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News release

Mountlake Terrace, WA.

Jones Lang LaSalle Brings Creekside Village to Market in Suburban Seattle

Class A apartment community located in Mountlake Terrace, 15 minutes north of Seattle


MOUNTLAKE TERRACE, WA, Mar. 2, 2011 – Jones Lang LaSalle today announced the firm’s Northwest Multifamily Capital Markets team has been chosen to market Creekside Village for sale in Mountlake Terrace, Washington.  The 512-unit offering is located just 15 minutes north of downtown Seattle in South Snohomish County.  The property is expected to fetch $65 million.

Leading the Jones Lang LaSalle team on this transaction are Managing Director David Young and Vice Presidents Seth Heikkila and Corey Marx.

“Rents in this region are expected to rise by as much as 30 percent over the next five years,” said Young.  “We expect this well appointed apartment community to appeal to a wide variety of investors who are seeking a large, stabilized property with plenty of upside potential.”

Creekside Village offers 512 apartment units within 24 residential apartment buildings, as well as one residential/leasing building.  The property sits on approximately 43 acres at 4208 236th Street SW, just two miles from Interstate 5, where a large commuter station is located.  Floor plans include one, two and three bedrooms.  The property also offers numerous amenities including a fitness center and two outdoor swimming pools.

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 2010 alone, Jones Lang LaSalle Capital Markets completed an unaudited total of more than $41 billion in investment transactions and debt and equity globally. The firm’s dealmakers completed $33 billion in global investment sales and buy-side transactions, equating to nearly $140 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its office broker volumes by 257 percent in 2010 and is quickly gaining market share across all property types. Our Capital Markets team comprises approximately 800 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 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from more than 1,000 locations worldwide, including 185 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 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 $41 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.