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News release

ATLANTA, GA

Jones Lang LaSalle Closes $30.6 Million Sale of Bexley Apartment Homes on Behalf of Arenda Capital

Rental demand continues to grow in Atlanta


ATLANTA, Jan. 16, 2014 — On behalf of Arenda Capital, Jones Lang LaSalle experts today announced the sale of Bexley Apartments. The 494-unit apartment community is located at 991 Wylie Road SE in Marietta, GA and was sold to Carroll Organization for $30.6 million.

Managing Directors David Gutting and Derrick Bloom led the Jones Lang LaSalle team on this transaction.

“Bexley benefits from long-term institutional ownership and in recent years, received $6 million in exterior and interior renovations,” said Gutting. “Additionally, the Property’s location adds to its value as it is in close proximity to four of the region’s largest employers and is positioned in one of Georgia’s most rapidly expanding corridors.”

Bloom added, “Rents have increased dramatically which, combined with few deliveries to the market, provided Arenda with a great opportunity to sell.”

“The Team of Gutting and Bloom did an outstanding job for us.  We were very pleased with the transaction and believe that the Carroll Organization now owns a great asset with a strong future,” noted Ryan Millsap, Managing Principal at Arenda.

A wide variety of floor plans are available and features include wood cabinetry, black appliances, modern lighting and fixture packages, faux granite countertops, fireplaces and private balconies with additional storage space. Its amenities differentiate it from other apartment complexes by offering its residents two resort-style swimming pools, a large fitness center, two tennis courts, playground, and a  two-acre sports field with a jogging trail.

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.