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News release

New York, NY

JLL secures $29.4 million for acquisition of historic Sunshine Theater


​​JLL's Capital Markets experts today announced the company secured $29.4 million in financing for the acquisition and rehabilitation of the historic Sunshine Theater at 139 East Houston Street in Manhattan. JLL represented a partnership between East End Capital and K Property. Acore Capital provided the five-year loan. ​

Managing Directors Aaron Appel and Jonathan Schwartz, and Executive Vice President Michael Diaz led the JLL team on the financing.

"This is a prime retail location with excellent frontage on Houston Street," said Schwartz. "The sponsors are experienced in creating new, engaging spaces with buildings that need to be updated. This financing allows them to execute their vision with a rare, value-add property in a highly visible area."

The 29,200-square-foot building is located at the cross-section of SoHo, East Village and the Lower East side, with access to the F, B, D, M, J and Z subway lines.

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 had $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.