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News release

Chicago, IL.

Jones Lang LaSalle Closes ~$240M Sale of Industrial Portfolio in Midwest, Southeast

Exeter Property Group purchases 19 industrial distribution facilities from Pinchal & Company


CHICAGO, July 7, 2011 — Jones Lang LaSalle today announced the firm’s Capital Markets experts have closed the sale of a 19-building portfolio of core industrial distribution facilities for Pinchal & Company, in partnership with American National Insurance Company (ANICO) and ANTAC, a wholly-owned subsidiary of ANICO. The Class A properties are located in major distribution markets across the Midwest and Southeast. Exeter Property Group purchased the 6.0-million-square-foot portfolio for approximately $240 million.

Leading the Jones Lang LaSalle team on this transaction was Managing Director and national head of industrial capital markets John Huguenard and Peter Harwood, Garry Weiss and Sean Devaney.

“This high quality portfolio received a great deal of interest from investors all over the globe who are seeking properties in the industrial sector where they can achieve not only reliable cash flow but also higher yields than the current very low cap rates in other sectors,” said Huguenard. “Right now, the industrial sector is one of the hottest property types on the market and we expect that interest to remain high as transaction levels are set to double in 2011 compared to 2010.”

The portfolio is more than 98 percent occupied and is comprised of 27 high-quality tenants, a majority of which are publicly traded or credit-rated companies. The average remaining lease term is 5.8 years.

“John and his Jones Lang LaSalle team did a phenomenal job securing interest from more than 100 investors for this portfolio,” said Mace Pinchal, Principal and Founder of Pinchal & Company. “But their creativity and ingenuity was truly reflected during the extended marketing process as they navigated numerous challenges. We could not have been more pleased with their persistence and dedication.”

“We are very pleased to complete this transaction,” said Tim Weber, CFO and Managing Principal of Exeter. “Our partner/investors, who are amongst the largest and most sophisticated pension funds, endowments and insurance companies from around the world, look to us to create market diverse, high product and tenant quality portfolios that meet their value-add return requirements. This portfolio presented by Pinchal & Company and Jones Lang LaSalle has significantly assisted us in meeting our partner’s objectives.”

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.