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News release

Atlanta, GA.

Jones Lang LaSalle Expanding Multifamily Investment Sales Dominance along Eastern Seaboard with Market-Leading Hires in Atlanta

Derrick Bloom and David Gutting to join forces to grab leading market share


ATLANTA, March 16, 2011 – Jones Lang LaSalle today announced the firm is expanding its multifamily investment sales dominance along the Eastern Seaboard with the addition of the key players from the No. 1 and 2 ranked multifamily brokerage teams in Atlanta.  Industry veterans Derrick Bloom and David Gutting will join Jones Lang LaSalle as Managing Directors, along with Senior Vice President Vince Lefler and Vice President Porter Jones, to strengthen the firm’s Capital Markets platform in the Southeast and along the East Coast, which already includes prominent retail and office investment sales teams in the Atlanta market and serves as the base for the firm’s Freddie Mac Program Plus® Seller/Servicer and loan servicing group.  The new multifamily team will partner with Jubeen Vaghefi, Managing Director and national head of the firm’s multifamily investment sales business to strengthen the firm’s multi family client service offerings along the East Coast.

“These two teams have held the number one or two rankings for nine out of the last 10 years in Atlanta and have been responsible for roughly 65 percent of the Atlanta transaction market share since 2003.  Derrick, David, Vince and Porter have dominated the Southeast market’s multifamily sales volume and their scope and depth of expertise will drive added growth for our Capital Markets business in Tennessee, Alabama and North and South Carolina,” said Vaghefi.  “The addition of these market veterans will allow the firm to create a second-to-none multifamily presence along the Eastern seaboard, and establish us as a top leader in this sector in the entire country.”

Added Jay Koster, President of Jones Lang LaSalle’s Americas Capital Markets, “These additions are another growth step that advances our strategic plan for Capital Markets in the Southeast and nationally. We added the leading multifamily team of Al Cissel and Scott Melnick in Washington, D.C. last year, and continued our growth momentum with the completion of our Primary Capital Advisors’ acquisition. Now the addition of this new team will allow us to drive our investment sales and Freddie Mac lending volume in the Southeast, furthering our goal of becoming the leading player in this strong and growing sector. We now have a full service multifamily platform to drive client service that no other competitor can match.”

Bloom is formerly a partner with Apartment Realty Advisors, Inc. (ARA) and ARA Finance, Inc., having been a founding partner of the firm in 2000.  Since that time, Bloom has participated in the expansion of more than 20 offices and five specialty practice groups at that firm.  Prior to ARA, Bloom served as a Real Estate Consultant with Deloitte & Touche, LLP and before that worked within the tax consulting division of the Atlanta office of Arthur Andersen LLP, where he specialized in creative tax solutions for joint ventures.  Also a Certified Public Accountant (CPA), Bloom received his bachelor’s and master’s degrees in Accounting from the University of Georgia.  

“We have a unique opportunity to dominate the marketplace by joining the key players of two industry leading teams to form an unbeatable platform focused on delivering our clients the best service available in the industry,” said Bloom. “We’re looking forward to applying the strength of our relationships throughout the Southeast with the breadth of Jones Lang LaSalle’s global network to drive value for our client base across the nation. Under our new platform our team can deliver a greater depth of service and this venture is ultimately a win for our clients.”

David Gutting has more than 22 years of multifamily experience throughout the Southeast region in all aspects of multifamily acquisitions, asset management, dispositions, development, and brokerage.  Over the last decade, David has been a consistent annual recipient of the Atlanta Board of Realtor's prestigious "Top 10 Investment Sales Brokers."  In Gutting's previous role as Executive Director at Cushman & Wakefield, the Atlanta team concluded the sale of more than $7.5B in multifamily assets throughout the region including Georgia, Alabama, North Carolina, South Carolina, Tennessee, Kentucky, Louisiana, and Mississippi.  The Atlanta team consistently ranked as the top Cushman & Wakefield multifamily platform throughout the nation.  Prior to that, Gutting was Vice President of Development for Davis Development and also served as Vice President of Acquisitions for Pension Fund Advisor, Raymond James Realty Advisors, (now Simpson Housing).  He received his bachelor’s degree in corporate finance and his master’s of business administration degree in finance from Florida State University. 

Vince Lefler, also joining the team from ARA, will focus primarily on secondary Southeast markets such as those in Tennessee, Alabama and the Carolinas.  Lefler was instrumental in growing ARA’s non-Atlanta sales.  Under his tenure, MF sales in these territories grew by more than 800%.  Prior to joining ARA, Vince had a successful career at IBM as a Software Consultant focusing on the Financial Services and Healthcare industries.  Lefler received his bachelor’s degree from Mercer University.

Also joining the firm from Cushman & Wakefield is Porter Jones.  Jones focuses on institutional sales in the Atlanta area and assists developer clients with sourcing joint venture equity.  He received his bachelor’s degree from Duke University and his MBA from Emory University’s Gouizueta Business School.

Jones Lang LaSalle Atlanta Market Director Clark Gore concluded, “This move places our Capital Markets business firmly at the top of the market in Atlanta. We continue to expand our local offerings and our new additions is evidence of our commitment to drive tangible benefits for our clients that include providing the industry’s best talent to solve their challenges.”

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 $43 billion in investment sale and debt and equity transactions 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 185 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.