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ONTARIO, CALIF., Dec. 12, 2012 — Jones Lang LaSalle today announced that the firm’s Capital Markets experts have completed the sale of The Colony, a Class A apartment community located in Ontario, California in the Inland Empire. JH Real Estate Partners purchased the 160-unit property for $22.1 million from JH Snyder Company, one of the nation's leading full-service real estate companies.
Managing Director Joe Leon , Vice President Javier Rivera Executive Vice President Darcy Miramontes and Analyst Zach Rivas led the Jones Lang LaSalle team on this transaction.
“Our knowledge of the local market enabled us to locate a buyer who understood that this was an opportunity to acquire a Class A, newly constructed property at the beginning of the real estate cycle,” said Leon.
The Colony, which was developed in 2009, is located within Downtown Ontario's revitalization district, providing immediate access to abundant retail and restaurant amenities. Units are well designed with open kitchens, spacious living rooms and courtyards or balconies. The two bedroom units are double master residences providing both privacy and a shared entertainment suite, black appliances, glazed countertops, vaulted ceilings and balconies. Community amenities include a furnished clubhouse, a business center, and a large newly furnished fitness center. The interior park-like courtyard of the property allows for a tranquil and comfortable experience with access to an oasis style pool and BBQ lounge area. It is currently 93 percent occupied.
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.
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About JH Snyder Company
Headquartered in Southern California, the JH Snyder Company is one of the nation's leading full-service real estate companies and one of the few firms in the country known for its multidisciplinary capabilities. The JH Snyder organization has been in business for over 60 years - investing, building and managing real estate throughout the US, providing value to its investors while revitalizing communities. Since inception, the Company has built more than 41,000 single and multi family residential units, four million square feet of office space, and more than two million square feet of retail.
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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