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News release

NASHVILLE, TN

Jones Lang LaSalle Closes Sale of Tennessee Multifamily Property

Bristol Park at Governor’s Square sold to an affiliate of Stoneleigh Companies


NASHVILLE, Apr. 9, 2012 — Jones Lang LaSalle’s (NYSE: JLL) Capital Markets experts today announced the firm represented the sale of the Bristol Park at Governor’s Apartments on behalf of Bristol Development. Stoneleigh Companies purchased the 364-unit multifamily property located at 135 Westfield Court, Clarksville, Tennessee thru an affiliate with financing provided by Nationwide Life Insurance Company.   The community was renamed Waterford Landings Apartments upon takeover.

Senior Vice President Vince Lefler, along with Managing Directors Derrick Bloom and David Gutting, led the Jones Lang LaSalle team on this transaction.

“Clarksville has seen a 35 percent boost in population growth since 2005, spurring an unprecedented period of economic expansion and an uptick in demand for multifamily properties,” said Lefler. “Bristol Park is currently 93% percent occupied, and offers Stoneleigh Companies a stable community in a market with a limited supply pipeline and significant upside potential.”

Bristol Park is built on nearly 23 acres of land, and developed in two phases that were completed in 2001 and 2007. The property amenities include two resort-style pools, clubhouse, car care center, 24-hour fitness center and basketball court.  Bristol Park is located in close proximity to U.S. Army base, Fort Campbell, and a manufacturing facility that is due to open in late 2012 creating nearly 1,600 new jobs in the area.

About Jones Lang LaSalle
Jones Lane LaSalle’s Southeast Multifamily Investment Sales group sold nearly 8,000 units in multifamily property totalling more than $740 million in sales in 2011.  The team totals 12 experienced real estate professionals who specialize in the sale and financing of multifamily property in Georgia, Tennessee, North Carolina, South Carolina, Alabama, Kentucky and Mississippi.  In addition, the team works closely with the Real Estate Investment Banking experts to source both debt and equity and the firm’s acquisition of Primary Capital allows it to operate as a Freddie Mac Program Plus© Seller/Servicer and includes a $2 billion loan servicing platform.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. Our in-depth local market and global investor knowledge delivers the best-in-class solutions for our clients — whether a sale, financing, repositioning, advisory or recapitalization execution. The firm’s Capital Markets team comprises approximately 800 specialists, operating in 185 major markets worldwide.

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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 with 800 specialists 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.