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News release

San Diego, CA.

Jones Lang LaSalle Strengthens Multifamily Expertise in Southern California

Darcy Miramontes to steer multifamily investment sales growth strategy in San Diego office


SAN DIEGO, June 21, 2011 – Higher occupancies and rising rental rates in the Southern California apartment market are creating a significant demand for investment sales expertise, and today Jones Lang LaSalle announced it has taken great strides to satisfy that demand with the hiring of one of San Diego’s top multifamily experts Darcy Miramontes.  Miramontes joins the firm as an Executive Vice President in the Capital Markets business and will steer the firm’s growth strategy in this pivotal market, working under the direction of Managing Director David Young, leader of the firm’s West Coast multifamily investment sales practice.  She will also partner with Irvine-based Managing Director Joe Leon, who joined the Capital Markets team in May.  

“We’ve seen huge cap rate compression in Southern California as investors angle for core properties in the coastal markets,” said Young.  “There is no doubt Darcy will hit the ground running as we seek to satisfy increasing client demands in this very hot sector of the market.”

“With more than 60 new hires to the multifamily team in the past two years, Jones Lang LaSalle has sent a clear message that the firm intends to dominate this market,” said Jubeen Vaghefi, leader of the firm’s national multifamily investment sales team.  “Darcy has already made a huge impact in the Southern California market and we expect even greater things in the future from this well respected rising star as she taps her connections within the community and creates new inroads for clients.”

Miramontes has spent the past 10 years as an investment and multifamily sales specialist at a major commercial real estate firm, responsible for the sale of more than 8,000 multifamily housing units totalling more than $720 million.  She earned her bachelor of arts degree from the University of California, Santa Barbara and her juris doctor from Loyola Law School, Los Angeles.  

Additionally, Diane Miramontes will join the firm as Executive Vice President.  She has been responsible for the sale of more than 18,000 multifamily housing units totalling more than $1.25 billion during her career and earned her bachelor of science degree from San Diego State University.

They will also be joined by Vice President Kip Malo, who has spent the past five years as an investment and multifamily sales specialist with a major commercial real estate firm.  He earned his bachelor of arts from Johns Hopkins University and is a member of the Urban Land Institute (ULI).
  
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.