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News release

WASHINGTON, DC

Jones Lang LaSalle Closes $140+ Million in Bridge Loans in Suburban Washington, D.C and Baltimore

Debt funds, banks and life companies stepping up for bridge opportunities


WASHINGTON, D.C., Nov 13, 2012—Since the beginning of July, Jones Lang LaSalle Capital Markets experts have closed nearly $141 million in bridge financings in the Washington, D.C. and Baltimore area. Managing Director Wes Boatwright, Executive Vice Presidents Jon Goldstein and Mike Yavinsky led the Jones Lang LaSalle team on these transactions.

The transactions include:

  • A $31 million bridge/acquisition loan for One Ballston Plaza in Arlington, VA.
  • A $44 million bridge/acquisition loan for Executive Plaza in Bethesda, MD.
  • •A $25 million bridge refinancing for High Ridge in Fairfax, VA.
  • A $23 million bridge/acquisition loan for Cameron Run in Alexandria, VA.
  • An $18 million bridge refinancing for an office and industrial portfolio in Baltimore, MD.

“A slowdown in the leasing activity due to a lack of clarity on the upcoming election and sequestration issues in the D.C. region, have hampered efforts for borrowers to secure financing for a number of value-add, well located opportunities,” said Yavinsky.  “However, we are seeing a number of debt funds, banks, and life companies looking for yield, step into this space to provide viable loans to bridge the gap.  All of these bridge financings are a testament to the continuing strength of the market, and the solid yields commercial real estate continues to offer in comparison to other investment opportunities.”

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 2011 alone, Jones Lang LaSalle Capital Markets completed $60 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $52 billion in global investment sales and buy-side transactions, equating to nearly $216 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its total Capital Markets volumes by 122 percent in 2011 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises more than 1,200 specialists, operating all over the globe.

For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page.  Bookmark it here:  http://www.us.am.joneslanglasalle.com/UnitedStates/EN-US/Pages/News.aspx

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 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.