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News release

HOUSTON, TX

Jones Lang LaSalle Markets The Lodge at Kingwood for Sale in Houston Submarket

Class A apartment community just 20 minutes from downtown Houston


HOUSTON, Oct. 03, 2011 — Jones Lang LaSalle today announced the firm’s Capital Markets experts have been chosen by LNR to market The Lodge at Kingwood for sale in the Houston submarket of Kingwood, Texas.  The 312-unit apartment community will be an all-cash sale and should fetch nearly $30 million.

Leading the Jones Lang LaSalle team on this transaction is Managing Directors Greg Austin and Chip Nash and Vice Presidents Sean Clancy and Wade Schmitz.  Executive Managing Director Tom Fish and Vice President Catherine Justice will provide financing expertise.

“Houston continues to have one of the strongest economies in the nation and an equally strong multifamily market,” said Austin.  “We expect to see a wide variety of investors vie for this stellar core property.”

The Lodge at Kingwood is located at 938 Kingwood Drive in Kingwood, Texas, with close proximity to Interstate 59.  It is just 20 minutes from downtown Houston.  The gated community was built in 1999 and offers a resort-style swimming pool, a state-of-the-art fitness center with a rock climbing wall, a billiards room and a 32-seat stadium-style movie theatre along with picnic areas, BBQ grills and detached garages and carports.  The property is nearly 94 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 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 70 countries from more than 1,000 locations worldwide, including 200 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 $45.3 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.