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News release

Cupertino, CA

Jones Lang LaSalle Secures $18.4 Million Senior Loan for Silicon Valley Medical Office Complex

Loan secured through Prudential Mortgage Capital Company for LaSalle Investment Management’s Medical Office Fund II


CUPERTINO, CA, APRIL 20, 2010 — Jones Lang LaSalle announced today its Real Estate Investment Banking practice has secured an $18.35 million senior loan for the acquisition of the Kaiser Permanente Medical Office Complex on behalf of LaSalle Investment Management’s Medical Office Fund II.  Prudential Mortgage Capital Company is providing the debt financing for this medical office property located in Cupertino, California.

Leading the team on this transaction was Managing Director Dave Hendrickson and Vice President Chuck Hoag.

“There was wide interest in this opportunity, despite the difficult lending environment.” said Hoag.  “Lenders saw the strength of LaSalle Investment Management’s Medical Office Fund II, combined with a fully-leased, stable asset in a prime location, and responded with highly favorable terms.”

The 5.60 percent fixed rate loan has a five-year term with a 30-year amortization schedule.  It was used to acquire the 100,352-square-foot complex, which is located adjacent to Kaiser Permanente’s new Santa Clara Regional Medical Center.  The property is 100 percent leased to on a long-term basis to Kaiser Foundation Hospitals.

About Jones Lang LaSalle Capital Markets

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. Our in-depth local market and global investor knowledge delivers the best-in-class solutions for our clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In the last three years, Jones Lang LaSalle Capital Markets completed more than $143 billion transactions globally. Our Capital Markets team comprises approximately 1,500 specialists, operating in 180 major markets worldwide.

About LaSalle Investment Management
LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE: JLL), is a leading global real estate investment manager, with nearly $40 billion of assets under management of private and public property equity investments. LaSalle is active across a range of real estate capital and operating markets including private and public, debt and equity and our clients include public and private pension funds, insurance companies, governments, endowments and private individuals from across the globe.  For more information, visit www.lasalle.com.
 
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.