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News release

Tallahassee, FL

Jones Lang LaSalle Markets Florida Student Housing Properties

The Collier Companies’ The Enclave in Gainesville and Seminole Grand in Tallahassee offered for sale or joint venture equity partnership


GAINESVILLE and TALLAHASSEE, FL, Oct. 27, 2010 —Jones Lang LaSalle today announced it has been hired to market two student housing properties in Florida for sale or joint venture equity partnership for The Collier Companies.  The Enclave is a Class A student housing community located in Gainesville and Seminole Grand is a newly renovated student-housing complex in Tallahassee. 

Leading the Jones Lang LaSalle team on this offering are Managing Directors Jubeen Vaghefi, Denny St. Romain, Jeff Morris and Executive Vice President James Tramuto.

“Despite the recession, stable occupancy rates and strong rents have continued to make student housing even more appealing to investors and lenders over the past year, and should continue to do so over the next 12 – 24 months,” said Vaghefi.  “The Collier Companies’ offering for either a sale or an equity recapitalization for these two premier properties is a true indication that now is the time to invest in this sector.”

The Enclave, which is adjacent to the University of Florida campus and just 10 minutes from Santa Fe College, is a 531,360-square-foot property featuring 412 units.  Completed in 2008, the property offers a total of 13 buildings with 1,076 beds and is 97 percent occupied as of Fall 2010.

Seminole Grand is located approximately 1.5 miles from Florida State University, is less than six minutes from Tallahassee Community College and nine minutes from Florida Agricultural and Mechanical University.  The 557,640-square-foot property features 486 apartment homes.  Renovated in 2008, the property offers a total of 36 buildings with 1,554 beds and is 98 percent occupied as of Fall 2010.

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 website, www.joneslanglasalle.com.