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News release

Washington, D.C.

Jones Lang LaSalle Markets Park Triangle for Sale in Washington, D.C. Submarket of Columbia Heights

Luxury, class A 117-unit apartment community with 18,500 square feet of ground-level retail


WASHINGTON, D.C., July 7, 2011 – Jones Lang LaSalle today announced the firm has been chosen to market for sale the apartment community known as Park Triangle on behalf of the Mid-Atlantic Multifamily Group. The 117-unit, luxury, Class A apartment community, with 18,500 square feet of ground-level retail, is located in the Columbia Heights submarket of Washington, D.C. 

Leading the Jones Lang LaSalle team on this transaction are Managing Directors Al Cissel and Scott Melnick.

“The Metro Washington D.C. area remains one of the top economies in the country, and Columbia Heights is an attractive submarket with strong fundamentals,” said Cissel. “Park Triangle is an exceptional multifamily offering for investors who are seeking an exclusive opportunity to increase their multifamily portfolio as well as those seeking rent growth.” 

The 138,279 square-foot mixed-use property was built in 2006 and is situated in the dynamic Columbia Heights submarket which affords residents convenient access to metro Washington, D.C. The property features a blend of ground-level retail tenants, 117-residential units, and a rooftop terrace with unparalleled state-of-the-art amenities package in one of the nation’s most desirable markets. 

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. Jones Lang LaSalle’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.