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News release

San Antonio, TX

JLL secures sale of Gulf Coast multifamily asset

Regional growth spurs sale of apartment community in Corpus Christi

SAN ANTONIO, July 2, 2018 – JLL Capital Markets experts announced the sale of Carroll Lane, a 40-unit multifamily community in Corpus Christi, Texas today.

JLL Senior Vice President Zar Haro led the Central Texas Multifamily Team on the effort. He, along with JLL Senior Vice President Moses Siller, represented the sellers, Churchill Family Trust. Raybec Operating Corp. acquired the apartment complex.

"Carroll Lane offers a great value-add opportunity for the new owner with significant upside," said Haro. "This asset is primed to capitalize on the region's continued growth with the right strategic investments and improvements."

Carroll Lane was 90% occupied at sale. The sale includes the 2.77 acres on which the property is situated.

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 2017 alone, the firm's 2,000 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit