Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

JONES LANG LASALLE INCORPORATED

(JLL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Jones Lang LaSalle Incorporated : 13th Floor Investments buys Broward County development site for $18.5M

11/18/2021 | 03:23pm EST

MIAMI, Nov. 18, 2021 -JLL Capital Markets, along with 13th Floor Investments, announced today that it has closed the $18.5 million sale of the 15.5-acre Ashworth Park development site, one of the last large-scale urban development sites in South Florida.

JLL represented the seller, TS&B III, LLC, and procured the buyer, 13th Floor Investments.

The Ashworth Park development site consists of parcels at 700 and 1000 NE 1stAve. and 106, 200 and 2002 Pembroke Rd. and NE 7thSt., which together comprise a 15.5-acre rectangular development site. The assemblage is positioned immediately adjacent to The Big Easy Casino and within close proximity to employment centers, hospitals, schools and world-class retail in the heart of the Hallandale Beach submarket. The property is equidistant from downtown Fort Lauderdale and downtown Miami and has excellent accessibility throughout the region being located just off of North Federal Highway, within a mile from Interstate 95.

The Ashworth Park site is zoned for a variety of uses, including but not limited to, residential, office, retail and seniors housing. In addition to being located within a designated opportunity zone, the site is part of the Hallandale Beach Community Redevelopment Agency's program area, which fuels on-going development in the immediate area. Hallandale Beach is in the midst of urbanization with more than $1 billion of projects under construction, planned or approved by the city.

The JLL Capital Markets team representing the seller was led by Executive Managing Director Manny de Zarraga, Director Simon Banke, Managing Director Maurice Habif and Associate Jo Rousseau.

"This is a really exciting time for South Florida and the sale of the Ashworth Park development site represented a unique opportunity to acquire one of the last large-scale urban development sites in the rapidly urbanizing Hallandale market," De Zarraga said.

"This is an exceptional property. We are very excited about having the opportunity to develop a Class A multifamily project at the confluence of Miami-Dade and Broward counties," said Yair Wainberg, Associate Vice President at 13th Floor Investments. "The City of Hallandale has experienced tremendous growth in recent years, and we are motivated by the long-term prospects of this investment."

Miami-based 13th Floor Investments has a long track record of success focused on opportunistic real estate transactions and value investments in income generating assets throughout Florida and growth-oriented markets across the Southeast U.S. 13th Floor has invested over $713 million in equity transactions since its inception in 2008, representing a total estimated project value of over $2.6 billion.

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.

For more news, videos and research resources on JLL, please visit our newsroom.

Disclaimer

Jones Lang LaSalle Inc. published this content on 18 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2021 20:22:00 UTC.


ę Publicnow 2021
All news about JONES LANG LASALLE INCORPORATED
01:05pJONES LANG LASALLE INCORPORATED : Two-building industrial facility in sought-after Dallas ..
PU
11:54aJONES LANG LASALLE INCORPORATED : Tech companies outpace all other industries leasing a re..
PU
11:54aJONES LANG LASALLE INCORPORATED : Multi-tenant industrial facility in Rockland County sell..
PU
11:24aJONES LANG LASALLE INCORPORATED : $80M in refinancing secured for pre-stabilized multi-hou..
PU
11:14aJONES LANG LASALLE INCORPORATED : Orange County value-add retail center sells for $39.5M
PU
09:22aJONES LANG LASALLE INCORPORATED : JLL's Minneapolis Capital Markets group adds two retail ..
PU
01/18JONES LANG LASALLE INCORPORATED : Construction loan arranged for Inland Empire build-to-su..
PU
01/18JONES LANG LASALLE INCORPORATED : Faring acquires core retail property in Atlanta's dynami..
PU
01/18JONES LANG LASALLE INCORPORATED : $128M financing secured for Resort and Spa in Coachella ..
PU
01/18JONES LANG LASALLE INCORPORATED : Class A suburban Chicago office portfolio sold to new ow..
PU
More news
Analyst Recommendations on JONES LANG LASALLE INCORPORATED
More recommendations
Financials (USD)
Sales 2021 10 909 M - -
Net income 2021 883 M - -
Net Debt 2021 582 M - -
P/E ratio 2021 14,7x
Yield 2021 -
Capitalization 12 609 M 12 609 M -
EV / Sales 2021 1,21x
EV / Sales 2022 1,09x
Nbr of Employees 91 000
Free-Float -
Chart JONES LANG LASALLE INCORPORATED
Duration : Period :
Jones Lang LaSalle Incorporated Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends JONES LANG LASALLE INCORPORATED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 249,84 $
Average target price 323,83 $
Spread / Average Target 29,6%
EPS Revisions
Managers and Directors
Christian Ulbrich President, Chief Executive Officer & Director
Karen Brennan Chief Financial & Investment Officer
Siddharth N. Mehta Chairman
Allan Frazier Global Chief Information Officer
Benjamin Breslau Chief Research Officer
Sector and Competitors
1st jan.Capi. (M$)
JONES LANG LASALLE INCORPORATED-5.44%12 609
CBRE GROUP, INC.-6.54%33 261
KE HOLDINGS INC.9.49%26 235
ZILLOW GROUP, INC.-14.67%13 711
FIRSTSERVICE CORPORATION-17.96%7 147
COLLIERS INTERNATIONAL GROUP INC.-7.79%6 100