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News release

Los Angeles

Jones Lang LaSalle Names Michael Prabhu Director of Property Management of the Southwest Region


LOS ANGELES, June 21, 2010 – Jones Lang LaSalle has named Michael Prabhu Director of Property Management of the Southwest Region.  In this new role, he will be responsible for growing the firm’s property management portfolio in Southern California, Arizona and Nevada.  Additionally, he will work closely with the company’s leasing and capital markets professionals to thoroughly integrate its service platform for institutional and investor clients.

“Michael is the perfect fit to lead our property management team in the Southwest,” said Jan Pope, Southwest Market Director for Jones Lang LaSalle.  “Property management is a core business for Jones Lang LaSalle and we are focused on expanding our integrated property management, agency leasing and capital markets services to owners and investors both locally and nationally.  Michael has a deep understanding of the ownership mentality and his experience will deliver the highest level of service to our investor, special servicer and corporate clients in the southwest.”

With more than 15 years of commercial real estate experience, Prabhu previously served as the Director of Operations Jones Lang LaSalle’s Los Angeles region, with day-to-day responsibilities of a four-office, 65 broker team.  Prior to joining Jones Lang LaSalle, he served as an asset manager for Maguire Properties with responsibilities for overseeing a portfolio of properties in downtown Los Angeles and West Los Angeles totaling 3 million square feet with direct management of 250 employees.  Prabhu is also a court appointed receiver.

In his new role, Prabhu will marshal his extensive receivership expertise in all facets of commercial real estate to provide specialized services to distressed clients that are affected by the current financial crisis. As a Receiver, Jones Lang LaSalle is appointed by the courts and will work closely with lenders and borrowers to control and direct the use of assets until resolutions are achieved.  Although Receivership designations vary state by state, they share the same premise of appointing independent managers to assume fiduciary responsibility for the assets.  During the Receivership process, the Receiver chooses the most appropriate firm to manage and lease the asset, and provides recommendations for the most profitable outcome of the asset including its possible sale. Jones Lang LaSalle is a leading court-appointed receiver on 45 current assets.

“Michael's experience in handling distressed assets, coupled with the breadth of Jones Lang LaSalle’s integrated service platform makes us the ideal firm to handle these types of assets in the Southwest,” added Pope.
 
Jones Lang LaSalle is one of the region’s leading property management firms.  Currently, the company manages approximately 57.4 million square feet of office space including:  Pasadena Towers, a two building 439,650-square foot Class A office complex in Pasadena, Calif.; 505 North Brand, a 16-story, 319,864-square-foot Class-A office building in Glendale, Calif.; Atria West, 178,719-square-foot Class A office complex in West Los Angeles; and Pacific Arts Plaza, a Class-A 825,513 square-foot mixed-use office campus in Costa Mesa, Calif.

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.