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News release

PHOENIX, AZ

Jones Lang LaSalle Expands Multifamily Expertise to Phoenix

John Cunningham joins as Executive Vice President


PHOENIX, Nov. 30, 2011 — In response to a surge in multifamily transactions not seen in the Phoenix market for nearly four years and corresponding client demand, Jones Lang LaSalle’s Capital Markets today announced the firm has hired leading apartment expert John Cunningham to steer the multifamily investment sales practice in the region. 
Cunningham joins the firm as an Executive Vice President and will lead the firm’s growth strategy in this expanding market under the direction of Managing Director David Young, leader of the firm’s West Coast multifamily investment sales practice.

“With the unemployment rate falling and the economy stabilizing, rents have been steadily increasing in the Phoenix market, making multifamily increasingly attractive to investors,” said Young.  “John has invested more than 25 years in the Phoenix market, a majority of which has been spent solely focused on multifamily.  He is a fantastic addition to our team who will be able to immediately respond to client demands.”

“We continue to round out our multifamily expertise in strategic markets across the country and Phoenix has long been a key target for us,” said Jubeen Vaghefi, Managing Director and leader of the firm’s national multifamily investment sales team.  “Bringing John in to steer our apartment’s expertise in this growing region is key to our expansion strategy.” 

 During his more than 25 year career, Cunningham has held various leadership positions at several institutional multifamily companies such as Alliance Residential, Camden Property Trust, and United Dominion Realty Trust and has been responsible for the acquisition and sale of more than 10,000 multifamily housing units totalling more than $2 billion.  He earned his bachelor’s degree from the University of Arizona.

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 $47.9 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.