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News release

DALLAS

JLL Capital Markets Completes Sale of West Texas Multifamily Asset


DALLAS, March 9, 2017 – On behalf of Midland Visions 2000, JLL announced today the sale of Ranchland Apartments. KNAARS Ventures, LLC purchased the 204-unit, 16 building property in Midland, Texas.

Managing Director Scott LaMontagne and Senior Vice Presidents Moses Siller and Zar Haro with JLL Capital Markets represented the seller.

"Midland continues to grow as an attractive place for top firms and talent," said Haro. "Its prime location within the Permian Basin is drawing top oil and gas producers and prompting further growth within the region. Ranchland Apartments provides the buyer a great value-add investment opportunity. We're thrilled to play a role in coordinating this transaction."

Ranchland Apartments is located at 1212 East Wadley Way. The deal includes the 6.83 acres on which the property is located. Onsite amenities include a swimming pool, clubhouse and multiple courtyards.

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.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.