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News release

DALLAS, TX

Dallas’ Job Momentum Drives Office Development

JLL secures $61 million in construction financing for One Legacy West


DALLAS, Oct. 19, 2015 – A prime location in Legacy, renowned as one of the country’s top job hubs, drove lender interest to back the Dallas region’s newest project. On behalf of Gaedeke Group LLC, JLL’s Capital Markets experts today announced the firm has secured $61 million in construction financing for the development of One Legacy West, a 327,856-square-foot Class AA office tower. US Bank provided the loan.
 
Managing Director Tim Jordan and Executive Vice President Mark Brandenburg led the JLL team on the transaction.

“The Dallas/Fort Worth metro area continues to boast some of the top fundamentals for job growth and, in turn, office development,” said Brandenburg. “The Legacy submarket’s rising rents, high absorption rate and backing from proven sponsorship bodes well for the property’s future performance.”
 
One Legacy West is located adjacent to Toyota and FedEx’s headquarters in Plano’s Legacy submarket, providing convenient access to the area’s highway system and retail offerings. The proposed 14-story tower will feature unique architecture, a two-story lobby, unobstructed views, 1,200 parking spaces and a reflective pond bordering the property.
 
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.