Tag Archives: Jones Lang LaSalle

According to Jones Lang LaSalle, the majority of the commercial real estate (CRE) industry can expect a commercial comeback in 2011. The economic recovery has relied on government stimulus and monetary policy but the results have been tepid at best. JLL says 2011 will be the year the private sector takes the baton and starts to drive growth. The company predicts investment transaction volume will increase by 36 percent, apartments will top the ""hot list"" for investors, and the hotel sector will rebound more quickly than expected.

With the dawning of a new year comes the sense of starting fresh and leaving the previous year's baggage behind. A number of mortgage lenders are applying this same adage to their loan portfolios as the close of 2010 nears, and selling off blocks of nonperforming mortgage assets to clean up their balance sheets for a new year of business. It's a common trend for banks to get their house in order during the fourth quarter of a fiscal year, but this year, it seems there's a larger pool of eager buyers for soured real estate assets.

Jones Lang LaSalle recently hired Jon Goldstein as SVP of the firm's real estate investment banking practice in Washington, D.C. The company says a marked increase in the level of liquidity and record low interest rates has resulted in a surge of financing activity in the D.C. market. Goldstein brings more than 17 years' experience in the financial services industry to the firm, and will be responsible for debt and equity placement for all commercial property types.

Jones Lang LaSalle, a financial and professional services firm specializing in real estate, has added two new executives to its real estate investment banking practice in Southern California and Houston. Bob Morey joins the firm's Los Angeles office as an EVP, and Ross Cannizaro was hired to the firm's Houston office as a VP.

Jones Lang LaSalle and its partner Real Estate Disposition, LLC (REDC) will host a hotel-only note and REO auction in November with more than $420 million in primarily non-performing notes. The companies say it will be the largest hotel-note auction in the United States. The 62 notes and two REO properties are from five special servicers and two regional banks. They are backed by full and select service hotels throughout 25 states and carry an average unpaid balance of $6.4 million.

Jones Lang LaSalle and Real Estate Disposition, LLC, announced Thursday a list of almost $132 million in non-performing notes will go on the online auction site www.auction.com in October. In this roster are 33 primarily non-performing notes from two special servicers, two regional banks and one life company.