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News release

Newark, NJ

Competition Fierce for New Jersey Trophy Office Financing

Jones Lang LaSalle secures nearly $70 million for purchase and repositioning of 5 Giralda Farms


NEWARK, NJ, Jan. 14, 2014 — On behalf of a partnership between Lincoln Equities Group, LLC, and Lakestar Properties, Jones Lang LaSalle’s (JLL) Capital Markets experts today announced the firm has secured $69.8 million in acquisition and future “good news” financing for the purchase of 5 Giralda Farms, a 463,435 square foot trophy, Class A+ office building located in Madison, NJ within the Giralda Farms Corporate Campus.  NorthStar Realty Finance provided the five-year, non-recourse loan.

Executive Vice President Dustin Stolly and Vice President Aaron Niedermayer led the JLL team on the transaction.
“This property is considered the premier corporate facility in the state of New Jersey, providing the epitome combination of quality and location,” said Stolly.  “The best-in-class sponsorship, along with the expectation of a single, credit tenant to sign a long-term lease at the property, made this opportunity compelling to banks and money managers, and the process was extremely competitive.”

The trophy property had previously been owned and fully occupied by Pfizer’s animal healthcare and nutrition division.  5 Giralda Farms offers an unparalleled and state-of-the-art amenity package including a 345-seat cafeteria, conference facilities and a 15,000-square-foot fitness center with a basketball court and locker rooms.  In addition, the property features a separate 13,000-square-foot day-care facility and a 9,200-square foot carriage house, ideal for corporate functions and executive dining.  It is located within the Route 24 office submarket, an established corporate location in New Jersey that boasts a dominant presence of Fortune 500 companies including AT&T, Bank of America, Pfizer, Prudential, Morgan Stanley and Quest Diagnostics. The Route 24 corridor has historically commanded strong asking rents due to the appeal of the location and quality of the Class A product.

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 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 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: http://bit.ly/18P2tkv.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management. For further information, visit www.jll.com