JLL Acquires Dallas-based The Apartment Group Ltd.
Jones Lang LaSalle has acquired The Apartment Group, Ltd., a multifamily brokerage firm in Dallas. The acquisition allows JLL to respond to increased client demand in the Dallas-Fort Worth metro area caused by rising employment, tightening occupancies and a near-tripling in the apartment construction pipeline. The price was undisclosed.
The Apartment Group’s founder and president, Jeff Price, will join as a Managing Director and lead the team, as well as the firm’s overall multifamily platform in Texas. Price will partner with Jubeen Vaghefi, International Director and leader of the multifamily investment sales business, to expand the firm’s nationwide multifamily coverage.
He will also work closely with Dallas Market Director Paul Whitman to broaden the market’s strong client service offerings, which already includes tenant representation, landlord leasing and project management.
Price has nearly 30 years of experience in commercial real estate, including brokerage, development, asset management and property management as well as public accounting. Recognized by his peers as one of Dallas-Fort Worth’s top brokers in “D” Magazine, Price received his bachelor’s degree in Business Administration and Accounting from the University of Texas at Austin.
In addition to Price, other individuals joining JLL’s multifamily team immediately include:
William Simmons joins the firm as Senior Vice President
David Fersing joins the firm as Vice President
Susan Gosslee, Alison Rutland and Janet McEowen also will be joining the firm.
From the beginning of 2011 to the end of 2012, Jones Lang LaSalle’s Capital Markets experts have closed 190 multifamily sales totalling more than $4.7 billion and financed 100 Freddie Mac-sourced loans, totalling more than $1.9 billion.