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News release

NASHVILLE, TN

Jones Lang LaSalle Seeks $72M in Development Financing for 4-Star Nashville Hotel


NASHVILLE, Feb. 06, 2012 — On behalf of 210 Fourth, LLC, Jones Lang LaSalle’s Capital Markets experts today announced the firm has been hired to secure $72 million in development financing and joint venture equity for the construction of a 315-room hotel in Nashville, Tennessee.  The joint venture partner will be expected to contribute approximately $25.5 million in equity which will be combined with a construction loan of approximately $46.5 million for the $84.5 million project.  Construction on what is expected to be the most compelling hotel in Nashville is expected to commence March 2012, with a projected opening in September 2013 to accompany the opening of the 1.2 million square foot Music City Convention Center.

The full-service flagged hotel will be located at 210 4th Avenue South, just one block from the Lower Broadway entertainment district.  The property will also feature 15,750 square feet of meeting space, 8,000 square feet of pre-function space and an innovative, unique restaurant concept.
Managing Director David Hendrickson, Executive Vice President Mathew Comfort, Senior Vice President Keith Largay and Vice President John Nugent are working on the development for Jones Lang LaSalle and Jones Lang LaSalle Hotels on this transaction.

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.

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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 2011 global revenue of $3.6 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 2.1 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 $47.7 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.