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News release


Jones Lang LaSalle Orchestrates Sale of Monarch at Shadowridge in San Diego

Sale marks only Class A multifamily trade in San Diego County in 2011

SAN DIEGO, Jan. 12, 2012 — On behalf of a client of Invesco Real Estate, Jones Lang LaSalle’s Capital Markets experts today announced the firm has orchestrated the sale of Monarch at Shadowridge in the San Diego submarket of Vista, California.  A client of Invesco purchased the 314-unit multifamily property from a partnership of Archon Group and Monarch Group. The sale marks the only Class A trade in San Diego County in 2011. 

Jones Lang LaSalle’s San Diego Multifamily experts Darcy Miramontes and Diane Miramontes, both Executive Vice Presidents, and Vice President Kip Malo, led the team on this transaction. 

“Transaction volume in San Diego County has risen steadily over the course of 2011, but the sale of Monarch at Shadowridge shows just how far the market has bounced back,” said Darcy Miramontes.  “As the only Class A trade in the county this year, the sellers fielded dozens of offers from both institutional and local investors.  Invesco’s client made an extremely strategic purchase and will be able to immediately capitalize on the strong fundamentals and steady rent growth in the San Diego market.”

Monarch at Shadowridge is located at 1850 Thibodo Road in Vista, California.  The 314-unit, Class A property, was completed in December 2005.  The property features controlled access, a pool/spa, direct access garages in the two- and three-bedroom units, detached garages for select one-bedroom units, as well as full-size washer and dryers in all units.  The property is currently 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 Invesco Real Estate:
Established in 1983, Invesco Real Estate manages $43.7 billion of real estate investments, which includes $15.4 billion in U.S. direct real estate portfolios, $10.5 billion in non-US direct real estate and $17.8 billion in real estate securities (as of September 30, 2011). Headquartered in Dallas, Invesco Real Estate has more than 320 employees in 16 offices through the U.S., Europe and Asia.  The group focuses on top-down market and property type fundamentals combined with bottom-up local market intelligence. Senior members of the management team have worked together for 23 years, contributing to the consistent implementation of Invesco’s investment strategy.

Invesco Real Estate is a unit of Invesco Ltd., a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at and at

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