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Baltimore

Jones Lang LaSalle Markets $225 Million Baltimore Multifamily Portfolio

Six-property portfolio offers 1,984 units; Attractive assumable financing available


BALTIMORE, April 15, 2010 — With their second offering in as many weeks, Jones Lang LaSalle’s newest multifamily practitioners, Scott Melnick and Al Cissel, are now marketing a major multifamily portfolio in Baltimore, Maryland for a private real estate investment and management firm.  The six-property portfolio has a total of 1,984 units and is expected to fetch in excess of $225 million.

Al Cissel and Scott Melnick, Managing Directors of the firm’s multifamily investment sales business, are leading the Jones Lang LaSalle team on this offering.

“This highly desirable portfolio offers an exceptional location, stable cash flow, and unique product diversity as well as attractive assumable financing,” said Cissel.  “We expect it to appeal to a wide variety of investors who will seek to capitalize on its increasing cash flow, as continued job growth within the region will translate to increased renter demand.”

These garden apartment communities are located in the Windsor Mill submarket of Baltimore, near the intersection of the Baltimore Beltway (I-695) and I-70.  The Crosswinds at Rolling Road was built between 1976 through 1988 and offers 808 units.  Diamond Ridge was built in 1991 and offers 92 units.  The Glens at Rolling Road was built in 1974 and offers 270 units.  Granite Run was built in 1998 and offers 264 units.  Rolling Wind was built in 1995 and offers 280 units and Stratton Meadows was built in 1989 and offers 270 units.  Individual residences offer spacious contemporary floor plans featuring modern kitchens, wall-to-wall carpeting, balconies/patios, and full-size washers/dryers.
 
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 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.