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News release

LOS ANGELES, CA

Jones Lang LaSalle Hotels Closes the Sale of the Embassy Suites Valencia Hotel in California


LOS ANGELES, June 4, 2012 — Jones Lang LaSalle Hotels today announced the firm has closed the sale of the 156-room Embassy Suites Valencia Hotel on behalf of Cerberus Capital Management. The property was built in 2007 as the first new generation type Embassy Suites and features 4,900 square feet of meeting space and the Grove Restaurant. The property was purchased by Orange County based Clearview Capital.
 
Managing Director John Strauss and Senior Vice President Samantha Fisher led the Jones Lang LaSalle Hotels team on this transaction.
 
About Jones Lang LaSalle Hotels
Jones Lang LaSalle Hotels is a global real estate services firm focused exclusively on hotels & hospitality. We provide acquisition and financing advice, valuations, investment sales and asset management for luxury hotels, select service and budget hotels, smaller hotels and pubs, from single assets to large portfolios and mixed-use developments.
 
In the last five years we completed nearly 4,000 advisory and valuation assignments and more sale, purchase and financing transactions than any other hotels real estate firm in the world…worth over $30 billion. With 42 offices in 20 countries, no other firm is better connected. Through our depth and breadth of research and experience we know the market at every level, we know the players and we know how to get results. www.joneslanglasallehotels.com
 
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 $47.2 billion of assets under management. For further information, please visit www.joneslanglasalle.com.