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Jeff Price to lead multifamily brokerage team in Dallas
DALLAS, Jan. 8, 2013 — As part of its ongoing effort to strategically expand the firm’s overall Capital Markets platform, Jones Lang LaSalle today announced it has acquired The Apartment Group, Ltd., a market-leading multifamily brokerage firm in Dallas. This allows JLL to nimbly respond to increased client demand in the Dallas-Fort Worth metro area caused by rising employment, tightening occupancies and a near-tripling in the apartment construction pipeline. The price was undisclosed.
The Apartment Group’s founder and president, Jeff Price, will join as a Managing Director and lead the team, as well as the firm’s overall multifamily platform in Texas. Price will partner with Jubeen Vaghefi, International Director and leader of the multifamily investment sales business, to expand the firm’s nationwide multifamily coverage. He will also work closely with Dallas Market Director Paul Whitman to broaden the market’s strong client service offerings, which already includes tenant representation, landlord leasing and project management.
“The addition of The Apartment Group further enhances our strategic growth plan to become the leading Capital Markets provider in the commercial real estate business,” said Jay Koster, President of Jones Lang LaSalle’s Americas Capital Markets. “Over the past four years, we’ve added more than 75 multifamily sales and debt and equity specialists to our roster, and late last year, we were approved as a Freddie Mac Multifamily Program Plus® Seller/Servicer in the state of Texas, in addition to our territories in the Mid-Atlantic and the Southeast. These full scale capabilities will allow us to offer clients the most comprehensive multifamily platform in the Southwest.”
From the beginning of 2011 to the end of 2012, Jones Lang LaSalle’s Capital Markets experts have closed 190 multifamily sales totalling more than $4.7 billion and financed 100 Freddie Mac-sourced loans, totalling more than $1.9 billion.
Price has nearly 30 years of experience in commercial real estate, including brokerage, development, asset management and property management as well as public accounting. Recognized by his peers as one of Dallas-Fort Worth’s top brokers in “D” Magazine, Price received his bachelor’s degree in Business Administration and Accounting from the University of Texas at Austin.
“Jeff has closed nearly $5 billion in multifamily transactions since he founded The Apartment Group more than 20 years ago and grew it into the premier multifamily brokerage in the Dallas-Fort Worth region. The Apartment Group’s deep client relationships and strong market reputation will dovetail perfectly with JLL’s integrated global platform, creating one of the leading teams in North Texas,” said Vaghefi. “These market veterans will complement our strong multifamily sales expertise in Houston, led by Managing Directors Greg Austin and Chip Nash, and offer clients the top leaders in the state of Texas.”
In addition to Price, other individuals joining JLL’s multifamily team immediately include:
Susan Gosslee, Alison Rutland and Janet McEowen also will be joining the firm.
“As we reviewed the landscape of potential firms to align ourselves with for the future, it became abundantly clear that Jones Lang LaSalle was the best option for us, and even more importantly, for our clients,” said Price. “We’ve been privileged to work with the finest clients in the world over the past 20-plus years and I’m confident the synergies between our solid relationships throughout Texas and the United States, combined with JLL’s global network, will allow us to enhance the unparalleled value and incomparable service they’ve always deserved. It is truly an honor for us to become part of an organization that values relationships and strives to improve our clients’ standing in the marketplace.”
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 www.joneslanglasalle.com.
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