Skip Ribbon Commands
Skip to main content

News release

ATLANTA, GA

Jones Lang LaSalle Closes Sale of Alexander on Ponce

Atlanta’s multifamily market attracts institutional buyers and leads country in occupancy gains


ATLANTA, Feb.17, 2014 —Atlanta’s housing recovery gains steam as Jones Lang LaSalle (JLL) Capital Markets experts announced the sale of Alexander on Ponce, located at 144 Ponce De Leon Ave NE. CBRE Global Investors purchased the 330-unit midrise apartment complex from Equity Residential for an undisclosed price.

Managing Directors Derrick Bloom and David Gutting led the JLL team on this transaction.

“Alexander on Ponce is located in the thriving Midtown submarket of Atlanta which not only has walkability to major employers but also a variety of retailers, dining options and entertainment venues,” says Bloom. “This offers its residents a highly desirable ‘live, work, play’ environment.”

Gutting added, “The Property is a strong-performing asset: its rent increased six percent year-to-date in 2013 and has consistently delivered an occupancy rate of 95 percent.”

Alexander on Ponce boasts an infill location while remaining walkable to many of the area’s attractions including Piedmont Park, the country’s second largest city park. Its amenity package offers tenants panoramic city views, two garden courtyard and garden areas, a fully-equipped fitness center and a large business center.

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 $4.0 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 3.0 billion square feet. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com