lakes Marketplace allows the unrelated third party joint venture partner, owning a 10% interest, to put its interest to us at a market determined value. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operating agreement for 237 Via Vera Cruz, 13500 Danielson Street, 4211 Starboard, 2840, Loaker Avenue and 15890 Bernardo Center Drive allows the unrelated third party joint venture partner, owning a 5% interest, to put its interest to us at a market determined value starting July 31, 2024.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operating agreement for Presley Uptown allows the unrelated third party joint venture partner, owning a 2.5% interest, to put its interest to us at a market determined value starting September 30, 2022 until September 30, 2024. </span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">44</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:14pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Off Balance Sheet Arrangements</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">None.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_121"></div><div style="margin-top:14pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Distributions to Stockholders</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To remain qualified as a REIT for federal income tax purposes, we must distribute or pay tax on 100% of our capital gains and distribute at least 90% of ordinary taxable income to stockholders.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following factors, among others, will affect operating cash flow and, accordingly, influence the decisions of our board of directors regarding distributions:</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">scheduled increases in base rents of existing leases;</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">changes in minimum base rents and/or overage rents attributable to replacement of existing leases with new or renewal leases;</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">changes in occupancy rates at existing properties and procurement of leases for newly acquired or developed properties;</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">necessary capital improvement expenditures or debt repayments at existing properties;</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">ability of our tenants to pay rent as a result of the impact of COVID-19 on their financial condition; and</span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">our share of distributions of operating cash flow generated by the unconsolidated real estate affiliates, less management costs and debt service on additional loans that have been or will be incurred.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We anticipate that operating cash flow, cash on hand, proceeds from dispositions of real estate investments or refinancings will provide adequate liquidity to conduct our operations, fund general and administrative expenses, fund operating costs and interest payments and allow distributions to our stockholders in accordance with the REIT qualification requirements of the Internal Revenue Code of 1986, as amended.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_124"></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:83.918%"><tr><td style="width:1.0%"></td><td style="width:11.966%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:85.834%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item&#160;3.</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Quantitative and Qualitative Disclosures About Market Risk.</span></div></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are subject to market risk associated with changes in interest rates in terms of our variable-rate debt and the price of new fixed-rate debt for refinancing of existing debt. We manage our interest rate risk exposure by obtaining fixed-rate loans where possible as well as by entering into interest rate cap and swap agreements. As of March&#160;31, 2022, we had consolidated debt of $1,818,479. Including the $1,523 net debt discount on assumed debt and debt issuance costs, we have consolidated debt of $1,816,956 at March&#160;31, 2022. We also entered into interest rate swap agreements on $190,000 of debt, which cap the LIBOR rate at between 1.4% and 2.6%. A 0.25% movement in the interest rate on the $496,400 of variable-rate debt would have resulted in a $1,241 annualized increase or decrease in consolidated interest expense and cash flow from operating activities.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are subject to interest rate risk with respect to our fixed-rate financing in that changes in interest rates will impact the fair value of our fixed-rate financing. To determine fair market value, the fixed-rate debt is discounted at a rate based on an estimate of current lending rates, assuming the debt is outstanding through maturity and considering the collateral. At March&#160;31, 2022, the fair value of our consolidated debt was estimated to be $67,899 lower than the carrying value of $1,818,479 If treasury rates were 0.25% higher as of March&#160;31, 2022, the fair value of our consolidated debt would have been $72,029 lower than the carrying value. </span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_130"></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:87.920%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item&#160;4.</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Controls and Procedures.</span></div></td></tr></table></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Evaluation of Disclosure Controls and Procedures</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), as of the end of the period covered by this report. Based on management&#8217;s evaluation as of March&#160;31, 2022, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were effective to provide reasonable assurance that the information required to be disclosed by us in our reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC&#8217;s rules and forms and such information is accumulated and </span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">45</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">communicated to management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure. </span></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Changes in Internal Control Over Financial Reporting</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There have not been any changes in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Securities and Exchange Act of 1934, as amended) during the quarter ended&#160;March&#160;31, 2022 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. We have not experienced any material impact to our internal control over financial reporting to date as a result of most of the employees of our Advisor and its affiliates working remotely due to the COVID-19 pandemic.</span></div><div style="margin-top:5pt;text-indent:24.75pt"><span><br/></span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_133"></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PART II</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OTHER INFORMATION</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_136"></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:30.409%"><tr><td style="width:1.0%"></td><td style="width:34.957%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:62.843%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item&#160;1.</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Legal Proceedings.</span></div></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are involved in various claims and litigation matters arising in the ordinary course of business, some of which involve claims for damages. Many of these matters are covered by insurance, although they may nevertheless be subject to deductibles or retentions. Although the ultimate liability for these matters cannot be determined, based upon information currently available, we believe the ultimate resolution of such claims and litigation will not have a material adverse effect on our financial position, results of operations or liquidity.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_139"></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:30.409%"><tr><td style="width:1.0%"></td><td style="width:34.957%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:62.843%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item&#160;1A.</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Risk Factors.</span></div></td></tr></table></div><div style="margin-top:9pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There have been no material changes to the risk factors previously disclosed under "Item 1A. Risk Factors" 2021 Form 10-K.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_142"></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:82.309%"><tr><td style="width:1.0%"></td><td style="width:12.221%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:85.579%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Item&#160;2.</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Unregistered Sales of Equity Securities and Use of Proceeds. </span></td></tr></table></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Issuer Purchases of Equity Securities</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our share repurchase plan limits repurchases during any calendar quarter to shares with an aggregate value (based on the repurchase price per share on the day the repurchase is effected) of 5% of the combined NAV of all classes of shares as of the last day of the previous calendar quarter, which means that in any 12-month period, we limit repurchases to approximately 20% of our total NAV. If the quarterly volume limitation is reached on or before the third business day of a calendar quarter, repurchase requests during the next quarter will be satisfied on a stockholder by stockholder basis, which we refer to as a &#8220;per stockholder allocation,&#8221; instead of a first-come, first-served basis. Pursuant to the per stockholder allocation, each of our stockholders would be allowed to request repurchase at any time during such quarter of a total number of shares not to exceed 5% of the shares of common stock the stockholder held as of the end of the prior quarter. The per stockholder allocation requirement will remain in effect for each succeeding quarter for which the total repurchases for the immediately preceding quarter exceeded four percent of our NAV on the last business day of such preceding quarter. If total repurchases during a quarter for which the per stockholder allocation applies are equal to or less than four percent of our NAV on the last business day of such preceding quarter, then repurchases will again be first-come, first-served for the next succeeding quarter and each quarter thereafter. </span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three months ended March 31, 2022, we repurchased 3,012,118 shares of common stock under the share repurchase plan. </span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:31.648%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.812%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.028%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.057%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Period</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;Number&#160;of Shares&#160;Purchased</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average&#160;Price&#160;Paid per Share</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;Number&#160;of&#160;Shares Purchased as Part of Publicly Announced Plans or Programs</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maximum&#160;Number&#160;of Shares that May Yet Be Purchased Pursuant to the Program (1)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1 - January 31, 2022</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,931,656&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.52&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,931,656&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 1 - February 28, 2022</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">531,858&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.73&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">531,858&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">March 1 - March 31, 2022</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">548,604&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.29&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">548,604&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,012,118&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.70&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,012,118&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">________</span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">46</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="margin-bottom:1.5pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)&#160;&#160;&#160;&#160; Repurchases are limited as described above.&#160;</span></div><div style="margin-top:14pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Unregistered Sales of Equity Securities</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 3, 2015, we commenced the Private Offering of up to $350,000 in shares of our Class D common stock with an indefinite duration. No Class D shares were issued during the three months ended March&#160;31, 2022.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_145"></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:48.976%"><tr><td style="width:1.0%"></td><td style="width:21.288%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:76.512%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 3.</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Defaults Upon Senior Securities.</span></div></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_148"></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:76.315%"><tr><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:84.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item&#160;4.</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mine Safety Disclosures.</span></div></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_151"></div><div style="margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:34.210%"><tr><td style="width:1.0%"></td><td style="width:30.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:66.849%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 5.</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other Information.</span></div></td></tr></table></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">None.</span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">47</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_154"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="-sec-extract:summary;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:36.842%"><tr><td style="width:1.0%"></td><td style="width:28.661%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:69.139%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 6.</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibits.</span></div></td></tr></table></div><div style="margin-top:8pt;text-align:center;text-indent:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:9.929%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.535%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:87.136%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%;text-decoration:underline">Exhibit&#160;No.</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%;text-decoration:underline">Description</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="exhibit3111q22.htm">31.1</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">*</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="exhibit3121q22.htm">31.2</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">*</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="exhibit3211q22.htm">32.1</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">*</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="exhibit3221q22.htm">32.2</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">*</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.INS*</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">XBRL Instance Document</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.SCH*</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">XBRL Schema Document</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.CAL*</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">XBRL Calculation Linkbase Document</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.DEF*</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Definition Linkbase Document</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.LAB*</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">XBRL Labels Linkbase Document</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.PRE*</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">XBRL Presentation Linkbase Document</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104*</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cover Page Intereactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in Exhibits 101)</span></td></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">__________</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">*&#160;&#160;&#160;&#160;Filed herewith.</span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary;margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">48</span></div></div></div><div id="i4c9158db7ced44a29893ff7a7a6e11cd_157"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div style="margin-top:6pt;text-align:center;text-indent:22.5pt"><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of Section&#160;13 or 15(d) of the Securities Exchange Act of 1934, the Registrant, Jones Lang LaSalle Income Property Trust, Inc., has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</span></div><div style="margin-top:8pt;text-align:right;text-indent:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:406.50pt"><tr><td style="width:1.0pt"></td><td style="width:25.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:84.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:19.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:268.75pt"></td><td style="width:1.0pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">JONES LANG LASALLE INCOME PROPERTY TRUST, INC.</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date: </span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">May 16, 2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By:</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">/s/&#160;C. Allan Swaringen</span></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">C. Allan Swaringen</span></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">President, Chief Executive Officer</span></td></tr></table></div><div style="margin-top:14pt;text-align:right"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:406.50pt"><tr><td style="width:1.0pt"></td><td style="width:25.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:84.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:19.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:268.75pt"></td><td style="width:1.0pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">JONES LANG LASALLE INCOME PROPERTY TRUST, INC.</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date: </span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">May 16, 2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By:</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">/s/&#160;Gregory A. Falk</span></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gregory A. Falk</span></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Chief Financial Officer and Treasurer</span></td></tr></table></div><div style="margin-top:6pt;text-align:right;text-indent:22.5pt"><span><br/></span></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">49</span></div></div></div></body></html>
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jllipt-20220331
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________________
FORM
10-Q
_________________________________
☒
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended
March 31, 2022
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                    to
Commission file number:
000-51948
_________________________________
Jones Lang LaSalle Income Property Trust, Inc.
(Exact name of registrant as specified in its charter)
_________________________________
Maryland
20-1432284
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification Number)
333 West Wacker Drive
,
Chicago
IL
,
60606
(Address of principal executive offices, including Zip Code)
(
312
)
897-4000
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
_________________________________
Securities registered pursuant to Section 12(b) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes
☑
NO
☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes
☑
NO
☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☑
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).      YES
☐
NO
☑
The number of shares of the registrant's Common Stock, $.01 par value, outstanding on May 16, 2022 were
105,696,898
shares of Class A Common Stock,
23,755,997
shares of Class M Common Stock,
5,930,623
shares of Class A-I Common Stock,
84,744,571
shares of Class M-I Common Stock and
6,041,611
shares of Class D Common Stock.
Jones Lang LaSalle Income Property Trust, Inc.
INDEX
PAGE
NUMBER
Part I - FINANCIAL INFORMATION
Item 1. Financial Statements
3
Consolidated Balance Sheets as of
March
3
1
, 202
2
(unaudited) and December 31, 202
1
3
Consolidated Statements of Operations for the three
months ended
March
3
1
, 202
2
and 202
1
(unaudited)
4
Consolidated Statements of Equity for the three
months
ended
March
3
1
, 202
2
and 202
1
(unaudited)
5
Consolidated Statements of Cash Flows for the
three
months ended
March
3
1
, 202
2
and 202
1
(unaudited)
6
Notes to Consolidated Financial Statements (unaudited)
7
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
24
Item 3. Quantitative and Qualitative Disclosures About Market Risk
45
Item 4. Controls and Procedures
45
Part II - OTHER INFORMATION
Item 1. Legal Proceedings
46
Item 1A. Risk Factors
46
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
46
Item 3. Defaults Upon Senior Securities
47
Item 4. Mine Safety Disclosures
47
Item 5. Other Information
47
Item 6. Exhibits
48
SIGNATURES
49
2
Item 1. Financial Statements.
Jones Lang LaSalle Income Property Trust, Inc.
CONSOLIDATED BALANCE SHEETS
$ in thousands, except per share amounts
March 31, 2022
December 31, 2021
ASSETS
(Unaudited)
Investments in real estate:
Land (including from VIEs of $
59,006
and $
59,006
, respectively)
$
609,217
$
598,564
Buildings and equipment (including from VIEs of $
206,360
and $
206,016
, respectively)
3,150,267
3,010,359
Less accumulated depreciation (including from VIEs of $(
28,193
) and $(
26,955
), respectively)
(
277,859
)
(
259,362
)
Net property and equipment
3,481,625
3,349,561
Investment in unconsolidated real estate affiliates
217,070
217,044
Real estate fund investments
376,813
352,905
Investments in real estate and other assets held for sale
—
39,326
Net investments in real estate
4,075,508
3,958,836
Investment in marketable securities
40,599
43,206
Cash and cash equivalents (including from VIEs of $
6,678
and $
6,740
, respectively)
124,415
70,273
Restricted cash (including from VIEs of $
484
and $
859
, respectively)
61,161
51,203
Tenant accounts receivable, net (including from VIEs of $
2,808
and $
1,850
, respectively)
8,817
9,066
Deferred expenses, net (including from VIEs of $
536
and $
533
, respectively)
15,001
14,511
Acquired intangible assets, net (including from VIEs of $
11,254
and $
12,500
, respectively)
204,677
216,227
Deferred rent receivable, net (including from VIEs of $
1,103
and $
1,135
, respectively)
27,289
25,634
Prepaid expenses and other assets (including from VIEs of $
325
and $
284
, respectively)
18,760
13,290
TOTAL ASSETS
$
4,576,227
$
4,402,246
LIABILITIES AND EQUITY
Mortgage notes and other debt payable, net (including from VIEs of $
146,985
and $
147,076
, respectively)
$
1,816,956
$
1,817,664
Liabilities held for sale
—
271
Accounts payable and other liabilities (including from VIEs of $
2,375
and $
2,477
, respectively)
70,578
70,551
Financing obligation
458,207
448,319
Accrued offering costs
154,773
137,776
Accrued interest (including from VIEs of $
389
and $
368
, respectively)
3,340
3,321
Accrued real estate taxes (including from VIEs of $
612
and $
679
, respectively)
11,385
9,497
Advisor fees payable
11,877
39,709
Acquired intangible liabilities, net (including from VIEs of $
510
and $
541
, respectively)
29,855
31,022
TOTAL LIABILITIES
2,556,971
2,558,130
Commitments and contingencies
—
—
Redeemable noncontrolling interests
6,970
—
Equity:
Class A common stock: $
0.01
par value;
200,000,000
shares authorized;
104,576,961
and
100,038,362
shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively
1,046
1,000
Class M common stock: $
0.01
par value;
200,000,000
shares authorized;
37,681,185
and
36,458,191
shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively
377
365
Class A-I common stock: $
0.01
par value;
200,000,000
shares authorized;
9,335,732
and
9,356,309
shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively
93
94
Class M-I common stock: $
0.01
par value;
200,000,000
shares authorized;
61,681,208
and
52,676,693
shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively
617
527
Class D common stock: $
0.01
par value;
200,000,000
shares authorized;
6,041,611
and
7,513,281
shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively
60
75
Additional paid-in capital (net of offering costs of $
286,136
and $
264,066
as of March 31, 2022 and December 31, 2021, respectively)
2,448,952
2,284,839
Distributions to stockholders
(
601,310
)
(
573,963
)
Retained earnings
69,285
34,398
Total Jones Lang LaSalle Income Property Trust, Inc. stockholders' equity
1,919,120
1,747,335
Noncontrolling interests
93,166
96,781
Total equity
2,012,286
1,844,116
TOTAL LIABILITIES AND EQUITY
$
4,576,227
$
4,402,246
The abbreviation "VIEs" above means consolidated Variable Interest Entities.
See notes to consolidated financial statements.
3
Jones Lang LaSalle Income Property Trust, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
$ in thousands, except share and per share amounts
(Unaudited)
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
Revenues:
Rental revenue
$
74,955
$
50,731
Other revenue
2,216
1,850
Total revenues
77,171
52,581
Operating expenses:
Real estate taxes
11,311
8,086
Property operating expenses
14,001
9,911
Property general and administrative
697
660
Advisor fees
17,858
6,325
Company level expenses
1,074
1,193
Depreciation and amortization
32,974
19,945
Total operating expenses
77,915
46,120
Other income (expenses):
Interest expense
(
17,852
)
(
9,262
)
Income (loss) from unconsolidated real estate affiliates and fund investments
29,025
(
339
)
Investment income on marketable securities
304
—
Net realized gain upon sale of marketable securities
79
—
Net unrealized change in fair value of investment in marketable securities
(
2,984
)
—
Gain on disposition of property and extinguishment of debt, net
31,492
33,422
Total other income and (expenses)
40,064
23,821
Net income
39,320
30,282
Less: Net income attributable to the noncontrolling interests
(
1,385
)
(
177
)
Net income attributable to Jones Lang LaSalle Income Property Trust, Inc.
$
37,935
$
30,105
Net income attributable to Jones Lang LaSalle Income Property Trust, Inc. per share-basic and diluted:
Class A
0.18
0.17
Class M
0.18
0.17
Class A-I
0.18
0.17
Class M-I
0.18
0.17
Class D
0.18
0.17
Weighted average common stock outstanding-basic and diluted
212,104,884
174,765,072
See notes to consolidated financial statements.
4
Jones Lang LaSalle Income Property Trust, Inc.
CONSOLIDATED STATEMENTS OF EQUITY
$ in thousands, except share and per share amounts (Unaudited)
Common Stock
Additional Paid
In Capital
Distributions to
Stockholders
Retained Earnings / (Accumulated Deficit)
Noncontrolling
Interests
Total
Equity
Shares
Amount
Balance, January 1, 2021
173,104,467
$
1,731
$
1,922,136
$
(
481,760
)
$
(
14,723
)
$
20,039
$
1,447,423
Issuance of common stock
8,758,984
87
102,928
—
—
—
103,015
Repurchase of shares
(
3,830,592
)
(
38
)
(
44,756
)
—
—
—
(
44,794
)
Conversion of shares
(
342
)
—
—
—
—
—
—
Offering costs
—
—
(
6,246
)
—
—
—
(
6,246
)
Stock based compensation
16,000
—
189
—
—
—
189
Net income
—
—
—
—
30,105
177
30,282
Cash distributed to noncontrolling interests
—
—
—
—
—
(
194
)
(
194
)
Distributions declared per share ($
0.135
)
—
—
—
(
21,621
)
—
—
(
21,621
)
Balance, March 31, 2021
178,048,517
$
1,780
$
1,974,251
$
(
503,381
)
$
15,382
$
20,022
$
1,508,054
Balance, January 1, 2022
206,042,836
$
2,061
$
2,284,839
$
(
573,963
)
$
34,398
$
96,781
$
1,844,116
Issuance of common stock
16,263,717
162
227,089
—
—
—
227,251
Repurchase of shares
(
3,012,118
)
(
30
)
(
41,236
)
—
—
—
(
41,266
)
Conversion of shares
(
96
)
—
—
—
—
—
—
Offering costs
—
—
(
22,070
)
—
—
—
(
22,070
)
Stock based compensation
22,358
—
330
—
—
—
330
Net income
—
—
—
—
37,935
1,385
39,320
Cash distributed to noncontrolling interests
—
—
—
—
—
(
1,078
)
(
1,078
)
Allocation to redeemable noncontrolling interests
—
—
—
—
(
3,048
)
(3,922)
(6,970)
Distributions declared per share ($
0.140
)
—
—
—
(
27,347
)
—
—
(
27,347
)
Balance, March 31, 2022
219,316,697
$
2,193
$
2,448,952
$
(
601,310
)
$
69,285
$
93,166
$
2,012,286
See notes to consolidated financial statements.
5
Jones Lang LaSalle Income Property Trust, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in thousands (Unaudited)
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
$
39,320
$
30,282
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization
32,719
19,630
Gain on disposition of property and extinguishment of debt
(
31,492
)
(
33,422
)
Net realized gain upon sale of marketable securities
(
79
)
—
Net unrealized loss in fair value of marketable securities
2,984
—
Straight line rent
(
1,646
)
(
129
)
(Income) loss from unconsolidated real estate affiliates and fund investments
(
29,025
)
339
Distributions from unconsolidated real estate affiliates and fund investments
5,097
1,850
Net changes in assets, liabilities and other
(
31,609
)
(
1,378
)
Net cash (used in) provided by operating activities
(
13,731
)
17,172
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of real estate investments
(
153,896
)
(
226,925
)
Proceeds from sale of real estate investments and fixed assets
74,602
66,992
Capital improvements and lease commissions
(
3,740
)
(
3,758
)
Investment in unconsolidated real estate affiliates
(
7
)
(
677
)
Deposits for investments under contract
(
1,350
)
(
2,500
)
Investment in marketable securities
(
4,646
)
—
Proceeds from sale of marketable securities
4,348
—
Net cash used in investing activities
(
84,689
)
(
166,868
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock
217,977
152,181
Repurchase of shares
(
41,266
)
(
44,794
)
Offering costs
(
2,273
)
(
3,840
)
Distributions to stockholders
(
9,681
)
(
7,887
)
Distributions paid to noncontrolling interests
(
1,078
)
(
194
)
Deposits for loan commitments
—
(
2,093
)
Draws on credit facility
110,000
140,000
Payment on credit facility
(
205,000
)
(
100,000
)
Proceeds from mortgage notes and other debt payable
95,800
70,030
Debt issuance costs
(
18
)
(
436
)
Payment on early extinguishment of debt
—
—
Principal payments on mortgage notes and other debt payable
(
1,947
)
(
81,925
)
Net cash provided by financing activities
162,514
121,042
Net increase in cash, cash equivalents and restricted cash
64,094
(
28,654
)
Cash, cash equivalents and restricted cash at the beginning of the period
121,482
101,434
Cash, cash equivalents and restricted cash at the end of the period
$
185,576
$
72,780
Reconciliation of cash, cash equivalents and restricted cash shown per Consolidated Balance Sheets to cash, cash equivalents and restricted cash per Consolidated Statements of Cash Flows
Cash and cash equivalents
$
124,415
$
41,345
Restricted cash
61,161
31,435
Cash, cash equivalents and restricted cash at the end of the period
$
185,576
$
72,780
Supplemental disclosure of cash flow information:
Interest paid
$
12,877
$
8,696
Non-cash activities:
Write-offs of receivables
$
(
75
)
$
(
4
)
Write-offs of retired assets and liabilities
2,539
1,382
Change in liability for capital expenditures
(
344
)
(
888
)
Net liabilities transferred at disposition of real estate investment
396
230
Net liabilities assumed at acquisition
426
320
Change in issuance of common stock receivable and redemption of common stock payable
(
4,819
)
(
355
)
Change in accrued offering costs
19,797
2,406
See notes to consolidated financial statements.
6
Jones Lang LaSalle Income Property Trust, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
$ in thousands, except per share amounts
NOTE 1—ORGANIZATION
General
Except where the context suggests otherwise, the terms "we," "us," "our" and the "Company" refer to Jones Lang LaSalle Income Property Trust, Inc. The terms "Advisor" and "LaSalle" refer to LaSalle Investment Management, Inc.
Jones Lang LaSalle Income Property Trust, Inc. is an externally advised, daily valued perpetual-life real estate investment trust ("REIT") that owns and manages a diversified portfolio of residential, industrial, office, retail and other properties located in the United States. Over time, our real estate portfolio may be further diversified on a global basis through the acquisition of properties outside of the United States and may be complemented by investments in real estate-related debt and equity securities. We were incorporated on
May 28, 2004
under the laws of the State of Maryland. We believe that we have operated in such a manner to qualify to be taxed as a REIT for federal income tax purposes commencing with the taxable year ended December 31, 2004, when we first elected REIT status. As of March 31, 2022, we owned interests in a total of
119
properties and over 4,000 single-family rental houses located in
26
states.
We own all or substantially all of our assets through JLLIPT Holdings, LP, a Delaware limited partnership (our "operating partnership"), of which we are a limited partner and JLLIPT Holdings GP, LLC, our wholly owned subsidiary, is the sole general partner. The use of our operating partnership to hold all or substantially all of our assets is referred to as an Umbrella Partnership Real Estate Investment Trust ("UPREIT").  By using an UPREIT structure, a property owner who desires to defer taxable gain on the disposition of his property may transfer the property to our operating partnership in exchange for limited partnership interests in the operating partnership ("OP Units") and defer taxation of gain until the limited partnership interests are disposed of in a taxable transaction. As of March 31, 2022, we raised aggregate proceeds from the issuance of OP Units in our operating partnership of $
88,925
, and owned directly or indirectly
96.8
% of the OP Units of our operating partnership.  The remaining
3.2
% of the OP Units are held by third parties.
From our inception to March 31, 2022, we have received approximately $
4,210,010
in gross offering proceeds from various public and private offerings of shares of our common stock.  On October 1, 2012,  we commenced our initial public offering of common stock and since that time we have offered shares of our common stock in various public offerings registered with the Securities and Exchange Commission (the "SEC").
On December 21, 2021, our most recent public offering (the "Current Public Offering") of up to $
3,000,000
in any combination of shares of our Class A, Class M, Class A-I and Class M-I common stock was declared effective by the SEC. As of March 31, 2022, we have raised aggregate gross proceeds from the sale of shares of our common stock in our Current Public Offering of $
249,802
. We intend to continue to offer shares of our common stock on a continuous basis for an indefinite period of time by filing a new registration statement before the end of each offering.
In addition to our public offerings, on March 3, 2015, we commenced a private offering (the "Private Offering") of up to $
350,000
in shares of our Class D common stock with an indefinite duration.
As of March 31, 2022
, we have raised aggregate gross proceeds of $
98,188
.  In addition, on October 16, 2019, we, through our operating partnership, initiated a program (the "DST Program") to raise up to $
500,000
, which our board of directors increased to $1,000,000 on August 10, 2021, in private placements exempt from registration under the Securities Act of 1933, as amended, through the sale of beneficial interests to accredited investors in specific Delaware statutory trusts holding real properties ("DST Properties"), which may be sourced from our real properties or from third parties.  As of March 31, 2022, we have raised $
465,408
from our DST Program.
As of March 31, 2022,
104,576,961
shares of Class A common stock,
37,681,185
shares of Class M common stock,
9,335,732
shares of Class A-I common stock,
61,681,208
shares of Class M-I common stock, and
6,041,611
shares of Class D common stock were outstanding and held by a total of
21,336
stockholders.
LaSalle acts as our advisor pursuant to the advisory agreement among us, our operating partnership and LaSalle (the "Advisory Agreement"). The term of our Advisory Agreement expires June 5, 2022, subject to an unlimited number of successive one-year renewals.  Our Advisor, a registered investment advisor with the SEC, has broad discretion with respect to our investment decisions and is responsible for selecting our investments and for managing our investment portfolio pursuant to the terms of the Advisory Agreement. Our executive officers are employees of and compensated by our Advisor. We have no employees, as all operations are managed by our Advisor.
7
LaSalle is a wholly owned, but operationally independent subsidiary of Jones Lang LaSalle Incorporated ("JLL" or our "Sponsor"), a New York Stock Exchange-listed leading professional services firm that specializes in real estate and investment management.  As of March 31, 2022, JLL and its affiliates owned an aggregate of
2,521,801
Class M shares, which were issued for cash at a price equal to the most recently reported net asset value ("NAV") per share as of the purchase date and have a current value of $
37,524
.
NOTE 2—
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation and Principles of Consolidation
The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and include the accounts of our wholly owned subsidiaries, consolidated variable interest entities ("VIE") and the unconsolidated investment in real estate affiliates accounted for under the equity method of accounting. We consider the authoritative guidance of accounting for investments in common stock, investments in real estate ventures, investors accounting for an investee when the investor has the majority of the voting interest but the minority partners have certain approval or veto rights, determining whether a general partner or general partners as a group controls a limited partnership or similar entity when the limited partners have certain rights and the consolidation of VIEs in which we own less than a
100
% interest.  All significant intercompany balances and transactions have been eliminated in consolidation.
Parenthetical disclosures are shown on our Consolidated Balance Sheets regarding the amounts of VIE assets and liabilities that are consolidated. As of March 31, 2022, our VIEs included The District at Howell Mill, Grand Lakes Marketplace, Presley Uptown, 237 Via Vera Cruz, 4211 Starboard Drive, 13500 Danielson Drive, 2840 Loker Ave, and 15890 Bernardo Center Drive due to the joint venture structures and our partners having limited participation rights and no kick-out rights. The creditors of our VIEs do not have general recourse to us.
Noncontrolling interests represent the minority members' proportionate share of equity. At acquisition, the assets, liabilities and noncontrolling interests were measured and recorded at the estimated fair value. Noncontrolling interests will increase for the minority members' share of net income of these entities and contributions and decrease for the minority members' share of net loss and distributions. As of March 31, 2022, noncontrolling interests represented the minority members' proportionate share of the equity of The District at Howell Mill and the operating partnership.
Redeemable noncontrolling interests represent noncontrolling interests which are redeemable at the option of the holder or in circumstances out of our control and therefore are accounted for as temporary equity.  The carrying amount of the redeemable noncontrolling interests is adjusted over time on an accretive basis to reflect the fair value at the time the noncontrolling interest become redeemable by the holder.  Changes in the redemption value of redeemable noncontrolling interest are recorded as an allocation of retained earnings on our Consolidated Statements of Equity.  During the three months ended March 31, 2022, we recorded an allocation from noncontrolling interests to redeemable noncontrolling interests in the amount of $3,922. We have redeemable noncontrolling interest related to Grand Lakes Marketplace, Presley Uptown, 237 Via Vera Cruz, 4211 Starboard Drive, 13500 Danielson Drive, 2840 Loker Ave, and 15890 Bernardo Center Drive as of March 31, 2022.  As of March 31, 2022, $
6,970
related to these third party joint ventures was included in Redeemable noncontrolling interests on our Consolidated Balance Sheet of which $
2,870
is immediately puttable by the holder of the noncontrolling interest.
The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the accounting policies described in the consolidated financial statements and related notes included in our Annual Report on Form 10-K filed with the SEC on March 11, 2022 (our "2021 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The following notes to these interim consolidated financial statements highlight changes to the notes included in the December 31, 2021 audited consolidated financial statements included in our 2021 Form 10-K and present interim disclosures as required by the SEC.
The interim financial data as of March 31, 2022 and for the three months ended March 31, 2022 and 2021 is unaudited. In our opinion, the interim data includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the interim periods.
8
Restricted Cash
Restricted cash includes amounts established pursuant to various agreements for loan escrow accounts, loan commitments and property sale proceeds. When we sell a property, we can elect to enter into a like-kind exchange pursuant to the applicable Internal Revenue Service guidance whereby the proceeds from the sale are placed in escrow with a qualified intermediary until a replacement property can be purchased.  At March 31, 2022, our restricted cash balance on our Consolidated Balance Sheets was primarily related to common stock subscriptions received in advance of the issuance of the common stock and loan escrow amounts.
Deferred Expenses
Deferred expenses consist of lease commissions. Lease commissions are capitalized and amortized over the term of the related lease as a component of depreciation and amortization expense. Accumulated amortization of deferred expenses at March 31, 2022 and December 31, 2021 was $
8,528
and $
8,436
, respectively.
Rental Revenue Recognition
We recognize rental revenue from tenants under operating leases on a straight-line basis over the non-cancelable term of the lease when collectibility of substantially all rents is reasonably assured. Recognition of rental revenue on a straight-line basis includes the effects of rental abatements, lease incentives and fixed and determinable increases in lease payments over the lease term. For leases where collection of substantially all rents is not deemed to be probable, revenue is recorded equal to cash that has been received from the tenant.  We evaluate the collectibility of rents and other receivables at each reporting period based on factors including, among others, tenant's payment history, the financial condition of the tenant, business conditions and trends in the industry in which the tenant operates and economic conditions in the geographic area where the property is located. If evaluation of these factors or others indicates it is not probable we will collect substantially all rent we recognize an adjustment to rental revenue. If our judgment or estimation regarding probability of collection changes we may adjust or record additional rental revenue in the period such conclusion is reached.
Acquisitions
We have allocated a portion of the purchase price of our acquisitions to acquired intangible assets, which include acquired in-place lease intangibles, acquired above-market in-place lease intangibles and acquired ground lease intangibles, which are reported net of accumulated amortization of $
102,523
and $
102,842
at March 31, 2022 and December 31, 2021, respectively, on the accompanying Consolidated Balance Sheets. The acquired intangible liabilities represent acquired below-market in-place leases, which are reported net of accumulated amortization of $
15,445
and $
15,481
at March 31, 2022 and December 31, 2021, respectively, on the accompanying Consolidated Balance Sheets.
Assets and Liabilities Measured at Fair Value
The Financial Accounting Standards Board's ("FASB") guidance for fair value measurement and disclosure states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering assumptions, authoritative guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:
•
Level 1
—Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have access to at the measurement date.
•
Level 2
—Observable inputs, other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.  Level 2 inputs are those in markets for which there are few transactions, the prices are not current, little public information exists or instances where prices vary substantially over time or among brokered market makers.
•
Level 3
—Unobservable inputs for the asset or liability.  Unobservable inputs are those inputs that reflect our own assumptions that market participants would use to price the asset or liability based on the best available information.
The authoritative guidance requires the disclosure of the fair value of our financial instruments for which it is practicable to estimate that value. The guidance does not apply to all balance sheet items. Market information as available or present value techniques have been utilized to estimate the amounts required to be disclosed. Since such amounts are estimates, there can be no assurance that the disclosed value of any financial instrument could be realized by immediate settlement of the instrument.
9
Our investments in marketable securities are valued using Level 1 inputs as the securities are publicly traded on major stock exchanges.
Real estate fund investments accounted for under the fair value option fall within Level 3 of the hierarchy.  The fair value is recorded based upon changes in the NAV of the limited partnership as determined from the financial statements of the real estate fund.  During the three months ended March 31, 2022 and 2021, we recorded a net increase in fair value classified within the Level 3 category of $23,908 and $
1,081
, respectively, which related to our investments in the NYC Retail Portfolio (as defined below) and the Single-family Rental Portfolio (see
Note 4-Unconsolidated Real Estate Affiliates and Fund Investments
).
We have estimated the fair value of our mortgage notes and other debt payable reflected on the Consolidated Balance Sheets at amounts that are based upon an interpretation of available market information and valuation methodologies (including discounted cash flow analysis with regard to fixed rate debt) for similar loans made to borrowers with similar credit ratings and for the same maturities. The fair value of our mortgage notes and other debt payable using Level 2 inputs was $67,899 lower and $
3,794
higher than the aggregate carrying amounts at March 31, 2022 and December 31, 2021, respectively. Such fair value estimates are not necessarily indicative of the amounts that would be realized upon disposition of our mortgage notes payable.
Derivative Financial Instruments
We record all derivatives on the Consolidated Balance Sheets at fair value in prepaid expenses and other assets or accounts payable and other accrued expenses. Changes in the fair value of our derivatives are recorded as a component of interest expense on our Consolidated Statements of Operations as we have not designated our derivative instruments as hedges. Our objective in using interest rate derivatives is to manage our exposure to interest rate movements. To accomplish this objective, we use interest rate swaps.
As of March 31, 2022, we had the following outstanding interest rate derivatives related to managing our interest rate risk:
Interest Rate Derivative
Number of Instruments
Notional Amount
Interest Rate Swaps
5
$
190,000
The fair value of our interest rate swaps represent liabilities of $
595
and $
2,580
at March 31, 2022 and December 31, 2021, respectively.
Investment in Marketable Securities
In accordance with our investment guidelines, investments in marketable securities consist of stock of publicly traded REITs.  The net unrealized change in the fair value of our investments in marketable securities is recorded in earnings as part of net income in accordance with Accounting Standard Update ("ASU") 2016-1, Financial Statements - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities
.
Ground Lease
As of March 31, 2022, we have a single ground lease arrangement for which we are the lessee and recorded a right-of-use asset within prepaid expenses and other assets on our Consolidated Balance Sheets in the amount of $
2,094
and a lease liability within accounts payable and other liabilities on our Consolidated Balance Sheets in the amount of $
2,247
.
Use of Estimates
The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. For example, significant estimates and assumptions have been made with respect to useful lives of assets, recoverable amounts of receivables, fair value of derivatives and real estate assets, initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions. Actual results could differ from those estimates.
10
Recently Issued Accounting Pronouncements
In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) ("ASU 2020-04"), which provides guidance containing practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. We are evaluating the impact of this guidance.
NOTE 3—
PROPERTY
The primary reason we make acquisitions of real estate investments in the industrial, office, residential, retail and other property sectors is to invest capital contributed by stockholders in a diversified portfolio of real estate assets. All references to square footage and units are unaudited.
Acquisitions
On March 30, 2022, we acquired Jefferson Lake Howell, a 384-unit residential property located in Casselberry, Florida for approximately $
154,100
. The acquisition was funded with cash on hand and a draw on our Credit Facility (defined below).
We allocated the purchase price for our 2022 acquisition in accordance with authoritative guidance as follows:
2022 Acquisitions
Land
$
11,200
Building and equipment
140,964
In-place lease intangible (acquired intangible assets)
2,090
$
154,254
Amortization period for intangible assets and liabilities
6
months
Dispositions
On January 6, 2022, we sold Norfleet Distribution Center, a
702,000
square foot industrial property located in Kansas City, Missouri for approximately $
60,375
less closing costs.  We recorded a gain on the sale of the property in the amount of approximately $
34,186
.
On January 24, 2022, we sold The Edge at Lafayette, a
207,000
square foot student housing apartment property located in Lafayette, Louisiana for approximately $
16,500
less closing costs. We recorded a gain on the sale of the property in the amount of approximately $
13
.
NOTE 4—
UNCONSOLIDATED REAL ESTATE AFFILIATES AND FUND INVESTMENTS
In addition to investments in consolidated properties, we may make investments in real estate, which are classified as unconsolidated real estate affiliates under GAAP.  The residential sector includes apartment properties and single-family rental homes.
Unconsolidated Real Estate Affiliates
The following represent our unconsolidated real estate affiliates as of March 31, 2022 and December 31, 2021.
Carrying Amount of Investment
Property
Property Type
Location
Acquisition Date
March 31, 2022
December 31, 2021
Chicago Parking Garage
Other
Chicago, IL
December 23, 2014
$
13,843
$
13,992
Pioneer Tower
Office
Portland, OR
June 28, 2016
102,463
103,529
The Tremont
Residential
Burlington, MA
July 19, 2018
21,360
21,345
The Huntington
Residential
Burlington, MA
July 19, 2018
10,630
10,773
Siena Suwanee Town Center
Residential
Suwanee, GA
December 15, 2020
30,456
30,685
Kingston at McLean Crossing
Residential
McLean, VA
December 3, 2021
38,318
36,720
Total
$
217,070
$
217,044
11
Summarized Combined Statements of Operations—Unconsolidated Real Estate Affiliates—Equity Method Investments
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
Total revenues
$
7,697
$
5,707
Total operating expenses
6,352
6,043
Operating income (loss)
$
1,345
$
(
336
)
Interest expense
(
1,417
)
1,021
Net income (loss)
$
2,762
$
(
1,357
)
Real Estate Fund Investments
NYC Retail Portfolio
On December 8, 2015, a wholly owned subsidiary of ours acquired an approximate
28
% interest in a newly formed limited partnership, Madison NYC Core Retail Partners, L.P., which acquired an approximate
49
% interest in entities that initially owned 15 retail properties located in the greater New York City area (the "NYC Retail Portfolio"), the result of which is that we own an approximate
14
% interest in the NYC Retail Portfolio. The purchase price for such portion was approximately $
85,600
including closing costs. As of March 31, 2022, the NYC Retail Portfolio owned eight retail properties totaling approximately
1,940,000
square feet across urban infill locations in Manhattan, Brooklyn, Queens and New Jersey.
At acquisition we made the election to account for our interest in the NYC Retail Portfolio under the fair value option. We have no unfunded commitments. Our investment in the NYC Retail Portfolio is presented on our Consolidated Balance Sheets within real estate fund investments. Changes in the fair value of our investment as well as cash distributions received are recorded on our Consolidated Statements of Operations within income from unconsolidated real estate affiliates and fund investments.  As of March 31, 2022 and December 31, 2021, the carrying amount of our investment in the NYC Retail Portfolio was $
83,427
and $
84,874
, respectively. During the three months ended March 31, 2022, we recorded a decrease in fair value of our investment in the NYC Retail Portfolio of $
1,447
and received no cash distributions.  During the three months ended March 31, 2021, we recorded an increase in fair value of our investment in the NYC Retail Portfolio of $
1,081
and received no cash distributions.
Single-Family Rental Portfolio
On August 5, 2021, we acquired a
47
% interest in a portfolio of approximately 4,000 stabilized single family rental homes located in various markets across the United States, including Atlanta, Dallas, Phoenix, Nashville and Charlotte, among others (the "Single-Family Rental Portfolio"). The portfolio is encumbered by securitized mortgages in a net amount of approximately $
760,000
maturing in the fourth quarter of 2025 at a weighted average interest rate of
2.1
%. The equity purchase price of our
47
% interest was approximately $
205,000
.  We funded the transaction using cash on hand and a draw on our Revolving Credit Facility.
At acquisition we made the election to account for our interest in the Single-Family Rental Portfolio under the fair value option. As of March 31, 2022 and December 31, 2021, the carrying amount of our investment in the Single-Family Rental Portfolio was $
293,386
and $
268,031
, respectively.  During the three months ended March 31, 2022, we recorded an increase in fair value of our investment in the Single-Family Rental Portfolio of $25,355.  During the three months ended March 31, 2022, we received distributions of income totaling $
2,355
.  This cash distribution of income increased income from unconsolidated real estate affiliates and fund investments.
Summarized Statement of Operations—NYC Retail Portfolio Investment and Single-Family Rental Portfolio—Fair
Value Option Investment
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
Total revenue
$
19,795
$
36
Net investment income (loss)
7,684
(
493
)
Net change in unrealized gain on investment in real estate venture
66,844
3,907
Net income
$
74,528
$
3,414
12
NOTE 5—
MORTGAGE NOTES AND OTHER DEBT PAYABLE
Mortgage notes and other debt payable have various maturities through 2032 and consist of the following:
Mortgage notes and other debt payable
Maturity Date
Interest
Rate
Amount payable as of
March 31, 2022
December 31, 2021
Mortgage notes payable
(1)
June 1, 2023 - March 1, 2032
1.76
% -
5.30
%
$
1,278,479
$
1,184,620
Credit facility
Revolving line of credit
May 25, 2024
1.90
%
205,000
300,000
Bridge loan
June 1, 2022
1.86
%
100,000
100,000
Term loans
May 25, 2024
1.90
% -
3.40
%
235,000
235,000
TOTAL
$
1,818,479
$
1,819,620
Net debt discount on assumed debt and debt issuance costs
(
1,523
)
(
1,956
)
Mortgage notes and other debt payable, net
$
1,816,956
$
1,817,664
________
(1)     During the three months ending March 31, 2022, we entered into the following new mortgage notes payable:
•
On March 1, 2022, we entered into a $
55,800
mortgage payable on Reserve at Venice. The mortgage note bears an interest of
2.98
% and matures on March 1, 2032.
•
On March 1, 2022, we entered into a $
40,000
mortgage payable on Friendship Distribution Center.  The mortgage note bears an interest rate of SOFR plus 1.75% (
2.03
% at March 31, 2022) and matures on March 1, 2029.
Aggregate future principal payments of mortgage notes and other debt payable as of March 31, 2022 are as follows:
Year
Amount
2022
$
105,869
2023
89,890
2024
464,917
2025
192,296
2026
308,023
Thereafter
657,484
Total
$
1,818,479
Credit Facility
On May 24, 2021, we entered into a credit agreement providing for a $
650,000
revolving line of credit and unsecured term loan (collectively, the "Credit Facility") with a syndicate of eight lenders led by JPMorgan Chase Bank, N.A., Bank of America, N.A., PNC Capital Markets LLC and Wells Fargo Bank, N.A. The Credit Facility provides us with the ability, from time to time, to increase the size of the Credit Facility up to a total of $800 million, subject to receipt of lender commitments and other conditions. The $650,000 Credit Facility consists of a $
415,000
revolving credit facility (the "Revolving Credit Facility") and a $
235,000
term loan (the "Term Loan"). The Revolving Credit Facility contains a sublimit of $25,000 for letters of credit. The primary interest rate for the Revolving Credit Facility is based on LIBOR, plus a margin ranging from
1.40
% to
2.10
%, depending on our total leverage ratio. The primary interest rate for the Term Loan is based on LIBOR, plus a margin ranging from
1.35
% to
2.05
%, depending on our total leverage ratio. The maturity date of the Revolving Credit Facility and the Term Loan is
May 24, 2024
.  Based on our current total leverage ratio, we can elect to borrow at LIBOR plus 1.45% and LIBOR plus 1.40% for the Revolving Credit Facility and Term Loan, respectively, or alternatively, we can choose to borrow at a "base rate" equal to (i) the highest of (a) the Federal Funds Rate plus 0.5%, (b) the prime rate announced by JPMorgan Chase Bank, N.A., and (c) LIBOR plus 1.0%, plus (ii) a margin ranging from 0.40% to 1.10% for base rate loans under the Revolving Credit Facility or a margin ranging from 0.35% to 1.05% for base rate loans under the Term Loan. If the "base rate" is less than 1.0%, it will be deemed to be 1.0% for purposes of the Credit Facility. We intend to use the Revolving Credit Facility to cover short-term capital needs, for new property acquisitions and working capital.  We may not draw funds on our Credit Facility if we (i) experience a material adverse effect, which is defined to include, among other things, (a) a material adverse effect on the
13
business, assets, operations or financial condition of the Company taken as a whole; (b) the inability of any loan party to perform any of its obligations under any loan document; or (c) a material adverse effect upon the validity or enforceability of any loan document or (ii) are in default, as that term is defined in the agreement, including a default under certain other loan agreements and/or guarantees entered into by us or our subsidiaries. As of March 31, 2022, we believe no material adverse effects had occurred.  The Credit Facility provides for alternative rate benchmarks in the event that LIBOR is no longer appropriate or available.
On December 10, 2021, we entered into an additional $
100,000
short-term bridge loan (the "Bridge Loan") with JPMorgan Chase Bank, N.A. under the same terms as our Credit Facility.  The Bridge Loan bears interest at the secured overnight financing rate ("SOFR") plus 1.45% to 2.15% depending on our total leverage ratio.  The maturity date of the Bridge Loan is June 10, 2022 and has two, three month extension options. Based on our current total leverage ratio, this borrowing is priced at SOFR plus 1.70%.
Borrowings under the Credit Facility are guaranteed by us and certain of our subsidiaries. The Credit Facility requires the maintenance of certain financial covenants, including: (i) unencumbered property pool leverage ratio; (ii) debt service coverage ratio; (iii) maximum total leverage ratio; (iv) fixed charges coverage ratio; (v) minimum NAV; (vi) maximum secured debt ratio; (vii) maximum secured recourse debt ratio; (viii) maximum permitted investments; and (ix) unencumbered property pool criteria. The Credit Facility provides the flexibility to move assets in and out of the unencumbered property pool during the term of the Credit Facility.
At March 31, 2022, we had $
205,000
outstanding under the Revolving Credit Facility at LIBOR + 1.65%, $
235,000
outstanding under the Term Loan at LIBOR +
1.60
%, and $
100,000
outstanding under the Bridge Loan at SOFR +1.70%.  We swapped the LIBOR portion on $190,000 of our Term Loan to a blended fixed rate of
1.93
% (all in rate of
3.53
% at March 31, 2022) and swapped $90,000 of the Revolving Credit Facility to a fixed rate of
2.64
% (all in rate of
4.04
% at March 31, 2022). The interest rate swap agreements have maturity dates ranging from May 26, 2022 through February 17, 2023.
Covenants
At March 31, 2022, we were in compliance with all debt covenants.
Debt Issuance Costs
Debt issuance costs are capitalized, and presented net of mortgage notes and other debt payable, and amortized over the terms of the respective agreements as a component of interest expense. Accumulated amortization of debt issuance costs at March 31, 2022 and December 31, 2021 was $
8,818
and $
8,024
, respectively.
14
NOTE 6—
COMMON STOCK
We have five classes of common stock: Class A, Class M, Class A-I, Class M-I, and Class D.  The fees payable to LaSalle Investment Management Distributors, LLC, an affiliate of our Advisor and the dealer manager for our offerings (the "Dealer Manager"), with respect to each outstanding share of each class, as a percentage of NAV, are as follows:
Selling Commission
(1)
Dealer Manager Fee
(2)
Class A Shares
up to 3.0%
0.85%
Class M Shares
—
0.30%
Class A-I Shares
up to 1.5%
0.30%
Class M-I Shares
—
None
Class D Shares
(3)
up to 1.0%
None
________
(1)     Selling commissions are paid on the date of sale of our common stock.
(2)     We accrue all future dealer manager fees up to the ten percent regulatory limitation as accrued offering costs on our Consolidated Balance Sheets on the date of sale of our common stock.  For NAV calculation purposes, dealer manager fees are accrued daily, on a continuous basis equal to 1/365th of the stated fee.  Each Class A, Class M and Class A-I share sold in a public offering will automatically convert into the number of Class M-I shares based on the then-current applicable NAV of each class on the date following the termination of the primary portion of such public offering in which we, with the assistance of the Dealer Manager, determine that total underwriting compensation paid with respect to such public offering equals 10% of the gross proceeds from the primary portion of such public offering.
(3)     Shares of Class D common stock are only being offered pursuant to a private offering.
The selling commissions and dealer manager fees are offering costs and are recorded as a reduction of additional paid in capital.
Stock Transactions
The stock transactions for each of our classes of common stock for the three months ended March 31, 2022 were as follows:
Shares of
Class A
Common Stock
Shares of
Class M
Common Stock
Shares of
Class A-I
Common Stock
Shares of
Class M-I
Common Stock
Shares of
Class D
Common Stock
Balance, December 31, 2021
100,038,362
36,458,191
9,356,309
52,676,693
7,513,281
Issuance of common stock
5,159,782
1,813,590
46,569
9,266,134
—
Repurchase of common stock
(
617,910
)
(
411,640
)
(
67,146
)
(
443,752
)
(
1,471,670
)
Share conversions
(
3,273
)
(
178,956
)
—
182,133
—
Balance, March 31, 2022
104,576,961
37,681,185
9,335,732
61,681,208
6,041,611
Stock Issuances
The stock issuances for our classes of common stock, including those issued through our distribution reinvestment plan, for the three months ended March 31, 2022 were as follows:
Three Months Ended March 31, 2022
# of shares
Amount
Class A Shares
5,159,782
$
72,277
Class M Shares
1,813,590
25,361
Class A-I Shares
46,569
677
Class M-I Shares
9,266,134
129,266
Class D Shares
—
—
Total
$
227,581
15
Share Repurchase Plan
Our share repurchase plan allows stockholders, subject to a one-year holding period, with certain exceptions, to request that we repurchase all or a portion of their shares of common stock on a daily basis at that day's NAV per share, limited to
5
% of aggregate Company NAV per quarter. For the three months ended March 31, 2022, we repurchased
3,012,118
shares of common stock in the amount of $
41,266
. During the three months ended March 31, 2021, we repurchased
3,830,592
shares of common stock in the amount of $
44,794
.
Distribution Reinvestment Plan
Pursuant to our distribution reinvestment plan, holders of shares of any class of our common stock may elect to have their cash distributions reinvested in additional shares of our common stock at the NAV per share applicable to the class of shares being purchased on the distribution date.  For the three months ended March 31, 2022, we issued
1,217,520
shares of common stock for $
17,666
under the distribution reinvestment plan. For the three months ended March 31, 2021, we issued
1,161,954
shares of common stock for $
13,734
under the distribution reinvestment plan.
Operating Partnership Units
In connection with the acquisitions of Siena Suwanee Town Center and South San Diego Distribution Center, we issued
7,037,257
OP Units to third parties for a total of $
88,925
.  After a one-year holding period, holders of OP Units generally have the right to cause the operating partnership to redeem all or a portion of their OP Units for, at our sole discretion, shares of our common stock, cash, or a combination of both.  During the three months ended March 31, 2022 we did not issue any additional OP Units.
Earnings Per Share
We compute net income per share for Class A, Class M, Class A-I, Class M-I and Class D common stock using the two-class method. Our Advisor may earn a performance fee (see
Note 9-Related Party Transactions
), which may impact the net income of each class of common stock differently. In periods where no performance fee is recognized in our Consolidated Statements of Operations and Comprehensive Income, the net income per share will be the same for each class of common stock.
Basic and diluted net income per share for each class of common stock is computed using the weighted-average number of common shares outstanding during the period for each class of common stock. We have not issued any dilutive or potentially dilutive securities, and thus the basic and diluted net income per share for a given class of common stock is the same for each period presented.
The following table sets forth the computation of basic and diluted net income per share for each of our Class A, Class M, Class A-I, Class M-I and Class D common stock:
Three Months Ended March 31, 2022
Class A
Class M
Class A-I
Class M-I
Class D
Basic and diluted net income per share:
Allocation of net income per share before performance fee
$
22,431
$
8,042
$
2,044
$
12,498
$
1,405
Allocation of performance fee
3,793
1,463
353
2,370
236
Total
$
18,638
$
6,579
$
1,691
$
10,128
$
1,169
Weighted average number of common shares outstanding
102,496,685
36,744,790
9,338,376
57,107,329
6,417,704
Basic and diluted net income per share:
$
0.18
$
0.18
$
0.18
$
0.18
$
0.18
Three Months Ended March 31, 2021
Class A
Class M
Class A-I
Class M-I
Class D
Basic and diluted net loss per share:
Allocation of net loss per share before performance fee
$
15,464
$
6,060
$
1,659
$
5,916
$
1,006
Weighted average number of common shares outstanding
89,762,121
35,177,589
9,637,799
34,349,467
5,838,096
Basic and diluted net loss per share:
$
0.17
$
0.17
$
0.17
$
0.17
$
0.17
16
Organization and Offering Costs
Organization and offering costs include, but are not limited to, legal, accounting, printing fees and personnel costs of our Advisor attributable to our organization, preparation of the registration statement, registration and qualification of our common stock for sale with the SEC, or in a private placement, and in the various states and filing fees incurred by our Advisor. LaSalle agreed to fund our organization and offering expenses for the Current Public Offering until December 21, 2021, the day the registration statement was declared effective by the SEC, following which time we commenced reimbursing LaSalle over
36
months.  Following the Current Public Offering commencement date, we began paying directly or reimbursing LaSalle if it pays on our behalf any organization and offering costs incurred during the Current Public Offering period (other than selling commissions and dealer manager fees) as and when incurred. After the termination of the Current Public Offering, LaSalle has agreed to reimburse us to the extent that the organization and offering costs that we incur exceed
15
% of our gross proceeds from the Current Public Offering. Organization costs are expensed, whereas offering costs are recorded as a reduction of capital in excess of par value. As of March 31, 2022 and December 31, 2021, LaSalle had paid $
2,244
and $
2,113
, respectively, of organization and offering costs on our behalf which we had not yet reimbursed. These costs are included in accrued offering costs on the Consolidated Balance Sheets.
17
NOTE 7—DST PROGRAM
On October 16, 2019, we, through our operating partnership, initiated the DST Program, and on August 10, 2021, our board of directors approved an increase to raise up to a total of
$
1,000,000
in pri
vate placements through the sale of beneficial interests in specific Delaware statutory trusts ("DST") holding DST Properties, which may be sourced from our existing portfolio or from newly acquired properties sourced from third parties. Each DST Property will be leased back by a wholly owned subsidiary of our operating partnership on a long-term basis of up to ten years pursuant to a master lease agreement. The master lease agreements are expected to be guaranteed by our operating partnership. As compensation for the master lease guarantee, our operating partnership will retain a fair market value purchase option giving it the right, but not the obligation, to acquire the beneficial interests in the DST from the investors at any time after two years from the closing of the applicable DST offering in exchange for OP Units or cash, at our discretion.
The sale of beneficial interests in the DST Property will be accounted for as a failed sale-leaseback transaction due to the fair market value purchase option retained by the operating partnership and as such, the property will remain on our books and records.  The proceeds received from each DST offering will be accounted for as a financing obligation on the Consolidated Balance Sheets. Upfront costs for legal work and debt placement costs for the DST totaling
$
2,162
are accounted for as deferred loan costs and are netted against the financing obligation.
Under the master lease, we are responsible for subleasing the DST Property to tenants, for covering all costs associated with operating the underlying DST Property, and for paying base rent to the DST that owns such property. For financial reporting purposes (and not for income tax purposes), the DST Properties are included in our consolidated financial statements, with the master lease rent payments accounted for using the interest method whereby a portion is accounted for as interest expense and a portion is accounted for as a reduction of the outstanding principal balance of the financing obligation.  For the three months ended March 31, 2022 and March 31, 2021, we recorded non-cash interest expense related to the master lease in the amounts of $
3,824
and $
1,350
, respectively.  Upon the determination that it is probable that we will exercise the fair market value purchase option, we will recognize additional interest expense or interest income to the financing obligation to account for the difference between the fair value of the property and the outstanding liabilities.  We determined that certain properties were probable for exercising the fair market value purchase option and recorded additional non-cash interest expense of $
2,567
during the three months ended March 31, 2022.  We will remeasure the fair value of these properties at each balance sheet date and adjust the non-cash interest expense recognized over the remaining term of the master lease for any changes in fair value.  If we elect to repurchase the property prior to the maturity date of the master lease, we will record the difference between the repurchase amount and the financial obligation as additional non-cash interest expense in the period of repurchase.  For financial reporting purposes, the rental revenues and rental expenses associated with the underlying property of each master lease are included in the respective line items on our Consolidated Statements of Operations and Comprehensive Income. The net amount we receive from the underlying DST Properties may be more or less than the amount we pay to the investors in the specific DST and could fluctuate over time.
As of March 31, 2022, we have sold
$
465,408
in interests related to the DST Program. As of March 31, 2022, the following properties are included in our DST Program:
•
The Reserve at Johns Creek,
•
Summit at San Marcos,
•
Mason Mill Distribution Center,
•
San Juan Medical Center,
•
The Penfield,
•
Milford Crossing,
•
Villas at Legacy,
•
Montecito Marketplace,
•
Whitestown Distribution Center,
•
Louisville Airport Distribution Center,
•
The Preserve at the Meadows,
•
The Rockwell,
•
9101 Stony Point Drive,
•
Reserve at Venice, and
•
Friendship Distribution Center.
18
NOTE 8—RENTALS UNDER OPERATING LEASES
We receive rental income from operating leases. The minimum future rentals from consolidated properties based on operating leases in place at March 31, 2022 are as follows:
Year
Amount
2022
$
212,123
2023
167,098
2024
141,643
2025
123,891
2026
107,261
Thereafter
380,806
Total
$
1,132,822
Minimum future rentals do not include amounts payable by certain tenants based upon a percentage of their gross sales or as reimbursement of property operating expenses. During the three months ended March 31, 2022, no tenants accounted for greater than 10% of minimum base rents.
NOTE 9—RELATED PARTY TRANSACTIONS
Pursuant to our Advisory Agreement with LaSalle, we pay a fixed advisory fee of
1.25
% of our NAV calculated daily.  The Advisory Agreement allows for a performance fee to be earned for each share class based on the total return of that share class or OP Unit during the calendar year.  The performance fee is calculated as
10
% of the return in excess of
7
% per annum.  The term of our Advisory Agreement expires June 5, 2023, subject to an unlimited number of successive one year renewals.
Fixed advisory fees for the three months ended March 31, 2022 and 2021 were $
9,374
and $
6,325
, respectively. Performance fees for the three months ended March 31, 2022 were $
8,484
. There were
no
performance fees for the three months ended March 31, 2021. Included in Advisor fees payable at March 31, 2022 was $
3,393
of fixed advisory fee expense and $8,484 of performance fee expense. Included in Advisor fees payable for the year ended December 31, 2021 was $
2,998
of fixed advisory fee expense and $36,711 of performance fee expenses.
We pay Jones Lang LaSalle Americas, Inc. ("JLL Americas"), an affiliate of our Advisor, for property management, construction management, leasing, mortgage brokerage and sales brokerage services performed at various properties we own. For the three months ended March 31, 2022 and 2021, we paid JLL Americas $
419
and $
166
, respectively, for property management and leasing services. During the three months ended March 31, 2022, there were
no
mortgage brokerage fees paid to JLL Americas.  During the three months ended March 31, 2021, we paid JLL Americas $
162
in mortgage brokerage fees related to the mortgage note payable for Townlake of Coppell.
We pay the Dealer Manager selling commissions and dealer manager fees in connection with our offerings. For the three months ended March 31, 2022 and 2021, we paid the Dealer Manager selling commissions and dealer manager fees totaling $
3,762
and $
2,614
, respectively. A majority of the selling commissions and dealer manager fees are reallowed to participating broker-dealers.  Included in accrued offering costs, at March 31, 2022 and December 31, 2021, were $
152,529
and $
135,663
of future dealer manager fees payable, respectively.
As of March 31, 2022 and December 31, 2021, we owed $
2,244
and $
2,113
, respectively, for organization and offering costs paid by LaSalle (see
Note 6-Common Stock
). These costs are included in accrued offering costs.
LaSalle Investment Management Distributors, LLC also serves as the dealer manager for the DST Program on a "best efforts" basis. Our taxable REIT subsidiary, which is a wholly owned subsidiary of our operating partnership, will pay the Dealer Manager upfront selling commissions, upfront dealer manager fees and placement fees of up to
5.0
%,
1.0
% and
1.0
%, respectively, of the gross purchase price per unit of beneficial interest sold in the DST Program. All upfront selling commissions and upfront dealer manager fees are reallowed to participating broker-dealers.  For the three months ended March 31, 2022 and 2021, the taxable REIT subsidiary paid $
125
and $
1,027
, respectively, to the Dealer Manager. In addition, the Dealer Manager may receive an ongoing investor servicing fee that is calculated daily on a continuous basis from year to year equal to 1/365th of (a) 0.25% of the total equity of each outstanding unit of beneficial interest for such day, payable by the DSTs; (b) 0.85% of the NAV of each outstanding Class A OP Unit, 0.30% of the NAV of each outstanding Class M OP Unit or 0.30% of the NAV of each outstanding Class A-I OP Unit for such day issued in connection with our operating partnership's fair market value purchase option, payable by our operating partnership; and (c) 0.85% of the NAV of each outstanding Class A share, 0.30% of the NAV of each outstanding Class M share or 0.30% of the NAV of each outstanding Class A-I share for such
19
day issued in connection with the investors' redemption right, payable by us. The investor servicing fee may continue for so long as the investor in the DST Program holds beneficial interests, Class A, Class M and Class A-I OP Units or Class A, Class M and Class A-I shares that were issued in connection with the DST Program. No investor servicing fee will be paid on Class M-I OP Units or Class M-I shares.  For the three months ended March 31, 2022 and 2021, the DSTs paid $
287
and $
126
, respectively, in investor servicing fees to the Dealer Manager in connection with the DST Program.
LaSalle also serves as the manager for the DST Program. Each DST pays the manager a management fee equal to a to-be-agreed upon percentage of the total equity of such DST. For the three months ended March 31, 2022 and 2021, the DSTs paid $
184
and $
76
, respectively, in management fees to our Advisor in connection with the DST Program.
NOTE 10—
COMMITMENTS AND CONTINGENCIES
We are involved in various claims and litigation matters arising in the ordinary course of business, some of which involve claims for damages. Many of these matters are covered by insurance, although they may nevertheless be subject to deductibles or retentions. Although the ultimate liability for these matters cannot be determined, based upon information currently available, we believe the ultimate resolution of such claims and litigation will not have a material adverse effect on our financial position, results of operations or liquidity.
From time to time, we have entered into contingent agreements for the acquisition and financing of properties.  Such acquisitions and financings are subject to satisfactory completion of due diligence or meeting certain leasing or occupancy thresholds.
We are subject to fixed ground lease payments on South Beach Parking Garage of $
112
per year until September 30, 2024, which will increase every five years thereafter by the lesser of 12% or the cumulative CPI over the previous five year period.  We are also subject to a variable ground lease payment calculated as 2.5% of revenue.  The lease expires September 30, 2041 and has a ten-year renewal option.
The operating agreement for Grand Lakes Marketplace allows the unrelated third party joint venture partner, owning a 10% interest, to put its interest to us at a market determined value.
The operating agreement for 237 Via Vera Cruz, 13500 Danielson Street, 4211 Starboard, 2840 Loaker Avenue and 15890 Bernardo Center Drive allows the unrelated third party joint venture partner, owning a 5% interest, to put its interest to us at a market determined value starting July 31, 2024.
The operating agreement for Presley Uptown allows the unrelated third party joint venture partner, owning a 2.5% interest, to put its interest to us at a market determined value starting September 30, 2022 until September 30, 2024.
NOTE 11—
SEGMENT REPORTING
We have five reportable operating segments: industrial, office, residential, retail and other properties. Consistent with how our chief operating decision makers evaluate performance and manage our properties, the financial information summarized below is presented by operating segment and reconciled to net income for the three months ended March 31, 2022 and 2021.
20
Industrial
Office
Residential
Retail
Other
Total
Assets as of March 31, 2022
$
1,324,928
$
476,747
$
1,432,265
$
558,009
$
23,448
$
3,815,397
Assets as of December 31, 2021
1,352,580
479,306
1,301,454
564,565
23,412
3,721,317
Three Months Ended March 31, 2022
Capital expenditures by segment
$
1,005
$
1,121
$
—
$
316
$
—
$
2,442
Revenues:
Rental revenue
$
24,886
$
11,332
$
25,061
$
13,615
$
61
$
74,955
Other revenue
35
286
1,222
72
601
2,216
Total revenues
$
24,921
$
11,618
$
26,283
$
13,687
$
662
$
77,171
Operating expenses:
Real estate taxes
$
4,107
$
1,164
$
4,256
$
1,671
$
113
$
11,311
Property operating expenses
2,284
2,173
7,212
2,124
208
14,001
Total segment operating expenses
$
6,391
$
3,337
$
11,468
$
3,795
$
321
$
25,312
Reconciliation to net income
Property general and administrative
$
697
Advisor fees
17,858
Company level expenses
1,074
Depreciation and amortization
32,974
Total operating expenses
$
77,915
Other income and (expenses):
Interest expense
(
17,852
)
Gain  from unconsolidated real estate affiliates and fund investment
29,025
Investment income on marketable securities
304
Net realized gain upon sale of marketable securities
79
Net unrealized change in fair value of investment in marketable securities
(
2,984
)
Gain on disposition of property and extinguishment of debt, net
31,492
Total other income and (expenses)
$
40,064
Net income
$
39,320
Reconciliation to total consolidated assets as of March 31, 2022
Assets per reportable segments
$
3,815,397
Investment in unconsolidated real estate affiliates, real estate fund investments and corporate level assets
760,830
Total consolidated assets
$
4,576,227
Reconciliation to total consolidated assets as of December 31, 2021
Assets per reportable segments
3,721,317
Investment in unconsolidated real estate affiliates, real estate fund investments and corporate level assets
680,929
Total consolidated assets
$
4,402,246
21
Industrial
Office
Residential
Retail
Other
Total
Three Months Ended March 31, 2021
Capital expenditures by segment
$
433
$
710
$
2,975
$
512
$
16
$
4,646
Revenues:
Rental revenue
$
15,226
$
7,572
$
15,848
$
12,053
$
32
$
50,731
Other revenue
5
372
759
83
631
1,850
Total revenues
$
15,231
$
7,944
$
16,607
$
12,136
$
663
$
52,581
Operating expenses:
Real estate taxes
$
2,459
$
767
$
3,112
$
1,633
$
115
$
8,086
Property operating expenses
1,354
1,487
4,830
2,046
194
9,911
Total segment operating expenses
$
3,813
$
2,254
$
7,942
$
3,679
$
309
$
17,997
Reconciliation to net income
Property general and administrative
$
660
Advisor fees
6,325
Company level expenses
1,193
Depreciation and amortization
19,945
Total operating expenses
$
46,120
Other income and (expenses):
Interest expense
(
9,262
)
Loss from unconsolidated real estate affiliates and fund investment
(
339
)
Gain on disposition of property and extinguishment of debt, net
33,422
Total other income and (expenses)
$
23,821
Net Income
$
30,282
NOTE 12—
INVESTMENT IN MARKETABLE SECURITIES
The following is a summary of our investment in marketable securities held as of March 31, 2022 and December 31, 2021, which consisted entirely of stock of publicly traded REITs.
March 31, 2022
December 31, 2021
Investment in marketable securities - cost
$
40,650
40,273
Unrealized gains
1,312
3,161
Unrealized losses
(
1,363
)
(
228
)
Net unrealized (loss) gain
(
51
)
2,933
Investment in marketable securities - fair value
$
40,599
$
43,206
Upon the sale of a particular security, the realized net gain or loss is computed assuming the shares purchased first are sold first. During the three months ended March 31, 2022, marketable securities sold generated proceeds of $
4,348
, resulting in realized gains of $
157
, and realized losses of $
78
.
22
NOTE 13—
SUBSEQUENT EVENTS
On April 8, 2022, we acquired Northeast Atlanta Distribution Center, a
459,000
square foot industrial property located in Jefferson, GA for approximately $
54,100
.
On April 28, 2022, we entered into a credit agreement providing for a $
1,000,000
revolving line of credit and unsecured term loan (collectively, the "Credit Facility") with a syndicate of nine lenders led by JPMorgan Chase Bank, N.A., Bank of America, N.A., PNC Capital Markets LLC, Wells Fargo Securities, LLC and Capital One, National Association. The Credit Facility provides us with the ability, from time to time, to increase the size of the Credit Facility up to a total of $1,300,000, subject to receipt of lender commitments and other conditions. The $
1,000,000
Credit Facility consists of a $
600,000
revolving credit facility (the "Revolving Credit Facility") and a $
400,000
term loan (the "Term Loan"). The primary interest rate for the Revolving Credit Facility is based on one-month SOFR plus 0.10% ("Adjusted Term SOFR"), plus a margin ranging from
1.30
% to
2.00
%, depending on our total leverage ratio. The primary interest rate for the Term Loan is based on Adjusted Term SOFR, plus a margin ranging from
1.25
% to
1.95
%, depending on our total leverage ratio. The maturity date of the Revolving Credit Facility is
April 28, 2025
and the Term Loan is
April 28, 2027
.  The credit facility contains two, twelve-month extension options at our election.  Based on our current total leverage ratio, we can elect to borrow at Adjusted Term SOFR plus 1.35% and Adjusted Term SOFR plus 1.30% for the Revolving Credit Facility and Term Loan, respectively, or alternatively, we can choose to borrow at a "base rate" equal to (i) the highest of (a) the Federal Funds Rate plus 0.5%, (b) the prime rate announced by JPMorgan Chase Bank, N.A., and (c) Adjusted Term SOFR plus 1.0%, plus (ii) a margin ranging from 0.30% to 1.00% for base rate loans under the Revolving Credit Facility or a margin ranging from 0.25% to 0.95% for base rate loans under the Term Loan. If the "base rate" is less than 1.0%, it will be deemed to be 1.0% for purposes of the Credit Facility.
On April 29, 2022, we acquired Flagstaff Medical Center, a
26,000
square foot medical office property located in Flagstaff, AZ for approximately $
17,200
.
On May 10, 2022, our board of directors approved a gross dividend for the second quarter of 2022 of $
0.14
per share to stockholders of record as of June 28, 2022. The dividend will be paid on or around June 29, 2022.  Class A, Class M, Class A-I, Class M-I and Class D stockholders will receive $
0.14
per share, less applicable class-specific fees, if any.
On May 10, 2022, we renewed our Advisory Agreement for a one-year term expiring on June 5, 2023, without any other changes.
*  *  *  *  *  *
23
Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations.
$ in thousands, except per share amounts
Cautionary Note Regarding Forward-Looking Statements
This Quarterly Report on Form 10-Q ("Form 10-Q") may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), regarding, among other things, our plans, strategies and prospects, both business and financial. Forward-looking statements include, but are not limited to, statements that represent our beliefs concerning future operations, strategies, financial results or other developments. Forward-looking statements can be identified by the use of forward-looking terminology such as, but not limited to, "may," "should," "expect," "anticipate," "estimate," "would be," "believe," or "continue" or the negative or other variations of comparable terminology. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this Form 10-Q is filed with the SEC. Except as required by law, we do not undertake to update or revise any forward-looking statements contained in this Form 10-Q. Important factors that could cause actual results to differ materially from the forward-looking statements are disclosed in "Item 1A. Risk Factors," "Item 1. Business" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" contained in our 2021 Form 10-K and our periodic reports filed with the SEC.
Management Overview
The following Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") is intended to help the reader understand our results of operations and financial condition. This MD&A is provided as a supplement to, and should be read in conjunction with, our consolidated financial statements and the accompanying notes to the consolidated financial statements appearing elsewhere in this Form 10-Q. All references to numbered Notes are to specific notes to our consolidated financial statements beginning on page 7 of this Form 10-Q, and the descriptions referred to are incorporated into the applicable portion of this section by reference. References to "base rent" in this Form 10-Q refer to cash payments made under the relevant lease(s), excluding real estate taxes and certain property operating expenses that are paid by us and are recoverable under the relevant lease(s) and exclude adjustments for straight-line rent revenue and above- and below-market lease amortization.
The discussions surrounding our portfolio of properties refer to our Consolidated Properties, including our DST Properties, and our Unconsolidated Properties which can be found below (see Item 2 - Properties).
Our primary business is the ownership and management of a diversified portfolio of industrial, office, residential, retail and other properties primarily located in the United States. The residential sector includes apartment properties and single-family rental homes.  It is expected that over time our real estate portfolio will be further diversified on a global basis and will be further complemented by investments in real estate-related assets.
We are managed by our Advisor, LaSalle Investment Management, Inc., a subsidiary of our Sponsor, Jones Lang LaSalle Incorporated (NYSE: JLL), a leading global financial and professional services firm that specializes in commercial real estate and investment management. We hire property management and leasing companies to provide the on-site, day-to-day management and leasing services for our properties. When selecting a property management or leasing company for one of our properties, we look for service providers that have a strong local market or industry presence, create portfolio efficiencies, have the ability to develop new business for us and will provide a strong internal control environment that will comply with our Sarbanes-Oxley Act of 2002 internal control requirements. We currently use a mix of property management and leasing service providers that include large national real estate service firms, including an affiliate of our Advisor and smaller local firms.
24
We seek to minimize risk and maintain stability of income and principal value through broad diversification across property sectors and geographic markets and by balancing tenant lease expirations and debt maturities across the real estate portfolio. Our diversification goals also take into account investing in sectors or regions we believe will create returns consistent with our investment objectives. Under normal conditions, we intend to pursue investments principally in well-located, well-leased properties within the industrial, office, residential, retail and other sectors. We expect to actively manage the mix of properties and markets over time in response to changing operating fundamentals within each property sector and to changing economies and real estate markets in the geographic areas considered for investment. When consistent with our investment objectives, we also seek to maximize the tax efficiency of our investments through like-kind exchanges and other tax planning strategies.
The following charts summarize our portfolio diversification by property sector and geographic region based upon the fair value of our properties. These tables provide examples of how our Advisor evaluates our real estate portfolio when making investment decisions.
Estimated Percent of Fair Value as of March 31, 2022:
25
Our investments are not materially impacted by seasonality, despite certain of our retail tenants being impacted by seasonality. Percentage rents (rents computed as a percentage of tenant sales) that we earn from investments in retail properties may, in the future, be impacted by seasonality.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. For example, significant estimates and assumptions have been made with respect to the useful lives of assets, recoverable amounts of receivables, fair value of derivatives and real estate assets, initial valuations and related amortization periods of deferred costs and intangibles, particularly with respect to property acquisitions. Actual results could differ from those estimates.
Critical Accounting Policies
This MD&A is based upon our consolidated financial statements, which have been prepared in accordance with GAAP. The preparation of these consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. Management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. We believe there have been no significant changes during the three months ended March 31, 2022 to the items that we disclosed as our critical accounting policies and estimates under "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in our 2021 Form 10-K.
Initial Valuations and Estimated Useful Lives or Amortization Periods for Real Estate Investments and Intangibles
These estimates are particularly important as they are used for the allocation of purchase price between building, land and other identifiable intangibles, including above, below and at-market leases. As a result, the impact of these estimates on our operations could be substantial. Significant differences in annual depreciation or amortization expense may result from the differing useful life or amortization periods related to such purchased assets and liabilities.
Impairment of Long-Lived Assets
Our estimate of the expected future cash flows used in testing for impairment is subjective and based on, among other things, our estimates regarding future market conditions, rental rates, occupancy levels, costs of tenant improvements, leasing commissions and other tenant concessions, assumptions regarding the residual value of our properties at the end of our anticipated holding period, discount rates and the length of our anticipated holding period. These assumptions could differ materially from actual results. If changes in our strategy or the market conditions result in a reduction in the holding period and an earlier sale date, an impairment loss could be recognized and such loss could be material.  No such strategy changes or market conditions have been identified as of March 31, 2022.
Collectibility of Rental Revenue
Individual leases are evaluated for collectibility at each reporting period. We evaluate the collectibility of rents and other receivables at each reporting period based on factors including, among others, tenants' payment history, the financial condition of the tenant, business conditions and trends in the industry in which the tenant operates and economic conditions in the geographic area where the property is located. If evaluation of these factors or others indicates it is not probable we will collect substantially all rent we recognize an adjustment to rental revenue. If our judgment or estimation regarding probability of collection changes we may adjust or record additional rental revenue in the period such conclusion is reached.
26
Properties
Properties owned at March 31, 2022, including DST Properties, are as follows:
Percentage Leased as of March 31, 2022
Property Name
Location
Acquisition Date
Ownership
%
Net Rentable
Square Feet
Consolidated Properties:
Industrial Segment:
Kendall Distribution Center
Atlanta, GA
June 30, 2005
100%
409,000
100%
Suwanee Distribution Center
Suwanee, GA
June 28, 2013
100
559,000
100
Grand Prairie Distribution Center
3325 West Trinity Boulevard
Grand Prairie, TX
January 22, 2014
100
277,000
100
3324 West Trinity Boulevard
Grand Prairie, TX
May 31, 2019
100
145,000
100
Charlotte Distribution Center
Charlotte, NC
June 27, 2014
100
347,000
100
DFW Distribution Center
4050 Corporate Drive
Grapevine, TX
April 15, 2015
100
441,000
100
4055 Corporate Drive
Grapevine, TX
April 15, 2015
100
202,000
89
O'Hare Industrial Portfolio
200 Lewis
Wood Dale, IL
September 30, 2015
100
31,000
100
1225 Michael Drive
Wood Dale, IL
September 30, 2015
100
109,000
100
1300 Michael Drive
Wood Dale, IL
September 30, 2015
100
71,000
100
1301 Mittel Drive
Wood Dale, IL
September 30, 2015
100
53,000
100
1350 Michael Drive
Wood Dale, IL
September 30, 2015
100
56,000
100
2501 Allan Drive
Elk Grove, IL
September 30, 2015
100
198,000
100
2601 Allan Drive
Elk Grove, IL
September 30, 2015
100
124,000
100
Tampa Distribution Center
Tampa, FL
April 11, 2016
100
386,000
100
Aurora Distribution Center
Aurora, IL
May 19, 2016
100
305,000
100
Valencia Industrial Portfolio:
28150 West Harrison Parkway
Valencia, CA
June 29, 2016
100
87,000
100
28145 West Harrison Parkway
Valencia, CA
June 29, 2016
100
114,000
100
28904 Paine Avenue
Valencia, CA
June 29, 2016
100
117,000
100
25045 Tibbitts Avenue
Santa Clarita, CA
June 29, 2016
100
142,000
100
Pinole Point Distribution Center:
6000 Giant Road
Richmond, CA
September 8, 2016
100
225,000
100
6015 Giant Road
Richmond, CA
September 8, 2016
100
252,000
100
6025 Giant Road
Richmond, CA
December 29, 2016
100
41,000
100
Mason Mill Distribution Center
Buford, GA
December 20, 2017
100
340,000
100
Fremont Distribution Center
45275 Northport Court
Fremont, CA
March 29, 2019
100
117,000
100
45630 Northport Loop East
Fremont, CA
March 29, 2019
100
120,000
100
Taunton Distribution Center
Taunton, MA
August 23, 2019
100
200,000
100
Chandler Distribution Center
1725 East Germann Road
Chandler, AZ
December 5, 2019
100
122,000
100
1825 East Germann Road
Chandler, AZ
December 5, 2019
100
89,000
100
Fort Worth Distribution Center
Fort Worth, TX
October 23, 2020
100
351,000
100
Whitestown Distribution Center
4993 Anson Boulevard
Whitestown, IN
December 11, 2020
100
280,000
100
5102 E 500 South
Whitestown, IN
December 11, 2020
100
440,000
100
Louisville Distribution Center
Shepherdsville, KY
January 21, 2021
100
1,040,000
100
Southeast Phoenix Distribution Center
6511 West Frye Road
Chandler, AZ
February 23, 2021
100
102,000
100
27
Percentage Leased as of March 31, 2022
Property Name
Location
Acquisition Date
Ownership
%
Net Rentable
Square Feet
6565 West Frye Road
Chandler, AZ
February 23, 2021
100
118,000
100
6615 West Frey Road
Chandler, AZ
February 23, 2021
100
136,000
100
6677 West Frye Road
Chandler, AZ
February 23, 2021
100
118,000
100
Louisville Airport Distribution Center
Louisville, KY
June 24, 2021
100
284,000
100
237 Via Vera Cruz (1)
San Marcos, CA
July 2, 2021
95
66,000
100
13500 Danielson Street (1)
Poway, CA
July 2, 2021
95
73,000
100
4211 Starboard Drive (1)
Fremont, CA
July 9, 2021
95
130,000
100
5 National Way
Durham, NC
September 28, 2021
100
188,000
100
47 National Way
Durham, NC
September 28, 2021
100
187,000
100
Friendship Distribution Center
4627 Distribution Pkwy
Buford, GA
October 20, 2021
100
126,000
100
4630 Distribution Pkwy
Buford, GA
October 20, 2021
100
149,000
100
4646 Distribution Pkwy
Buford, GA
October 20, 2021
100
102,000
100
4651 Distribution Pkwy
Buford, GA
October 20, 2021
100
272,000
100
South San Diego Distribution Center
2001 Sanyo Avenue
San Diego, CA
October 28, 2021
100
320,000
100
2055 Sanyo Avenue
San Diego, CA
October 28, 2021
100
209,000
87
2065 Sanyo Avenue
San Diego, CA
October 28, 2021
100
136,000
100
1755 Britannia Drive
Elgin, IL
November 16, 2021
100
80,000
100
2451 Bath Road
Elgin, IL
November 16, 2021
100
327,000
100
687 Conestoga Parkway
Shepardsville, KY
November 17, 2021
100
327,000
100
2840 Loker Avenue
Carlsbad, CA
November 30, 2021
95
104,000
100
15890 Bernardo Center Drive
San Diego, CA
November 30, 2021
95
48,000
100
Office Segment:
Monument IV at Worldgate
Herndon, VA
August 27, 2004
100%
228,000
100%
140 Park Avenue
Florham Park, NJ
December 21, 2015
100
100,000
100
San Juan Medical Center
San Juan Capistrano, CA
April 1, 2016
100
40,000
100
Genesee Plaza
9333 Genesee Ave
San Diego, CA
July 2, 2019
100
80,000
78
9339 Genesee Ave
San Diego, CA
July 2, 2019
100
81,000
91
Fountainhead Corporate Park
Fountainhead Corporate Park I
Tempe, AZ
February 6, 2020
100
167,000
100
Fountainhead Corporate Park II
Tempe, AZ
February 6, 2020
100
128,000
100
170 Park Avenue
Florham Park, NJ
February 2, 2021
100
147,000
100
9101 Stony Point Drive
Richmond, VA
September 15, 2021
100
87,000
100
North Tampa Surgery Center
Odessa, FL
October 8, 2021
100
13,000
100
Duke Medical Center
Durham, NC
December 23, 2021
100
60,000
96
KC Medical Office Portfolio
8600 NE 82nd Street
Kansas City, MO
December 23, 2021
100
11,000
100
1203 SW 7 Highway
Blue Springs, MO
December 23, 2021
100
10,000
100
Roeland Park Medical Office
Roeland Park, KS
December 28, 2021
100
30,000
100
South Reno Medical Center
Reno, NV
December 28, 2021
100
32,000
100
Sugar Land Medical Plaza
Sugar Land, TX
December 30, 2021
100
37,000
100
Residential Segment:
Townlake of Coppell
Coppell, TX
May 22, 2015
100
351,000
95
AQ Rittenhouse
Philadelphia, PA
July 30, 2015
100
92,000
98
Lane Parke Apartments
Mountain Brook, AL
May 26, 2016
100
263,000
90
28
Percentage Leased as of March 31, 2022
Property Name
Location
Acquisition Date
Ownership
%
Net Rentable
Square Feet
Dylan Point Loma
San Diego, CA
August 9, 2016
100
204,000
96
The Penfield
St. Paul, MN
September 22, 2016
100
245,000
96
180 North Jefferson
Chicago, IL
December 1, 2016
100
217,000
96
Jory Trail at the Grove
Wilsonville, OR
July 14, 2017
100
315,000
95
The Reserve at Johns Creek
Johns Creek, GA
July 28, 2017
100
244,000
96
Villas at Legacy
Plano, TX
June 6, 2018
100
340,000
95
Stonemeadow Farms
Bothell, WA
May 13, 2019
100
228,000
97
Summit at San Marcos
Chandler, AZ
July 31, 2019
100
257,000
97
Presley Uptown (1)
Charlotte, NC
September 30, 2019
98
190,000
96
Princeton North Andover
North Andover, MA
May 3, 2021
100
204,000
97
The Preserve at the Meadows
Fort Collins, CO
August 23, 2021
100
208,000
96
The Rockwell
Berlin, MA
August 31, 2021
100
233,000
98
Miramont Apartments
Fort Collins, CO
September 29, 2021
100
212,000
97
Pinecone Apartments
Fort Collins, CO
September 29, 2021
100
176,000
99
Reserve at Venice
North Venice, FL
December 17, 2021
100
268,000
94
Woodside Trumbull
Trumbull, CT
December 21, 2021
100
207,000
89
Jefferson Lake Howell
Casselberry, FL
March 30, 2022
100
374,000
91
Retail Segment:
The District at Howell Mill (1)
Atlanta, GA
June 15, 2007
88%
306,000
96%
Grand Lakes Marketplace (1)
Katy, TX
September 17, 2013
90
131,000
75
Oak Grove Plaza
Sachse, TX
January 17, 2014
100
120,000
94
Rancho Temecula Town Center
Temecula, CA
June 16, 2014
100
165,000
97
Skokie Commons
Skokie, IL
May 15, 2015
100
97,000
98
Whitestone Market
Austin, TX
September 30, 2015
100
145,000
99
Maui Mall
Kahului, HI
December 22, 2015
100
235,000
83
Silverstone Marketplace
Scottsdale, AZ
July 27, 2016
100
78,000
93
Kierland Village Center
Scottsdale, AZ
September 30, 2016
100
118,000
98
Timberland Town Center
Beaverton, OR
September 30, 2016
100
92,000
96
Montecito Marketplace
Las Vegas, NV
August 8, 2017
100
190,000
95
Milford Crossing
Milford, MA
January 29, 2020
100
159,000
99
Other Segment:
South Beach Parking Garage (2)
Miami Beach, FL
January 28, 2014
100%
130,000
N/A
Unconsolidated Properties:
Chicago Parking Garage (3)
Chicago, IL
December 23, 2014
100%
167,000
N/A
NYC Retail Portfolio (4)(5)
NY/NJ
December 8, 2015
14
1,938,000
91
Pioneer Tower (6)
Portland, OR
June 28, 2016
100
296,000
68
The Tremont (1)
Burlington, MA
July 19, 2018
75
175,000
97
The Huntington (1)
Burlington, MA
July 19, 2018
75
115,000
93
Siena Suwanee Town Center
Suwanee, GA
December 15, 2020
100
226,000
92
Single-Family Rental Portfolio (5)
Various
August 5, 2021
47
7,207,000
96
Kingston at McLean Crossing (1)
McLean, VA
December 3, 2021
80
223,000
97
________
(1)
We own a majority interest in the joint venture that owns a fee simple interest in this property.
(2)
The parking garage contains 343 stalls.  This property is owned leasehold.
(3)
We own a condominium interest in the building that contains a 366 stall parking garage.
29
(4)
We own an approximate 14% interest in a portfolio of eight urban infill retail properties located in the greater New York City area.
(5)
We have elected the fair value option to account for this investment.
(6)
We own a condominium interest in the building that contains a 17 story multi-tenant office property.
Operating Statistics
We generally hold investments in properties with high occupancy rates leased to quality tenants under long-term, non-cancelable leases. We believe these leases are beneficial to achieving our investment objectives. The following table shows our operating statistics by property type for our consolidated properties as of March 31, 2022:
Number of
Properties
Total Area
(Sq Ft)
% of Total
Area
Occupancy %
Average Minimum
Base Rent per
Occupied Sq Ft (1)
Industrial
55
11,392,000
59
%
99
%
$
6.31
Office
16
1,251,000
6
98
32.16
Residential
20
4,828,000
24
95
22.51
Retail
12
1,836,000
9
94
20.84
Other
1
130,000
1
N/A
N/A
Total
104
19,437,000
99
%
98
%
$
13.36
________
(1)
Amount calculated as in-place minimum base rent for all occupied space at March 31, 2022 and excludes any straight line rents, tenant recoveries and percentage rent revenues.
As of March 31, 2022, our average effective annual rent per square foot, calculated as average minimum base rent per occupied square foot less tenant concessions and allowances, was $12.31 for our consolidated properties.
Recent Events and Outlook
Property Valuations
Property valuations across our portfolio are seeing positive valuation increases especially within our residential, industrial and healthcare properties driven by good underlying property fundamentals and strong capital markets.
Credit Facility
On May 24, 2021, we entered into our Credit Facility providing for a $650,000 revolving line of credit and unsecured term loan made up of a $415,000 Revolving Credit Facility and a $235,000 Term Loan. The Credit Facility provides us with the ability, from time to time, to increase the size of the Credit Facility up to a total of $800,000, subject to receipt of lender commitments and other conditions. We
are in compliance with our debt covenants as of March 31, 2022. We expect to maintain compliance with our debt covenants.
Liquidity
At March 31, 2022,
we had in excess of $124,000 in total cash on hand and $210,000 of capacity under our Credit Facility. Looking at the remainder of 2022 and into 2023, we expect to utilize our cash on hand and Credit Facility capacity to acquire new properties, fund repurchases of our shares and fund quarterly distributions.
Share Repurchase Plan
During the first quarter
of 2022, we repurchased $41,266 of our common stock pursuant to our share repurchase plan, which had a quarterly limit of $139,775.  T
he quarterly limit on repurchases is calculated as 5% of our NAV as of the last day of the previous quarter.  The limit for the second quarter of 2022
is $161,697.
30
General Company and Market Commentary
On December 21, 2021, the SEC declared our Current Public Offering effective registering up to $3,000,000 in any combination of shares of our Class A, Class M, Class A-I and Class M-I common stock, consisting of up to $2,700,000 of shares offered in our primary offering and up to $300,000 in shares offered pursuant to our distribution reinvestment plan. We intend to offer shares of our common stock on a continuous basis for an indefinite period of time by filing a new registration statement before the end of each offering period, subject to regulatory approval. The per share purchase price varies from day to day and, on each day, equals our NAV per share for each class of common stock, plus, for Class A and Class A-I shares, applicable selling commissions.  The Dealer Manager is distributing shares of our common stock in our Current Public Offering. We intend to primarily use the net proceeds from the offering, after we pay the fees and expenses attributable to the offerings and our operations, to (1) grow and further diversify our portfolio by making investments in accordance with our investment strategy and policies, (2) reduce borrowings and repay indebtedness incurred under various financing instruments and (3) fund repurchases of our shares under our share repurchase plan.
On March 3, 2015, we commenced our Private Offering of up to $350,000 in shares of our Class D common stock with an indefinite duration.  Proceeds from our Private Offering will be used for the same corporate purposes as the proceeds from our public offerings.
On October 16, 2019, we through our operating partnership, initiated the DST Program to raise up to $500,000, which our board of directors increased to $1,000,000 on August 10, 2021, in private placements exempt from registration under the Securities Act through the sale of beneficial interests to accredited investors in specific DSTs holding DST Properties, which may be sourced from our real properties or from third parties.
Capital Raised and Use of Proceeds
As of March 31, 2022, we have raised gross proceeds of over $3,368,000 from our public and private offerings and private share sales since 2012.  We used these proceeds along with proceeds from mortgage debt to acquire approximately $4,653,000 of real estate investments, deleverage the Company by repaying mortgage loans of approximately $647,000 and repurchase shares of our common stock for approximately $947,000.
Property Acquisitions
On March 30, 2022, we acquired Jefferson Lake Howell, a 384-unit residential property located in Casselberry, Florida for approximately $154,100. The acquisition was funded with cash on hand and a draw on our Credit Facility.
Property Dispositions
On January 6, 2022, we sold Norfleet Distribution Center, a 702,000 square foot industrial property located in Kansas City, Missouri for approximately $60,375 less closing costs.  We recorded a gain on the sale of the property in the amount of approximately $34,186.
On January 24, 2022, we sold The Edge at Lafayette, a 207,000 square foot student housing apartment property located in Lafayette, Louisiana for approximately $16,500 less closing costs. We recorded a gain on the sale of the property in the amount of approximately $13.
Financing
On March 1, 2022, we entered into a $55,800 mortgage payable on Reserve at Venice. The mortgage note bears an interest of 2.98% and matures on March 1, 2032.
On March 1, 2022, we entered into a $40,000 mortgage payable on Friendship Distribution Center.  The mortgage note bears an interest rate of SOFR plus 1.75% (2.03% at March 31, 2022) and matures on March 1, 2029.
Investment Objectives and Strategy
Our primary investment objectives are:
•
to generate an attractive level of current income for distribution to our stockholders;
•
to preserve and protect our stockholders' capital investments;
•
to achieve appreciation of our NAV over time; and
•
to enable stockholders to utilize real estate as an asset class in diversified, long-term investment portfolios.
31
We cannot ensure that we will achieve our investment objectives.  Our charter places numerous limitations on us with respect to the manner in which we may invest our funds.  In most cases, these limitations cannot be changed unless our charter is amended, which may require the approval of our stockholders.
The cornerstone of our investment strategy is to acquire and manage income-producing commercial real estate properties and real estate-related assets around the world. We believe this strategy enables us to provide our stockholders with a portfolio that is well-diversified across property type, geographic region and industry, both in the United States and internationally. It is our belief that adding international investments to our portfolio over time will serve as an effective tool to construct a well-diversified portfolio designed to provide our stockholders with stable distributions and attractive long-term risk-adjusted returns.
We believe that our broadly diversified portfolio benefits our stockholders by providing:
•
diversification of sources of income;
•
access to attractive real estate opportunities currently in the United States and, over time, around the world; and
•
exposure to a return profile that should have lower correlations with other investments.
Since real estate markets are often cyclical in nature, our strategy allows us to more effectively deploy capital into property types and geographic regions where the underlying investment fundamentals are relatively strong or strengthening and away from those property types and geographic regions where such fundamentals are relatively weak or weakening. We intend to meet our investment objectives by selecting investments across multiple property types and geographic regions to achieve portfolio stability, diversification, current income and favorable risk-adjusted returns. To a lesser degree, we also intend to invest in debt and equity interests backed principally by real estate, which we refer to collectively as "real estate-related assets."
We will leverage LaSalle's broad commercial real estate research and strategy platform and resources to employ a research-based investment philosophy focused on building a portfolio of commercial properties and real estate-related assets that we believe has the potential to provide stable income streams and outperform market averages over an extended holding period.  Furthermore, we believe that having access to LaSalle and JLL's international organization and platform, with real estate professionals living and working full time throughout our global target markets, will be a valuable resource to us when considering and executing upon international investment opportunities.
Our board of directors has adopted investment guidelines for our Advisor to implement and actively monitor in order to allow us to achieve and maintain diversification in our overall investment portfolio. Our board of directors formally reviews our investment guidelines on an annual basis and our investment portfolio on a quarterly basis or, in each case, more often as they deem appropriate. Our board of directors reviews the investment guidelines to ensure that the guidelines are being followed and are in the best interests of our stockholders.  Each such determination and the basis therefor shall be set forth in the minutes of the meetings of our board of directors.  Changes to our investment guidelines must be approved by our board of directors but do not require notice to or the vote of stockholders.
We seek to invest:
•
up to 95% of our assets in properties;
•
up to 25% of our assets in real estate-related assets; and
•
up to 15% of our assets in cash, cash equivalents and other short-term investments.
Notwithstanding the above, the actual percentage of our portfolio that is invested in each investment type may from time to time be outside these target levels due to numerous factors including, but not limited to, large inflows of capital over a short period of time, lack of attractive investment opportunities or increases in anticipated cash requirements for repurchase requests.
We expect to maintain a targeted Company leverage ratio (calculated as our share of total liabilities divided by our share of the fair value of total assets) of between 30% and 50%.  We intend to use low leverage, or in some cases possibly no leverage, to finance new acquisitions in order to maintain our targeted Company leverage ratio. Our Company leverage ratio was 39% as of March 31, 2022.
32
2022 Key Initiatives
During the remainder of 2022, we intend to use capital raised from our public and private offerings and the DST Program to acquire new investment opportunities, repurchase stock under our share repurchase plan and fund quarterly distributions.  We look to make investments that fit with our investment objectives and guidelines.  Likely investment candidates may include well-located, well-leased residential properties, industrial properties, medical office properties and publicly traded REIT securities.  We will also attempt to further our geographic diversification.  We will look to keep the Company leverage ratio in the 30% to 50% range in the near term consistent with traditional core real estate.  We also intend to use our Revolving Credit Facility to allow us to efficiently manage our cash flows.
33
Results of Operations
General
Our revenues are primarily received from tenants in the form of fixed minimum base rents and recoveries of operating expenses. Our expenses primarily relate to the costs of operating and financing the properties. Our share of the net income or net loss from our unconsolidated real estate affiliates is included in income from unconsolidated affiliates and fund investments. We believe the following analysis of reportable segments provides important information about the operating results of our real estate investments, such as trends in total revenues or operating expenses that may not be as apparent in a period-over-period comparison of the entire Company.  We group our investments in real estate assets from continuing operations into five reportable operating segments based on the type of property, which are residential, industrial, office, retail and other.  Operations from corporate level items and real estate assets sold are excluded from reportable segments.
Properties acquired or sold during any of the periods presented are presented within the recent acquisitions and sold properties line. The properties currently presented within the recent acquisitions and sold properties line include the properties listed as acquired in the current or prior year in the Properties section above in addition to South Seattle Distribution Cener (sold in 2021), Norfleet Distribution Center (sold in 2022) and The Edge at Lafayette (sold in 2022). Properties owned for the three months ended March 31, 2022 and 2021 are referred to as our comparable properties.
Results of Operations for the Three Months Ended March 31, 2022 and 2021
Revenues
The following chart sets forth revenues by reportable segment for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
$
Change
%
Change
Revenues:
Rental revenue
Residential
$
16,541
$
15,188
$
1,353
8.9
%
Industrial
13,610
12,742
868
6.8
Office
7,368
6,852
516
7.5
Retail
13,615
12,053
1,562
13.0
Other
61
32
29
90.6
Comparable properties total
$
51,195
$
46,867
$
4,328
9.2
%
Recent acquisitions and sold properties
23,760
3,864
19,896
514.9
Total rental revenue
$
74,955
$
50,731
$
24,224
47.7
%
Other revenue
Residential
$
814
$
730
$
84
11.5
%
Industrial
40
4
36
900.0
Office
293
371
(78)
(21.0)
Retail
72
83
(11)
(13.3)
Other
601
631
(30)
(4.8)
Comparable properties total
$
1,820
$
1,819
$
1
0.1
%
Recent acquisitions and sold properties
396
31
365
1,177
Total other revenue
$
2,216
$
1,850
$
366
19.8
%
Total revenues
$
77,171
$
52,581
$
24,590
46.8
%
Rental revenues at comparable properties increased $4,328 for the three months ended March 31, 2022 as compared to the same period in 2021.  The increase of $1,562 within our retail segment was primarily related to an increase in collections from tenants that experienced a decrease in operations from COVID-19 in 2021 as well as an increase in recovery revenue related to increased operating expenses within the segment during the three months ended March 31, 2022.  The increase in rental
34
revenue from our residential, industrial and office segments are primarily related to higher rental rates and higher occupancy at several of the properties during the three months ended March 31, 2022 as compared to the same period of 2021.
Other revenues relate mainly to parking and nonrecurring revenue such as lease termination fees. Other revenue at comparable properties increased by $1 for the three months ended March 31, 2022 as compared to the same period in 2021. The minimal increase is primarily related to lease termination fees and increased parking revenue collected in 2022 within our residential segment. The increase was offset by a decrease in lease termination revenue of $50 within our office segment related to collections made in the three months ended March 31, 2021 that did not reoccur in 2022.
Operating Expenses
The following chart sets forth real estate taxes and property operating expenses by reportable segment, for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
$
Change
%
Change
Operating expenses:
Real estate taxes
Residential
$
3,026
$
3,049
$
(23)
(0.8)
%
Industrial
2,366
2,237
129
5.8
Office
871
799
72
9.0
Retail
1,671
1,633
38
2.3
Other
113
115
(2)
(1.7)
Comparable properties total
$
8,047
$
7,833
$
214
2.7
%
Recent acquisitions and sold properties
3,264
253
3,011
1,190
Total real estate taxes
$
11,311
$
8,086
$
3,225
39.9
%
Property operating expenses
Residential
$
4,784
$
4,363
$
421
9.6
%
Industrial
1,328
1,235
93
7.5
Office
1,582
1,472
110
7.5
Retail
2,124
2,046
78
3.8
Other
208
194
14
7.2
Comparable properties total
$
10,026
$
9,310
$
716
7.7
%
Recent acquisitions and sold properties
3,975
601
3,374
561.4
Total property operating expenses
$
14,001
$
9,911
$
4,090
41.3
%
Total operating expenses
$
25,312
$
17,997
$
7,315
40.6
%
Real estate taxes at comparable properties increased by $214 for the three months ended March 31, 2022 as compared to the same period in 2021.  Our properties are reassessed periodically by the taxing authorities, which may result in increases or decreases in the real estates taxes that we owe. Overall, we expect real estate taxes to increase over time; however, we utilize real estate tax consultants to attempt to control assessment increases.
Property operating expenses consist of the costs of ownership and operation of the real estate investments, many of which are recoverable under net leases.  Examples of property operating expenses include insurance, utilities and repair and maintenance expenses.  Property operating expenses at comparable properties increased $716 for the three months ended March 31, 2022 as compared to the same period in 2021. The increases in three months ending March 31, 2022 as compared to 2021 generally relate to higher property management fees due to high rents, higher salary costs and higher utility costs in some markets.
35
The following chart sets forth revenues and expenses not directly related to the operations of the reportable segments for the three months ended March 31, 2022 and 2021:
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
$
Change
%
Change
Property general and administrative
$
697
$
660
$
37
5.6
%
Advisor fees
17,858
6,325
11,533
182.3
Company level expenses
1,074
1,193
(119)
(10.0)
Depreciation and amortization
32,974
19,945
13,029
65.3
Interest expense
17,852
9,262
8,590
92.7
(Gain) loss from unconsolidated affiliates and fund investments
(29,025)
339
(29,364)
(8,662)
Investment income on marketable securities
(304)
—
(304)
100.0
Net realized gain upon sale of marketable securities
(79)
—
(79)
100.0
Net unrealized change in fair value of investment in marketable securities
2,984
—
2,984
100.0
Gain on disposition of property and extinguishment of debt, net
(31,492)
(33,422)
1,930
(5.8)
Total revenues and expenses
$
12,539
$
4,302
$
8,237
191.5
%
Property general and administrative expenses relate mainly to property expenses unrelated to the operations of the property. Property general and administrative expenses increased slightly during the three months ended March 31, 2022 as compared to the same period in 2021 primarily due to the increase in the size of the number of properties.
Advisor fees relate to the fixed advisory and performance fees earned by the Advisor. Fixed fees increase or decrease based on changes in our NAV, which is primarily impacted by changes in capital raised and the value of our properties. The performance fee is accrued when the total return per share for a share class exceeds 7% for that calendar year, and in such years our Advisor will receive 10% of the excess total return above the 7% threshold.  The increase in advisor fees of $11,533 for the three months ended March 31, 2022 as compared to the same period in 2021 is primarily related an increase in NAV and to the accrual of a performance fee in the amount of $8,484.
Company level expenses relate mainly to our compliance and administration related costs.  The decrease of $119 in company level expenses for the three months ended March 31, 2022 is primarily related to an decrease in professional fees.
Depreciation and amortization expense is impacted by the values assigned to buildings, personal property and in-place lease assets as part of the initial purchase price allocation. The increase of $13,029 in depreciation and amortization expense for the three months ended March 31, 2022 as compared to the same period in 2021 was primarily related to the acquisition of new properties.
Interest expense increased by $8,590 for the three months ended March 31, 2022 as compared to the same period in 2021 primarily as a result of a $4,523 of increased interest expense from new mortgage notes payable placed on several properties and increased usage of our Credit Facility in 2022 as well as $5,042 increased interest expense on the financial obligations related to the DST Program, which includes non-cash interest expense related to the properties deemed probable for repurchase.  Offsetting the increase were unrealized gains on our interest rate swaps in the amount of $1,985 during the three months ended March 31, 2022 compared to unrealized gains of $939 during the same period of 2021.
Loss from unconsolidated affiliates and fund investments relates to the income from Chicago Parking Garage, Pioneer Tower, The Tremont, The Huntington, Siena Suwanee Town Center and Kingston at McLean Crossing as well as changes in fair value and operating distributions received from our investment in the NYC Retail Portfolio and Single-Family Rental Portfolio. During the three months ended March 31, 2022, we recorded a $25,355 increase in the fair value of our investment in Single-Family Rental Portfolio.  During the three months ended March 31, 2022, we recorded a $1,447 decrease in the fair value of our investment in the NYC Retail Portfolio as compared to an $1,081 increase in the fair value during the same period of 2021.
Investment income on marketable securities relate to dividends earned on our portfolio of publicly traded REIT securities.  We earned $304 on investment income during the three months ended March 31, 2022.
Net realized gain upon the sale of marketable securities relate to sales of individual stocks within our portfolio of publicly traded REIT stocks.  We recorded a realized gain of $79 during the three months ended March 31, 2022.
36
Net unrealized change in fair value of investment in marketable securities relate to changes in fair value of our portfolio of publicly traded REIT securities.  We recorded an unrealized loss of $2,984 during the three months ended March 31, 2022.
Gain on disposition of property and extinguishment of debt, net decreased by $1,930 during three months ending March 31, 2022 as compared to the three months ended March 31, 2021.  During the three months ending March 31, 2022 we disposed of Norfleet Distribution Center and The Edge at Lafayette.  During the three months ended March 31, 2021 we disposed of South Seattle Disposition Center.
37
Funds From Operations
Consistent with real estate industry and investment community preferences, we consider funds from operations ("FFO") as a supplemental measure of the operating performance for a real estate investment trust and a complement to GAAP measures because it facilitates an understanding of the operating performance of our properties. The National Association of Real Estate Investment Trusts ("NAREIT") defines FFO as net income (loss) attributable to the Company (computed in accordance with GAAP), excluding gains or losses from cumulative effects of accounting changes, extraordinary items, impairment write-downs of depreciable real estate and sales of properties, plus real estate related depreciation and amortization and after adjustments for these items related to noncontrolling interests and unconsolidated affiliates.
FFO does not give effect to real estate depreciation and amortization because these amounts are computed to allocate the cost of a property over its useful life.   We also use Adjusted FFO ("AFFO") as a supplemental measure of operating performance.  We define AFFO as FFO adjusted for straight-line rental income, amortization of above- and below-market leases, amortization of net discount on assumed debt, gains or losses on the extinguishment and modification of debt, performance fees based on the investment returns on shares of our common stock and acquisition expenses. Because values for well-maintained real estate assets have historically increased or decreased based upon prevailing market conditions, we believe that FFO and AFFO provide investors with an additional view of our operating performance.
In order to provide a better understanding of the relationship between FFO, AFFO and GAAP net income, the most directly comparable GAAP financial reporting measure, we have provided reconciliations of GAAP net income attributable to Jones Lang LaSalle Income Property Trust, Inc. to FFO, and FFO to AFFO. FFO and AFFO do not represent cash flow from operating activities in accordance with GAAP, should not be considered alternatives to GAAP net income and are not measures of liquidity or indicators of our ability to make cash distributions. We believe that to more comprehensively understand our operating performance, FFO and AFFO should be considered along with the reported net income attributable to Jones Lang LaSalle Income Property Trust, Inc. and our cash flows in accordance with GAAP, as presented in our consolidated financial statements.  Our presentations of FFO and AFFO are not necessarily comparable to the similarly titled measures of other REITs due to the fact that not all REITs use the same definitions.
The following table presents a reconciliation of the most comparable GAAP amount of net income attributable to Jones Lang LaSalle Income Property Trust, Inc. to NAREIT FFO for the periods presented:
Reconciliation of GAAP net income to NAREIT FFO
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
Net income attributable to Jones Lang LaSalle Income Property Trust, Inc. Common Stockholders
(1)
$
37,935
$
30,105
Real estate depreciation and amortization
(1)
35,189
23,422
Gain on disposition of property and unrealized gain on investment in unconsolidated real estate affiliate
(1)
(53,588)
(34,416)
NAREIT FFO attributable to Jones Lang LaSalle Income Property Trust, Inc. Common Stockholders
$
19,536
$
19,111
Weighted average shares outstanding, basic and diluted
212,104,884
174,765,072
NAREIT FFO per share, basic and diluted
$
0.09
$
0.11
________
(1)    Excludes amounts attributable to noncontrolling interests and includes our ownership share of both consolidated properties and unconsolidated real estate affiliates.
38
We believe AFFO is useful to investors because it provides supplemental information regarding the performance of our portfolio over time.
The following table presents a reconciliation of NAREIT FFO to AFFO for the periods presented:
Reconciliation of NAREIT FFO to AFFO
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
NAREIT FFO attributable to Jones Lang LaSalle Income Property Trust, Inc. Common Stockholders
$
19,536
$
19,111
Straight-line rental income
(1)
(1,687)
(595)
Amortization of above- and below-market leases
(1)
(818)
(762)
Amortization of net discount on assumed debt
(1)
(333)
(58)
Gain on derivative instruments and extinguishment or modification of debt
(1)
(4,462)
(776)
Adjustment for investments accounted for under the fair value option
(2)
1,432
444
Net unrealized change in fair value of investment in marketable securities
(1)
2,886
—
Performance fees
(1)
8,207
—
Acquisition expenses
(1)
35
108
Adjustment for DST Program properties
(3)
477
(1,327)
AFFO attributable to Jones Lang LaSalle Income Property Trust, Inc. Common Stockholders
$
25,273
$
16,145
Weighted average shares outstanding, basic and diluted
212,104,884
174,765,072
AFFO per share, basic and diluted
$
0.12
$
0.09
________
(1)    Excludes amounts attributable to noncontrolling interests and includes our ownership share of both consolidated properties and unconsolidated real estate affiliates.
(2)    Represents the normal and recurring AFFO reconciling adjustments for the NYC Retail Portfolio and Single-Family Rental Portfolio.
(3)    Adjustments to reflect the AFFO attributable to the Company for DST Program properties.  Prior periods adjusted to conform to current period presentation.
39
NAV as of March 31, 2022
The following table provides a breakdown of the major components of our NAV as of March 31, 2022:
March 31, 2022
Component of NAV
Class A Shares
Class M Shares
Class A-I Shares
Class M-I Shares
Class D Shares
Total
Real estate investments
(1)
$
2,425,928
$
875,516
$
217,131
$
1,433,230
$
140,196
$
5,092,001
Debt
(965,835)
(348,569)
(86,446)
(570,612)
(55,816)
(2,027,278)
Other assets and liabilities, net
80,620
29,095
7,216
47,630
4,659
169,220
Estimated enterprise value premium
None assumed
None assumed
None assumed
None assumed
None assumed
None assumed
NAV
$
1,540,713
$
556,042
$
137,901
$
910,248
$
89,039
$
3,233,943
Number of outstanding shares
104,576,961
37,681,185
9,335,732
61,681,208
6,041,611
NAV per share
$
14.73
$
14.76
$
14.77
$
14.76
$
14.74
________
(1)
The value of our real estate investments was greater than the historical cost by 9.8% as of March 31, 2022.
The following table provides a breakdown of the major components of our NAV as of December 31, 2021:
December 31, 2021
Component of NAV
Class A Shares
Class M Shares
Class A-I Shares
Class M-I Shares
Class D Shares
Total
Real estate investments
(1)
$
2,307,210
$
842,232
$
216,341
$
1,217,062
$
173,358
$
4,756,203
Debt
(988,699)
(360,918)
(92,708)
(521,543)
(74,289)
(2,038,157)
Other assets and liabilities, net
37,998
13,871
3,563
20,044
2,856
78,332
Estimated enterprise value premium
None assumed
None assumed
None assumed
None
assumed
None assumed
None assumed
NAV
$
1,356,509
$
495,185
$
127,196
$
715,563
$
101,925
$
2,796,378
Number of outstanding shares
100,038,362
36,458,191
9,356,309
52,676,693
7,513,281
NAV per share
$
13.56
$
13.58
$
13.59
$
13.58
$
13.57
________
(1)
The value of our real estate investments was greater than the historical cost by 3.6% as of December 31, 2021.
The increase in NAV per share from December 31, 2021 to March 31, 2022, was related to a net increase of 5.9% in the value of our portfolio.  Property operations for the three months ended March 31, 2022 had an insignificant impact on NAV as dividends declared offset property operations for the period.  Our NAV for the different share classes is reduced by normal and recurring class-specific fees and offering and organization costs.
40
The following are key assumptions (shown on a weighted-average basis) that are used in the discounted cash flow models to estimate the value of our real estate investments as of March 31, 2022:
Industrial
Office
Residential
Retail
Other
(1)
Total
Company
Exit capitalization rate
4.44
%
5.30
%
4.39
%
5.49
%
6.25
%
4.71
%
Discount rate/internal rate of return (IRR)
5.60
6.16
5.86
6.36
7.80
5.91
Annual market rent growth rate
3.44
2.86
3.30
2.76
3.07
3.20
Holding period (years)
10.00
10.00
10.00
10.00
21.68
10.08
________
(1)    Other includes two standalone parking garages.  South Beach Parking Garage is subject to a ground lease and the appraisal incorporates discounted cash flows over its remaining lease term and therefore does not utilize an exit capitalization rate.
The following are key assumptions (shown on a weighted-average basis) that are used in the discounted cash flow models to estimate the value of our real estate investments as of December 31, 2021:
Industrial
Office
Residential
Retail
Other
(1)
Total
Company
Exit capitalization rate
4.61
%
5.54
%
4.51
%
5.49
%
6.25
%
4.85
%
Discount rate/internal rate of return (IRR)
5.62
6.32
5.94
6.42
7.80
5.99
Annual market rent growth rate
3.30
2.77
3.31
2.74
3.07
3.14
Holding period (years)
10.00
10.00
10.00
10.00
21.83
10.09
________
(1)    Other includes Chicago and South Beach parking garages.  South Beach Parking Garage is subject to a ground lease, the appraisal incorporates discounted cash flows over its remaining lease term and therefore does not utilize an exit capitalization rate.
While we believe our assumptions are reasonable, a change in these assumptions would impact the calculation of the value of our real estate investments. For example, assuming all other factors remain unchanged, the changes listed below would result in the following effects on our real estate investment value:
Input
March 31, 2022
December 31, 2021
Discount Rate - weighted average
0.25% increase
(1.8)
%
(1.7)
%
Exit Capitalization Rate - weighted average
0.25% increase
(3.2)
(2.8)
Annual market rent growth rate - weighted average
0.25% decrease
(1.4)
(1.2)
The fair value of our mortgage notes and other debt payable was estimated to be approximately $67,899 lower and $4,054 higher than the carrying values at March 31, 2022 and December 31, 2021, respectively. The NAV per share would have increased by $0.31 and decreased by $0.02 per share at March 31, 2022 and December 31, 2021, respectively, if we were to have included the fair value of our mortgage notes and other debt payable in our methodology to determine NAV.
The selling commission and dealer manager fee are offering costs and are recorded as a reduction of capital in excess of par value.  Selling commissions are paid on the date of sale of our common stock.  We accrue all future dealer manager fees up to the ten percent regulatory limit on the date of sale of our common stock.  For NAV calculation purposes, dealer manger fees are accrued daily, on a continuous basis equal to 1/365th of the stated fee.  Dealer manager fees payable are included in accrued offering costs on our Consolidated Balance Sheets.  Dealer manager fees payable as of March 31, 2022 and December 31, 2021 were $152,529 and $135,663, respectively.
41
The following table reconciles stockholders' equity per our Consolidated Balance Sheet to our NAV:
March 31, 2022
Stockholders' equity under GAAP
$
1,919,120
Adjustments:
Accrued dealer manager fees
(1)
151,016
Organization and offering costs
(2)
698
Unrealized real estate appreciation
(3)
816,793
Accumulated depreciation, amortization and other
(4)
346,316
NAV
$
3,233,943
________
(1)    Accrued dealer manager fees represents the accrual for future dealer manager fees for Class A, Class M and Class A-I shares. We accrue all future dealer manager fees up to the ten percent regulatory limit on the date of sale of our common stock as an offering cost.  For NAV calculation purposes, dealer manger fees are accrued daily, on a continuous basis equal to 1/365th of the stated fee.
(2)    The Advisor advanced organization and offering costs on our behalf through March 31, 2022. Such costs are reimbursed to the Advisor ratably over 36 months. Under GAAP, organization costs are expensed as incurred and offering costs are charged to equity as such amounts are incurred. For NAV, such costs are recognized as a reduction to NAV ratably over 36 months.
(3)    Our investments in real estate are presented under historical cost in our GAAP Consolidated Financial Statements. As such, any increases in the fair market value of our investments in real estate are not included in our GAAP results. For purposes of determining our NAV, our investments in real estate are recorded at fair value.
(4)    We depreciate our investments in real estate and amortize certain other assets and liabilities in accordance with GAAP. Such depreciation and amortization is not recorded for purposes of determining our NAV.  Additionally, we make other fair value adjustments to our NAV to account for differences with historical cost GAAP; an example would be straight-line rent revenue.
Limitations and Risks
As with any valuation methodology, our methodology is based upon a number of estimates and assumptions that may not be accurate or complete.  Our valuation methodology may not result in the determination of the fair value of our net assets as our mortgage notes and other debt payable are valued at cost.  Different parties with different assumptions and estimates could derive a different NAV per share. Accordingly, with respect to our NAV per share, we can provide no assurance that:
•
a stockholder would be able to realize this NAV per share upon attempting to resell his or her shares;
•
we would be able to achieve for our stockholders the NAV per share upon a listing of our shares of common stock on a national securities exchange, selling our real estate portfolio or merging with another company; or
•
the NAV per share, or the methodologies relied upon to estimate the NAV per share, will be found by any regulatory authority to comply with any regulatory requirements.
Furthermore, the NAV per share was calculated as of a particular point in time. The NAV per share will fluctuate over time in response to, among other things, changes in real estate market fundamentals, capital markets activities and attributes specific to the properties and leases within our portfolio.
42
Liquidity and Capital Resources
Our primary uses and sources of cash are as follows:
Uses
Sources
Short-term liquidity and capital needs such as:
•
Operating cash flow, including the receipt of distributions of our share of cash flow produced by our unconsolidated real estate affiliates and fund investment
•
Interest payments on debt
•
Distributions to stockholders
•
Proceeds from secured loans collateralized by individual properties
•
Fees payable to our Advisor
•
Minor improvements made to individual properties that are not recoverable through expense recoveries or common area maintenance charges to tenants
•
Proceeds from our Revolving Credit Facility
•
Sales of our shares
•
General and administrative costs
•
Sales of real estate investments
•
Costs associated with capital raising in our continuous public offering, private offering and DST Program
•
Proceeds from our private offering
•
Other Company level expenses
•
Draws from lender escrow accounts
•
Lender escrow accounts for real estate taxes, insurance, and capital expenditures
•
Sales of beneficial interests in the DST Program
•
Fees payable to our Dealer Manager
Longer-term liquidity and capital needs such as:
•
Acquisitions of new real estate investments
•
Expansion of existing properties
•
Tenant improvements and leasing commissions
•
Debt repayment requirements, including both principal and interest
•
Repurchases of our shares pursuant to our share repurchase plan
•
Fees payable to our Advisor
•
Fees payable to our Dealer Manager
The sources and uses of cash for the three months ended March 31, 2022 and 2021 were as follows:
Three Months Ended March 31, 2022
Three Months Ended March 31, 2021
$ Change
Net cash (used in) provided by operating activities
$
(
13,731
)
$
17,172
$
(30,903)
Net cash used in investing activities
(
84,689
)
(166,868)
82,179
Net cash provided by financing activities
162,514
121,042
41,472
Net cash (used in) provided by operating activities decreased by $30,900 for the three months ended March 31, 2022 as compared to the same period in 2021.  The decrease in cash from operating activities is primarily due to the payment of the performance fee earned in 2021 in the amount of $36,711 offset by increase in cash from new acquisitions as well as increased rent collections from several tenants primarily in our retail segment.
Net cash used in investing activities decreased by $82,179 for the three months ended March 31, 2022 as compared to the same period in 2021.  The decrease was primarily related to decreased acquisitions made during the three months ended March 31, 2022 as compared to the same period in 2021.
Net cash provided by financing activities decreased by $41,469 for the three months ended March 31, 2022 as compared to the same period in 2021.  The change is primarily related to an increase of $65,796 in stock issuance during the three months ended March 31, 2022 as compared to the same period in 2021. Offsetting the increase was $29,252 less of net proceeds from mortgage notes and other debt payment during the three months ended March 31, 2022 as compared to the same period in 2021.
43
Financing
We have relied primarily on fixed-rate financing, locking in what were favorable spreads between real estate income yields and mortgage interest rates and have tried to maintain a balanced schedule of debt maturities. We also use interest rate derivatives to manage our exposure to interest rate movements on our variable rate debt. The following consolidated debt table provides information on the outstanding principal balances and the weighted average interest rates at March 31, 2022 and December 31, 2021:
Consolidated Debt
March 31, 2022
December 31, 2021
Principal
Balance
Weighted Average Interest Rate
Principal
Balance
Weighted Average Interest Rate
Fixed
$
1,322,079
3.33
%
$
1,268,220
3.37
%
Variable
496,400
1.91
551,400
1.71
Total
$
1,818,479
2.94
%
$
1,819,620
2.86
%
Covenants
At March 31, 2022, we were in compliance with all debt covenants.
Other Sources
On December 21, 2021, our Current Public Offering registration statement was declared effective with the SEC (Commission File No. 333-256823) to register up to $3,000,000 in any combination of shares of our Class A, Class M, Class A-I and Class M-I common stock, consisting of up to $2,700,000 of shares offered in our primary offering and up to $300,000 in shares offered pursuant to our distribution reinvestment plan. We intend to offer shares of our common stock on a continuous basis for an indefinite period of time by filing a new registration statement before the end of each three-year offering period, subject to regulatory approval. We intend to use the net proceeds from the Current Public Offering, which are not used to pay the fees and other expenses attributable to our operations, to (1) grow and further diversify our portfolio by making investments in accordance with our investment strategy and policies, (2) repay indebtedness incurred under various financing instruments and (3) fund repurchases under our share repurchase plan.
On March 3, 2015, we commenced the Private Offering of up to $350,000 in shares of our Class D common stock with an indefinite duration. Proceeds from our Private Offering will be used for the same corporate purposes as the proceeds of our public offerings.  We will reserve the right to terminate the Private Offering at any time and to extend the Private Offering term to the extent permissible under applicable law.
On October 16, 2019, we through our operating partnership, initiated the DST Program to raise up to $500,000, which our board of directors increased to $1,000,000 on August 10, 2021, in private placements exempt from registration under the Securities Act, as amended, through the sale of beneficial interests to accredited investors in specific DSTs holding real properties, which may be sourced from our real properties or from third parties.
Contractual Cash Obligations and Commitments
From time to time, we enter into contingent agreements for the acquisition and financing of properties.  Such acquisitions and financings are subject to satisfactory completion of due diligence or meeting certain leasing or occupancy thresholds.
We are subject to fixed ground lease payments on South Beach Parking Garage of $112 per year until September 30, 2024 and these payments will increase every five years thereafter by the lesser of 12% or the cumulative CPI over the previous five year period. We are also subject to a variable ground lease payment calculated as 2.5% of revenue. The lease expires September 30, 2041 and has a ten-year renewal option.
The operating agreement for Grand Lakes Marketplace allows the unrelated third party joint venture partner, owning a 10% interest, to put its interest to us at a market determined value.
The operating agreement for 237 Via Vera Cruz, 13500 Danielson Street, 4211 Starboard, 2840, Loaker Avenue and 15890 Bernardo Center Drive allows the unrelated third party joint venture partner, owning a 5% interest, to put its interest to us at a market determined value starting July 31, 2024.
The operating agreement for Presley Uptown allows the unrelated third party joint venture partner, owning a 2.5% interest, to put its interest to us at a market determined value starting September 30, 2022 until September 30, 2024.
44
Off Balance Sheet Arrangements
None.
Distributions to Stockholders
To remain qualified as a REIT for federal income tax purposes, we must distribute or pay tax on 100% of our capital gains and distribute at least 90% of ordinary taxable income to stockholders.
The following factors, among others, will affect operating cash flow and, accordingly, influence the decisions of our board of directors regarding distributions:
•
scheduled increases in base rents of existing leases;
•
changes in minimum base rents and/or overage rents attributable to replacement of existing leases with new or renewal leases;
•
changes in occupancy rates at existing properties and procurement of leases for newly acquired or developed properties;
•
necessary capital improvement expenditures or debt repayments at existing properties;
•
ability of our tenants to pay rent as a result of the impact of COVID-19 on their financial condition; and
•
our share of distributions of operating cash flow generated by the unconsolidated real estate affiliates, less management costs and debt service on additional loans that have been or will be incurred.
We anticipate that operating cash flow, cash on hand, proceeds from dispositions of real estate investments or refinancings will provide adequate liquidity to conduct our operations, fund general and administrative expenses, fund operating costs and interest payments and allow distributions to our stockholders in accordance with the REIT qualification requirements of the Internal Revenue Code of 1986, as amended.
Item 3.
Quantitative and Qualitative Disclosures About Market Risk.
We are subject to market risk associated with changes in interest rates in terms of our variable-rate debt and the price of new fixed-rate debt for refinancing of existing debt. We manage our interest rate risk exposure by obtaining fixed-rate loans where possible as well as by entering into interest rate cap and swap agreements. As of March 31, 2022, we had consolidated debt of $1,818,479. Including the $1,523 net debt discount on assumed debt and debt issuance costs, we have consolidated debt of $1,816,956 at March 31, 2022. We also entered into interest rate swap agreements on $190,000 of debt, which cap the LIBOR rate at between 1.4% and 2.6%. A 0.25% movement in the interest rate on the $496,400 of variable-rate debt would have resulted in a $1,241 annualized increase or decrease in consolidated interest expense and cash flow from operating activities.
We are subject to interest rate risk with respect to our fixed-rate financing in that changes in interest rates will impact the fair value of our fixed-rate financing. To determine fair market value, the fixed-rate debt is discounted at a rate based on an estimate of current lending rates, assuming the debt is outstanding through maturity and considering the collateral. At March 31, 2022, the fair value of our consolidated debt was estimated to be $67,899 lower than the carrying value of $1,818,479 If treasury rates were 0.25% higher as of March 31, 2022, the fair value of our consolidated debt would have been $72,029 lower than the carrying value.
Item 4.
Controls and Procedures.
Evaluation of Disclosure Controls and Procedures
Under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), as of the end of the period covered by this report. Based on management's evaluation as of March 31, 2022, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were effective to provide reasonable assurance that the information required to be disclosed by us in our reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms and such information is accumulated and
45
communicated to management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure.
Changes in Internal Control Over Financial Reporting
There have not been any changes in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Securities and Exchange Act of 1934, as amended) during the quarter ended March 31, 2022 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. We have not experienced any material impact to our internal control over financial reporting to date as a result of most of the employees of our Advisor and its affiliates working remotely due to the COVID-19 pandemic.
PART II
OTHER INFORMATION
Item 1.
Legal Proceedings.
We are involved in various claims and litigation matters arising in the ordinary course of business, some of which involve claims for damages. Many of these matters are covered by insurance, although they may nevertheless be subject to deductibles or retentions. Although the ultimate liability for these matters cannot be determined, based upon information currently available, we believe the ultimate resolution of such claims and litigation will not have a material adverse effect on our financial position, results of operations or liquidity.
Item 1A.
Risk Factors.
There have been no material changes to the risk factors previously disclosed under "Item 1A. Risk Factors" 2021 Form 10-K.
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds.
Issuer Purchases of Equity Securities
Our share repurchase plan limits repurchases during any calendar quarter to shares with an aggregate value (based on the repurchase price per share on the day the repurchase is effected) of 5% of the combined NAV of all classes of shares as of the last day of the previous calendar quarter, which means that in any 12-month period, we limit repurchases to approximately 20% of our total NAV. If the quarterly volume limitation is reached on or before the third business day of a calendar quarter, repurchase requests during the next quarter will be satisfied on a stockholder by stockholder basis, which we refer to as a "per stockholder allocation," instead of a first-come, first-served basis. Pursuant to the per stockholder allocation, each of our stockholders would be allowed to request repurchase at any time during such quarter of a total number of shares not to exceed 5% of the shares of common stock the stockholder held as of the end of the prior quarter. The per stockholder allocation requirement will remain in effect for each succeeding quarter for which the total repurchases for the immediately preceding quarter exceeded four percent of our NAV on the last business day of such preceding quarter. If total repurchases during a quarter for which the per stockholder allocation applies are equal to or less than four percent of our NAV on the last business day of such preceding quarter, then repurchases will again be first-come, first-served for the next succeeding quarter and each quarter thereafter.
During the three months ended March 31, 2022, we repurchased 3,012,118 shares of common stock under the share repurchase plan.
Period
Total Number of Shares Purchased
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Maximum Number of Shares that May Yet Be Purchased Pursuant to the Program (1)
January 1 - January 31, 2022
1,931,656
$
13.52
1,931,656
—
February 1 - February 28, 2022
531,858
13.73
531,858
—
March 1 - March 31, 2022
548,604
14.29
548,604
—
Total
3,012,118
$
13.70
3,012,118
—
________
46
(1)     Repurchases are limited as described above.
Unregistered Sales of Equity Securities
On March 3, 2015, we commenced the Private Offering of up to $350,000 in shares of our Class D common stock with an indefinite duration. No Class D shares were issued during the three months ended March 31, 2022.
Item 3.
Defaults Upon Senior Securities.
Not applicable.
Item 4.
Mine Safety Disclosures.
Not applicable.
Item 5.
Other Information.
None.
47
Item 6.
Exhibits.
Exhibit No.
Description
31.1
*
Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2
*
Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1
*
Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2
*
Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS*
XBRL Instance Document
101.SCH*
XBRL Schema Document
101.CAL*
XBRL Calculation Linkbase Document
101.DEF*
Definition Linkbase Document
101.LAB*
XBRL Labels Linkbase Document
101.PRE*
XBRL Presentation Linkbase Document
104*
Cover Page Intereactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in Exhibits 101)
__________
*    Filed herewith.
48
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant, Jones Lang LaSalle Income Property Trust, Inc., has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
JONES LANG LASALLE INCOME PROPERTY TRUST, INC.
Date:
May 16, 2022
By:
/s/ C. Allan Swaringen
C. Allan Swaringen
President, Chief Executive Officer
JONES LANG LASALLE INCOME PROPERTY TRUST, INC.
Date:
May 16, 2022
By:
/s/ Gregory A. Falk
Gregory A. Falk
Chief Financial Officer and Treasurer
49