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News release

Ft. Lauderdale, FL.

Jones Lang LaSalle Markets Luxury Apartment Community for Sale in Fort Lauderdale

The Falls at Marina Bay is an ultra-exclusive waterfront multifamily community with marina views


FORT  LAUDERDALE, FL, May 31, 2011 –  On behalf of a partnership of Taplin Development and Real Estate Capital Partners, Jones Lang LaSalle today announced the firm has been hired to market the ultra-exclusive waterfront multifamily community collectively known as The Falls at Marina Bay for sale in Fort Lauderdale.  The 168-slip world-class marina and a 2.41 acre development site is expected to fetch in excess of $85 million.

Leading the Jones Lang LaSalle team on this assignment are Managing Directors Denny St. Romain, Jubeen Vaghefi and Jeff Morris and Vice President Steve Echelson.

“This offering represents a generational opportunity and an exceptional chance for investors to own an irreplaceable asset in the South Florida marketplace,” said St. Romain.  “We expect this property to appeal to investors who are attracted by its strong occupancy rates, stable in-place income and high barriers to entry.”

Located on the south fork of the New River, The Falls at Marina Bay offers distinctive river and marina views as well as premium finishes typically found in custom single-family homes.  The world-class marina offers 168 boat slips with a state-of-the-art, non-piling floating dock system that accommodates boats and mega-yachts from 24 to 150 feet.  It has deep water access to the Intracoastal Waterway, four miles to the east, and the Atlantic Ocean, six miles to the east.  The property also boasts a dockside restaurant and the Marina Bay Clubhouse, a “best-in-class” 10,000 square foot clubhouse that features a heated lagoon-style pool, grand room with 10-foot fountain, indoor racquetball, sauna with massage center, extensive fitness center, exercise room/classes, movie/sports theatre room, billiards, business center, English pub, coffeehouse, and conference facilities with video viewing capabilities.   The property is located at 2600 Marina Bay Drive East and is currently 98 percent occupied.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for its clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In the last three years, Jones Lang LaSalle Capital Markets completed more than $143 billion transactions globally. The firm’s Capital Markets team comprises approximately 1,500 specialists, operating in 180 major markets worldwide. 

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $43 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.