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News release

DALLAS

JLL secures acquisition financing for Sunridge Apartments


​JLL's Capital Markets experts today announced the firm secured acquisition financing for Sunridge Apartments, an affordable housing community in Grand Prairie, Texas. JLL secured the financing through the Freddie Mac Targeted Affordable Housing program on behalf of Sunridge 332 Partners LP.

Managing Director Mark Brandenburg led the JLL team on the financing.

"Affordable housing communities continue to attract lender interest, especially assets that are located near major metro areas where there is strong demand," said Brandenburg. "We were thrilled to partner with Freddie Mac on this deal to provide a valuable service to our client and the community."

Freddie Mac Multifamily's Targeted Affordable Housing program provides financing for rental properties that are affordable to families with low and very-low incomes. These include cash loans, bond credit enhancements, tax-exempt loans, and others.

Sunridge Apartments is a 332-unit garden apartment community located 20 minutes outside of Dallas near an array of retail outlets, employers and entertainment centers.

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.

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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 $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management has $57.6 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.​