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News release

New York

Jones Lang LaSalle Closes $57 Million Loan Portfolio for Morgan Stanley

Two single mortgage loans secured by retail properties in New York and across United States


NEW YORK, Feb. 4, 2009 — Jones Lang LaSalle’s Loan Sales Advisory experts have closed on $57 million in note sales for Morgan Stanley.  The group recently sold a single mortgage loan secured by a retail property in New York City and another single mortgage secured by a nationwide self storage portfolio.  Managing Director Noble Carpenter led the Jones Lang LaSalle team on these transactions.
 
The first note had an outstanding principal balance of $22 million and was secured by a vacant retail property located in New York City’s Meatpacking District.  The second note had an outstanding principal balance of $35 million and was secured by a portfolio of 13 self storage facilities located across the United States.
 
Jones Lang LaSalle’s Loan Sale Advisory service has long been a conduit to worldwide lenders and investors for companies seeking to rebalance their portfolios as part of their routine portfolio management efforts. The team also specializes in the management, valuation and liquidation of whole loans, B-notes, mezzanine pieces and for performing and non-performing assets.
 
Jones Lang LaSalle Capital Markets is composed of a broad range of real estate investment debt and equity specialists, and corporate finance experts, working on all property types and in all the major national markets on behalf of major institutional and local investors and developers, as well as corporations.  The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs.  The Investment Sales teams assist investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product.  The firm’s Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide secondary loan sale advisory services.  The Corporate Capital Markets professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios.  Collectively, the firm's Capital Markets team handled $82 billion in annual transaction volume in 2007.
 
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 2008 global revenue of $2.7 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 1.3 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 more than $46 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.