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News release

HOUSTON, TX

Jones Lang LaSalle Secures Senior Financing for Houston Class A Retail Center

AEGON provides first mortgage financing for CITYCENTRE Retail; property owned by JV between Midway Companies and a pension fund client advised by L&B Realty Advisors, LLP


HOUSTON, Feb. 06, 2012 — On behalf of a joint venture between Midway Companies and a pension fund client advised by L&B Realty Advisors, LLP, Jones Lang LaSalle’s Capital Markets experts today announced the firm has secured a senior mortgage loan for CITYCENTRE Retail, a 312,676-square-foot, Class A retail center in Houston.  AEGON provided the loan through its affiliate, Transamerica.
Jones Lang LaSalle’s Executive Managing Director Tom Fish, Managing Director Paul House and Vice President John Ream led the team on this transaction.

“The continued incredible success of the CITYCENTRE development and the ongoing commitment to the project by top tier sponsorship made this a very competitive process,” said Fish.  “AEGON, though, came out ahead with a 5-year term and 3.54 percent interest rate, which was simply unbeatable.”

CITYCENTRE Retail is a landmark development comprised of carefully chosen retail, restaurant, and entertainment tenants that offer a unique blend and include a number of first to market users.  The property is located on the site of Houston’s former Town & Country Mall and is adjacent to Town & Country Village which combines to create a shopping district of approximately 800,000 square feet. The property is part of a master-planned, 1.8 million-square-foot, mixed-use development known as CITYCENTRE, which combines upscale office, retail, entertainment and multi-family components, as well as the 244-room Sorella hotel and a 30,000-square-foot conference center connected to the hotel via skywalk. Situated directly off Beltway 8, between Memorial and I-10, the property is located within the wealthiest zip code in Texas, with a median household income of $208,000. Additionally, the property experiences a heavy traffic flow of approximately 500,000 cars driving by the site each day.

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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.