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News release

ORLANDO, Fla.

Florida Multifamily Portfolio Offers Value-Add Opportunity

JLL arranges $153M sale of three-property, 972-unit portfolio


​JLL's Capital Markets experts today announced the sale of a portfolio of three multifamily communities in Florida on behalf of Starwood Capital. The portfolio includes the 447-unit Key Isle at Windermere in Ocoee, the 253-unit Tradition at Alafaya in Oviedo and the 272-unit Estates at Maitland Summit in Orlando. Carroll Organization purchased the portfolio for $153 million.

Managing Directors Jubeen Vaghefi and Denny St. Romain led the JLL team on the transaction.

"Each of these properties is located in a high barrier-to-entry submarket and boasts above-average occupancy," said Vaghefi. "Investors were attracted to the quality of the assets and the opportunity to add value by bridging rent gaps at each property."

The portfolio has an average occupancy of 96 percent. Each property is located in an in-fill location with connectivity to employers and retail amenities and within 20 minutes of Orlando's central business district.

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 $136 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.

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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 the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management has $58.0 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.