Jones Lang LaSalle Incorporated : JLL Capital Markets retains top multi-housing talent in Minneapolis

MINNEAPOLIS, May 1, 2024 - With investor demand for multi-housing opportunities in the Twin Cities and upper Midwest surging, JLL Capital Markets has prioritized retaining top talent within the market. Sitting in the firm's Minneapolis office, Managing Director Josh Talberg continues to hold his leadership position on the multi-housing investment sales team in Minneapolis.

Since 2018, Talberg has played a pivotal role in shaping JLL's Capital Markets Group in Minneapolis, and is primarily responsible for institutional investment sales advisory, recapitalizations and joint venture equity for multi-housing properties and portfolios in the Minneapolis and Midwest region. Over the course of his career, he has collectively sold or capitalized over $3.5 billion of multi-housing assets. Notably, Talberg secured the buyer and helped lead the largest multi-housing asset trade in Minnesota history;orchestrated the largest multi-housing portfolio recap in the Twin Cities, which included achieving the highest price per unit in Minneapolis history; and served as the lead broker on both the first and second highest price per unit suburban multi-housing sales in Minnesota state history. In addition to his impressive sales activity, Talberg has consistently ranked as one of the top equity specialists in the multi-housing space for ground-up multi-housing construction since 2020.

"Talberg exemplifies the epitome of leadership in all aspects," said Colin Ryan, Senior Managing Director and Co-Head of the Minneapolis JLL Capital Markets office. "His unparalleled market expertise serves as an invaluable asset for clients, especially in the face of a challenging capital markets environment,"

Talberg collaborates closely with JLL's top multi-housing debt team, including Ken Dayton, Scott Loving, Bill Mork, Britta Lund, Scott Streif and Pat McMullen in Minneapolis, as well as with JLL Capital Markets' Senior Managing Directors David Williams and Brian Ranallo out of the St. Paul office.

By combining the market's top sales, equity, debt and structured finance services, the JLL multi-housing team has maintained its position as one of the top multi-housing team in Minneapolis for three years running.

"It's an absolute honor to be sitting in this seat," Talberg said. "The One JLL platform embodies the investment banking model for real estate, fostering open collaboration between specialists to assemble the best team for our clients. With an international reach but a local focus, JLL is building an exceptional team in Minneapolis, capitalizing on the city's strong downtown rebound, which presents an incredible opportunity for developers, owners and investors alike."

The Twin Cities metro has demonstrated robust multi-housing fundamentals, attracting attention from regional and national investors. The city stands out as one of the most supply-constrained markets in the U.S., with absorption far outpacing deliveries. The Twin Cities metro is short of 49,000 units to meet demand, and the greater Minneapolis metro is short by 60,000 units, driving overall rent growth in the sector. The area boasts the second-highest year-to-date absorption as a percentage of inventory compared to the 50 largest U.S. markets.

Moreover, with $340B+ of multi-housing debt maturing from 2023 to 2024 and $3.5B+ in the Twin Cities set to mature over 2024 and 2025, more transactions and capital events are anticipated.

"The Twin Cities has performed exceptionally over the past year and is a top-ranked market in terms of demand and growth. This has attracted new capital to the market, of which our platform is uniquely suited to serve. This has been evident having recently awarded one of the largest mutli-housing portfolios in the state's history, with more to come," added Talberg.

JLL 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 clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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