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News release

New York

Thriving Harlem Submarket Drives Latest Repositioning Opportunity

JLL secures $23 million in acquisition and repositioning financing for 17 West 125th Street


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NEW YORK, March 3, 2016 – On behalf of Thor Equities, LLC, JLL's Capital Markets today announced the firm has secured $23 million in acquisition and repositioning financing for 17 West 125th Street, a pre-war, multifamily and retail asset located in Manhattan's Central Harlem neighborhood. East West Bank provided the loan.


Managing Director Aaron Appel and Executive Vice President Keith Kurland led the JLL team on the transaction.

 

The property consists of seven commercial units, 50 multifamily units and nearly 100 feet of retail frontage along 125th Street, and is located near retailers, dining and nightlife options and public transit. Sponsorship plans to invest in capital upgrades to reposition 17 West 125th as one of Harlem's premiere residences.

 

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 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

 

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.

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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 $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 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.