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News release

San Antonio

Strong Employment Drivers Spur San Antonio Multifamily Sale

JLL arranges sale of Pecos Flats


JLL's Capital Markets experts today announced the sale of Pecos Flats, a luxury multifamily community located in San Antonio, on behalf of Godfrey Residential. Sherman Residential purchased the 384-unit property.

Managing Director Scott LaMontagne and Senior Vice President Moses Siller led the JLL team on the transaction.

"Investors are extremely attracted to Class A multifamily product located just outside of prime urban areas," said LaMontagne. "Pecos Flats will benefit from future rent growth, which presented a valuable opportunity for investors."

Pecos Flats includes 21 apartment buildings next to Highway 151, which provides residents easy access to San Antonio's central business district and the San Antonio International Airport. The development is surrounded by employers, retail outlets and a variety of restaurants and entertainment venues.

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.

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 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.