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News release

Baltimore, MD

Jones Lang LaSalle Expands Multifamily Expertise in Baltimore

Nationally renowned affordable housing expert Christine Espenshade joins as Senior Vice President


BALTIMORE, AUG 18, 2010 – As part of its continuing expansion in strategic markets across the country, Jones Lang LaSalle announced today it has hired Christine Espenshade as a Senior Vice President in the firm’s Baltimore office.  Espenshade will expand the firm’s multifamily sales business in this critical region under the direction of Managing Directors Al Cissel and Scott Melnick, leaders of the firm’s Mid-Atlantic Multifamily practice.  As a former MuniMae Vice President, she will also utilize her significant national affordable housing experience to leverage new avenues of expertise for clients.  During Ms. Espenshade’s tenure with the company, MuniMae was one of the nation’s largest syndicators of low-income housing tax credits, which fund most affordable apartment units built in this country.

“Christine’s background in affordable housing, combined with her extensive history with Baltimore, make her a perfect fit to lead our expansion into this growing region,” said Cissel.  “Our goal when we joined Jones Lang LaSalle in March was to significantly expand our market share in the Mid-Atlantic region and adding Christine to the team sends a strong signal that we intend to be best-in-class when it comes to the multifamily investment arena.”
 
Added Michael Ellis, Jones Lang LaSalle’s Washington, D.C. Market Director, “Washington, D.C. is leading the nation in investment sales so far this year, and we predict great things for Baltimore, as we currently have more than $200 million in offerings there.  Strong demographics and solid fundamentals in the city will provide a great opportunity for Christine and the firm to significantly expand our offerings for clients here.”
Espenshade brings more than 13 years of experience in the multifamily industry to the firm, most recently with Moran & Company and MuniMae.  Espenshade earned her bachelor of arts degree in the Department of Politics at Princeton University and was named one of Baltimore Magazine’s “40 Under 40” in 2008.

Jones Lang LaSalle’s Washington, D.C. Area Capital Markets team plans to add additional team members in the near future.  In addition to Ms. Espenshade, the group over time will look to grow its multifamily platform through additional capital markets experts.

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. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for its 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. The firm’s 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.