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News release

NASHVILLE, TN

Jones Lang LaSalle Closes $57M Sale of The Lakes of Bellevue

Nashville’s multifamily market responds to growing demand


NASHVILLE, Tenn., Feb. 10, 2014 — Supported by job and population growth, Nashville’s market carries its strong performance from 2013 into the new year. On behalf of Harbor International Group, Jones Lang LaSalle’s (JLL) Capital Markets experts today announced the sale of The Lakes of Bellevue. BC Properties purchased the 624-unit apartment for $57 million.
Managing Directors David Gutting, Derrick Bloom and Senior Vice President Vincent Lefler led the JLL team on this transaction.

“The Lakes of Bellevue’s consistent in-place rent growth and value-add potential demonstrate that the asset has a proven track record and will continue to provide solid returns for BC Properties,” said Lefler. “It’s in Nashville’s ‘wealth corridor’ which adds to the opportunity to deliver high returns in the future.”

Although located in Nashville’s high density business district hosting more than 10,000 jobs, The Lakes of Bellevue is surrounded by 125 acres of natural forests, landscaping and lakes. Units may feature fireplaces, private patios and balconies, spacious closets and vaulted ceilings. Complex amenities include three resort-style pools, tennis courts, a car care center, a fitness center and a clubhouse.

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.