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News release

RALEIGH, N.C.

Extended Stay Portfolio Attracts Global Investor

JLL secures $145.5 million recapitalization financing for The Generation Companies Portfolio


​RALEIGH, N.C., October 12, 2016 – JLL's Hotels & Hospitality Group is pleased to announce the firm secured a $145.5 million recapitalization financing on behalf of The Generation Companies and its partner StepStone Group Real Estate, LP for a portfolio consisting of 23 select service, extended stay hotels. The 2,652-room portfolio is positioned across key geographic locations and will continue to be managed by The Generation Companies, LLC. An affiliate of Blackstone Mortgage Trust provided the non-recourse, floating-rate financing.

Managing Director Bill Grice​ and Senior Vice President Nick Baer led the JLL team on the transaction.

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $68 billion worldwide. Between negotiating property deals, the group’s 350-person global team also closed more than 4,400 advisory, valuation and asset management assignments. To find out more visit: www.jll.com/hospitality

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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 280 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 $59.1 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.