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News release

BOSTON, MA

JLL Closes Another Beacon Hill Sale

Faros Properties Purchases 20 Ashburton Place


BOSTON, 4 Nov. 2014 — JLL’s Capital Markets experts today announce that the firm has closed on the sale of 20 Ashburton Place, a 48,580-square-foot office building on Beacon Hill in Boston on behalf of the Massachusetts Teachers Association (MTA). Faros Properties purchased the eight-story plus penthouse building directly across from the State House for $9,850,000.

Managing Directors Frank Petz and Jessica Hughes, and Vice President Robert Borden led the JLL Investment Sales team on the transaction.

“This offering gave investors the rare opportunity to purchase a quality asset in one of Boston’s most sought after neighbourhoods” said Petz. “The unique physical characteristics allowed investors to contemplate multiple redevelopment options and led to a very competitive process. Faros recognized the significant potential and seized the opportunity.”

Surrounded by Suffolk University, government agencies, and Boston’s Beacon Hill residential neighbourhood, 20 Ashburton Place was built in 1968. It is currently MTA’s headquarters office, and is occupied by the firms Beacon Hill Staffing Group and Beacon Hill Consulting Group.

About Capital Markets
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.

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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 $53.0 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.