JLL secures $145.5 million recapitalization financing for The Generation Companies Portfolio

​RALEIGH, N.C., October 12, 2016 - JLL's Hotels & Hospitality Group is pleased to announce the firm secured a $145.5 million recapitalization financing on behalf of The Generation Companies and its partner StepStone Group Real Estate, LP for a portfolio consisting of 23 select service, extended stay hotels. The 2,652-room portfolio is positioned across key geographic locations and will continue to be managed by The Generation Companies, LLC. An affiliate of Blackstone Mortgage Trust provided the non-recourse, floating-rate financing.

Managing Director Bill Grice​ and Senior Vice President Nick Baer led the JLL team on the transaction.

JLL's Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $68 billion worldwide. Between negotiating property deals, the group's 350-person global team also closed more than 4,400 advisory, valuation and asset management assignments. To find out more visit: www.jll.com/hospitality

-Ends-

About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

Jones Lang LaSalle Inc. published this content on 21 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 October 2016 15:02:09 UTC.

Original documenthttp://www.us.jll.com/united-states/en-us/news/4257/extended-stay-portfolio-attracts-global-investor

Public permalinkhttp://www.publicnow.com/view/3E16E30377DA5ED7C54062A94DEBA983E10BA0AE