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News release

San Antonio, TX

Market activity spurs sale of South Texas multifamily asset

JLL Capital Markets secures sale of apartment community in McAllen


San Antonio, March 28, 2018 – JLL's Capital Markets experts announced today the sale of Kerria Square, a multifamily community located at 2100 Kerria Avenue in McAllen, Texas, on behalf of the new owners, Ted Lee and Melissa C. Daniell. Kerria Square Development, LLC sold the 82-unit, 6.07 acre property.

JLL Senior Vice President Zar Haro led the Central Texas Multifamily Team on the effort. He, along with fellow JLL Senior Vice President Moses Siller, represented the buyer.

"Kerria Square is one of the newer multifamily products in this region, drawing a significant amount of attention," said Haro. "Everything on the property is less than five years old, making it one of the most attractive investment opportunities in the area with tremendous upside."

Built in 2014, Kerria Square was 95% leased at sale.

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, 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.

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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 2017, JLL had revenue of $7.9 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com