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News release

Phoenix

Bayport Refinances Fully-Occupied Paradise Valley Medical Offices

JLL secures $10.5 million refinancing for Paradise Valley Medical Plaza


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PHOENIX, Jan. 5, 2016 – On behalf of Bayport PV Associated, LP, JLL's Capital Markets experts today announced the firm completed a $10.5 million refinancing for the Paradise Valley Medical Plaza. Principal Real Estate Investors provided the 10-year, fixed-rate loan for the fully occupied medical office plaza, located in Paradise Valley, Arizona. JLL was able to rate lock in September with an interest rate of 3.62 percent.

Managing Director Brian Halpern and Senior Associate Alex Kane led the JLL team on the deal.

Located on the prestigious North Scottsdale Road, Paradise Valley Medical Plaza is comprised of eight single-story medical office buildings leased to 16 tenants and anchored by an outpatient surgery center. The property is also close to two hospitals, the Scottsdale Shea Medical Center and Scottsdale Osborn Medical Center.

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.  JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 70,000.  On behalf of its clients, the company 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. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 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.