JONES LANG LASALLE INCORPORATED

(JLL)
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Delayed Nyse  -  04:00 2022-07-01 pm EDT
181.17 USD   +3.61%
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Jones Lang LaSalle Incorporated : JLL closes sale of Arlington multi-housing community adjacent to Amazon HQ2

05/25/2022 | 12:37pm EDT

WASHINGTON, D.C., May 23, 2022 - JLL Capital Markets announced today that it has closed the sale of 1221 and 1331 S. Eads St., a 534-unit, value-add multi-housing community in Arlington, Virginia.

JLL marketed the property on behalf of the seller, a partnership between Polinger Development Co. and State Street Global Advisors, and secured acquisition financing on behalf of the new owner.

With only 10 percent of the units renovated, the propertyprovides a premier value-add opportunity. The community amenities include fully revitalized lobbies and plazas in addition to an upgraded office leasing space, fitness center, coworking area and dog run.

The property is situated across the street from Metropolitan Park and Pen Place, the future homes to Amazon HQ2 and over 5 million square feet of Amazon office space and retail. The property is also a 10-minute drive from Virginia Tech's Innovation Campus, a $1 billion development expected to graduate 10,000 students with master's degrees in computer science over the next 20 years. Additionally, infrastructure spending in National Landing totaling $5 billion will contribute to local conveniences such as an additional Crystal City Metro entrance, advancements to Route 1 and the creation of an airport pedestrian bridge to Reagan National Airport.

The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Directors Robert Jenkins and Bret Thompson and Executive Managing Director Matthew Lawton.

The JLL Capital Markets Debt Placement team representing the borrower was led by Managing Director Kris Lowe, Senior Managing Director Jamie Leachman and Director Amit Kakar.

JLL's Capital Markets group 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 23 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2022 16:10:45 UTC.


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Financials (USD)
Sales 2022 10 269 M - -
Net income 2022 970 M - -
Net cash 2022 755 M - -
P/E ratio 2022 9,50x
Yield 2022 -
Capitalization 8 988 M 8 988 M -
EV / Sales 2022 0,80x
EV / Sales 2023 0,75x
Nbr of Employees 98 200
Free-Float 94,6%
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Number of Analysts 8
Last Close Price 181,17 $
Average target price 274,57 $
Spread / Average Target 51,6%
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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
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