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News release

DALLAS, TX

Job Growth and Corporate Relocations Drives Sale of Parkview Legends Apartments

Dynamic market makes Dallas submarket of McKinney attractive for multifamily investment


DALLAS, Sept. 16, 2014 – North Texas continues to benefit from large, high-profile corporate relocations, fueling strong market fundamentals across the Metroplex. In fact, the city of McKinney ranked third in the Dallas-Fort Worth area in population growth over the last year, and fourth overall in population growth in the last four years.  Growth like this isn’t unprecedented; according to JLL’s Capital Markets, it’s the consistency that’s drawing investor interest.  On behalf of Sherman Residential, JLL today announced the sale of Parkview Legends Apartments, located in McKinney.  Eldorado McKinney, LLC, purchased the asset as part of a 1031 exchange less than 30 days from contract execution.

Managing Director Jeff Price and Vice President David Fersing led the JLL team on the transaction.

“Housing values throughout Dallas are on the rise, and with the qualifications of single-family debt tightening, Parkview Legends presented investors with a well-positioned boutique asset and an opportunity to capture additional value though unit and property upgrades,” said Price.

Parkview Legends is a 208-unit Class-A garden style multifamily community, conveniently located at the I-75 and Sam Rayburn interchange.  Property amenities include a split-level resort style pool, fitness center, sports lounge with billiard table and large flat screen TV, business center, conference room, movie theatre, covered parking and detached garages.

JLL 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 2013 alone, JLL Capital Markets completed $99 billion in investment sale and debt and equity transactions globally. 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 fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​