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News release

SAN ANTONIO

JLL Capital Markets Completes Sale of Multifamily Asset in South Texas


SAN ANTONIO, April 6, 2017 – On behalf of F1S Sunchase Associates, LLC, JLL announced today the sale of Sunchase Apartments. Raybec Alameda, LLC purchased the 224-unit garden-style apartment community in Corpus Christi, Texas.

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

"Sunchase provides a tremendous value-add opportunity for Raybec Alameda, LLC," said Haro. "With the right strategic additions, this property will be in great shape for long-term stability, future rent growth and continued value appreciation, making this an exceptional investment for years to come."

Sunchase Apartments is located at 5445 S. Alameda Street. The agreement includes the 9.27 acres on which the property is located. Onsite amenities include a swimming pool, state-of-the-art fitness center and laundry facility.

The property is located minutes from downtown Corpus Christi and near major employers including Texas A&M-Corpus Christi, Corpus Christi Medical Center and Naval Air Station Corpus Christi. 

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 2016 alone, JLL Capital Markets completed $145 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.