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News release

Chicago

Financing Provides Flexibility for Advisor’s National Portfolio Strategy

JLL secures $150 million portfolio financing for Clarion Partners



HOUSTON, March 23, 2017 – JLL's Capital Markets​ experts today announced the firm secured a $150 million facility loan for a national portfolio of eight commercial properties on behalf of Clarion Partners, in its role as an advisor to a separate account managed by the firm. Wells Fargo provided the seven-year, floating rate loan, which is structured as a cross-defaulted mortgage pool.

The portfolio consists of eight Class A buildings in Arizona, California, Florida, Illinois, Ohio, Oregon and Texas. The portfolio includes two industrial, three office and two retail assets as well as one hotel.

Executive Managing Director Mike Melody and Senior Vice President John Ream led the JLL team that secured the financing. 

"This is a deal structure which gives the client exceptional flexibility," said Melody. "The facility allows Clarion to substitute assets into the collateral pool in the future as properties are sold or financed individually."

Added Ream, "The varying asset types and multiple locations within the portfolio added a layer of complexity to this financing that shows the full capabilities of our finance platform."

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 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 Incor​