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News release

ATLANTA, GA

Booming Atlanta Office Corridor Fuels Demand for Apartment Rentals

JLL closes $36 million sale of Wesley At Winward


ATLANTA, Dec. 15, 2014 – Atlanta’s North Fulton “super-suburb” is experiencing a strong surge right now—with new developments, office properties and steady job growth: all of which bodes well for the multifamily sector. On behalf of MTS Realty Group LLC, JLL’s Capital Markets experts today announced the sale of Wesley At Winward, located in Atlanta’s suburb of Alpharetta, in North Fulton County. Boston Capital purchased the asset for $35.5 million.

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

“Wesley At Windward’s unparalleled location near Avalon’s new $600 million mixed-use development and downtown Alpharetta’s $31 million redevelopment caters exactly to what today’s renters are seeking: an environment where they can live by their work and be conveniently close to retail, shopping and dining,” said Gutting.

Added Bloom, “There is limited competition in this submarket and an incredible opportunity for the new owner to capitalize on a value-add property.”

The 294-unit, garden style apartment is located in the North Fulton submarket, north of Atlanta. Units feature apartment and townhouse floor plans with custom interiors, large balconies and open kitchen space. Community amenities include two resort-style swimming pools, a 24-hour fitness center, tennis courts, two natural on-site lakes, a dog park and a playground.

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.