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News release

NEW YORK, NY

JLL Secures $26M in Financing for 3 Brooklyn Buildings

Firm arranges financing for 184 Noll Street, 324 Melrose Street, 286 Stanhope Street in Bushwick section of Brooklyn


NEW YORK, August 25, 2015 — On behalf of Cayuga Capital Management, JLL today announced the firm has secured a $26 million loan for 184 Noll Street, 324 Melrose Street, and 286 Stanhope Street, all located in Brooklyn’s Bushwick submarket. M&T Bank provided the loan.


Managing Director Aaron Appel and Senior Vice President Michael Diaz led the JLL team on the transaction.


The three rental properties contain 63 residential rental units, 7 commercial spaces and 28 parking spaces 460-acres and feature large floor plans, high ceilings, outdoor terraces, and excellent street visibility. They also boast a close proximity to train stops and chic entertainment and retail options in Brooklyn and Manhattan.
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 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 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. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 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.