JLL Income Property Trust Adds Roseville Medical Center to Portfolio
JLL Income Property Trust has expanded its $7 billion real estate portfolio with the $19 million acquisition of the Roseville Outpatient Center in California. The 42,000-square-foot medical facility, fully redeveloped in 2024, sits in an affluent suburb of Sacramento and is currently 95% leased to healthcare tenants.
The single-story property maintains a weighted average lease term of approximately 12 years and occupies a strategic position just half a mile from a larger hospital campus. Its recent redevelopment included specialized buildouts designed to support intensive medical use, a factor that Allan Swaringen, President and CEO of JLL Income Property Trust, views as essential for meeting modern healthcare demands.
Swaringen noted that shifting patient preferences toward outpatient care, combined with high barriers to entry for new medical construction, drove the decision to acquire the asset. The Roseville center joins an existing healthcare segment within the REIT that now spans 26 properties valued at $667 million. This acquisition reflects the firm’s broader strategy of targeting purpose-built facilities in regions characterized by strong population growth and rising median household incomes.
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