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News release

Birmingham, AL.

Jones Lang LaSalle Secures $70 Million Refinancing for Stonegate Real Estate Investments, LLC

Wells Fargo provides loans for two Class A offices in Birmingham and Oklahoma City


BIRMINGHAM, AL and OKLAHOMA CITY, OK, June 23, 2011 — On behalf of Stonegate Real Estate Investments, LLC, Jones Lang LaSalle today announced the firm has secured $70 million for the refinancing of two Class A office properties in Birmingham, Alabama, and Oklahoma City, Oklahoma.  The properties include the four-building Urban Center Office Portfolio in Birmingham and the Quail Springs Parkway Plaza in Oklahoma City.  Wells Fargo provided the two 10-year, fixed-rate senior mortgage notes.

Leading the Jones Lang LaSalle team on this transaction is Executive Managing Director and leader of the Real Estate Investment Banking team Tom Melody and Senior Vice President Jimmy Board, in conjunction with Managing Director Chris Marshall and Senior Vice President Ralph Smalley.   

“We secured a great deal of interest from a number of CMBS lenders, but Wells Fargo, in particular,  was attracted to these assets due to their 'best in class' nature, long-term ownership, and strong and diversified tenancy,” said Board.  “Wells Fargo provided extremely competitive pricing and terms and was able to close quickly on the transaction.”

The Urban Center Office Portfolio is comprised of four Class A office buildings and is located in a prestigious, 4,000-acre mixed-use planned community known as Liberty Park.  Quail Springs Parkway Plaza is a 298,510-square-foot Class A office building in north/northwest Oklahoma City.  It is located within the Quail Springs Corporate Park, a 125-acre master-planned, mixed-use commercial park.  

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 our clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2010 alone, Jones Lang LaSalle Capital Markets completed $43 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $33 billion in global investment sales and buy-side transactions, equating to nearly $140 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its office broker volumes by 257 percent in 2010 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises approximately 800 specialists, operating in 185 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 more than 1,000 locations worldwide, including 185 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.