Skip Ribbon Commands
Skip to main content

News release

LOS ANGELES, CA

Jones Lang LaSalle Closes $40M Sale of Orange County Apartment Complex

Constrained supply and high barriers to entry attract variety of investors


LOS ANGELES, March 18, 2014 — On behalf of Carmel Partners, Jones Lang LaSalle’s (JLL) Capital Markets experts today announced the sale of Briarwood Square, a 194-unit multifamily property located in the Stanton submarket of Orange County. A & M Properties purchased the asset for $40 million.

Managing Director Joe Leon and Vice President Javier Rivera led the JLL team on the transaction.

“Briarwood Square sits in the heart of Orange County – one of the most desirable housing markets in the country,” said Leon. “It is a well-maintained institutional asset that presents a strong value-add opportunity.”

The building is located at 7545 Katella Ave. along the Katella Commercial Corridor: a 10-mile stretch featuring numerous retailers, office spaces and entertainment venues such as Disneyland. The property is 95 percent occupied and units may feature large living areas, walk-in closets and private balconies and patios. Complex amenities include a fitness center, three swimming pools, a playground and a barbeque and gazebo.

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 JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv

About JLL
JLL (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 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.