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News release

WASHINGTON, D.C.

Jones Lang LaSalle Secures $12.6 Million Refinancing for American Urological Association


WASHINGTON, D.C., Nov. 5, 2012—Jones Lang LaSalle announced today that the firm has secured  $12.6 million in financing for the American Urological Association (AUA), which will refund the original financing for the association’s headquarters located close to BWI airport. The non-profit, founded in 1902, is a urological association with over 18,000 members. It provides invaluable support to the urologic community through education, research and advocacy.

The refinancing consisted of $8.3 million in tax-exempt bonds and a $4.3 million taxable loan. The bonds and the loan were privately placed with SunTrust Bank with the bonds issued through the Maryland Economic Development Corporation.

Managing Director John Gibb and Vice President Patricia Restrepo of Jones Lang LaSalle represented the American Urological Association in the transaction. Miles & Stockbridge served as the bond counsel and Arent Fox served as the borrower’s counsel.

“Jones Lang LaSalle negotiated extremely favorable terms for the transaction and provided the AUA with their expert financial advice to facilitate the decision making process in choosing the best financing option,” said Mark Campobello, CFO, American Urological Association. “With the affordable rate, AUA will be able to allocate more capital to research and urological patient care.”

The American Urological Association embarked on a build-to-suit construction project when they consolidated their Baltimore and Houston offices and moved their headquarters close to BWI airport, improving operational efficiency and convenience for their international members. The 84,000-square-foot building’s curving glass façade, and contemporary architecture gives it an authoritative presence in the Hoch Business Park.  Staubach, now part of Jones Lang LaSalle, also served as the financial advisor for their original financing and managed the construction when it was built almost a decade ago.

“AUA attracted a great deal of lender interest for the refinancing of this award-winning building,” said Patricia Restrepo, Vice President, Jones Lang LaSalle. “The terms they achieved are not surprising considering the organization’s credit strength.”

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.