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News release

DALLAS, TX

Jones Lang LaSalle Adds Two Multifamily Experts in Dallas

Jorg Mast and Richard Furr join firm as Senior Vice Presidents


DALLAS, Jan. 23, 2014 — Abundant employment opportunities in Dallas-Fort Worth due to transformative high tech, energy and bio-tech growth is expected to push multifamily rental rates into near-record territory in 2014.  Today, Jones Lang LaSalle (JLL) announced the firm has hired two veteran multifamily experts to help manage the expected pipeline of transactions in the DFW region.  Jorg Mast and Richard Furr join the firm as Senior Vice Presidents in the firm’s Dallas office.  The two will work under the direction of Managing Director Jeff Price, who joined JLL in late 2012 when the firmed acquired his company, The Apartment Group.

“The Dallas-Fort Worth market has experienced some of the strongest fundamental growth in the nation and the addition of Jorg and Richard to our team will allow us to not only keep up with that growth, but stay ahead of it as our clients seek to invest even more in the region,” said Jeff Price, Managing Director, Jones Lang LaSalle’s Capital Markets.  “Each of these gentlemen has a deep history in acquisitions, dispositions and ground-up developments and we are looking forward to sharing their expertise with our client base.”

Multifamily sales in the Dallas-Fort Worth market saw a recording-breaking 2013 as volumes exceeded $5 billion: a 66 percent increase over 2012. The area has seen employment gains of 2.7 percent year-over-year, generating strong demand for these properties.  Occupancy rates in the market sit at a 10 year high of 95 percent and rent gains are above the national average.

Mast joins JLL from PegasusAblon Properties in Dallas where he was a Managing Director.  In his role, he was responsible for multifamily investments both acquisition of existing properties and ground-up development opportunities.  Prior to joining PegasusAblon, Jorg was a principal and development partner with Hughes Development where he was responsible for analyzing, pursuing, and negotiating acquisition and development investments.  Mast began his professional career in the hotel and restaurant business in Europe.  He has worked at the Hotel du Cap, in Antibes, France, the Hotel le Bristol in Paris, France and later was part of the upper management of his family’s hotel operations in Germany, all of which are part of the “Relais et Chateaux” association.  He holds a masters of business administration, finance, from the Neeley School of Business at Texas Christian University.  

Furr joins the firm after spending the past three years at a competing brokerage, where he specialized in multifamily investment sales.  Prior to that, he was the Director of Acquisitions at The Milestone Group and was a Senior Vice-President and Divisional Partner at JPI.  Richard is responsible for over a $1 billion of acquisitions and development during his tenure with The Milestone Group and JPI.  He holds a bachelors degree from Texas Tech University and a master’s degree from Texas A&M University.

JLL’s U.S. Multifamily Capital Markets team includes more than 80 experts in 13 offices across 10 states. With an average of $41 million per transaction, the team has closed 97 multifamily sales and 204 debt and equity transactions in 2013, totaling more than $7 billion.  The figures represent a 245 percent increase in market share from the first half of 2012 to 2013 in deals of at least $25 million or more. http://bit.ly/15mbe2a

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.