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NEW YORK CITY-In response to the needs of US-based hotel clients for advice in sourcing debt and equity capital to finance acquisition, refinancing, redevelopment and development of hotels, Jones Lang LaSalle Hotels has appointed Jeffrey Davis, EVP, to coordinate the growth of the hotel capital raising business in the US. Davis will be teaming up with Jere Lucey, a managing director with the real estate investment banking group for parent firm JLL.

Together, Lucey and Davis will advise Jones Lang LaSalle Hotels clients on their capital raising needs and provide hotel clients with the joint resources and relationships of JLL Hotels and JLL’s REIB group in structuring and sourcing hotel capital. The expanded effort will have an increased focus on providing financing advice to buyers of full service assets being marketed by JLL Hotels, accessing debt and equity available today for hotel development, and executing note sale opportunities on hotel assets, according to a prepared release. A JLL Hotels’ source tells GlobeSt.com that Davis is based in the New York City office. The source also notes that the time for the expansion is happening now because “it’s what clients need most.”

This expanded effort will complement the financing services provided by JLL Hotels Select Service Division, run by Adam Furth whose expertise and focus is financing select service assets. “Jeff Davis’ new role reinforces our commitment to accessing capital from all sources and to providing creative structures to our clients,” says Arthur Adler, managing director and CEO-Americas of JLL Hotels, in a prepared release. “Marrying the resources of JLL Hotels and our parent firm, JLL, will enable us to provide the best advice and service available to our clients in today’s changing market environment.” Over the past three years, the team has raised more than $2.7 billion in debt and equity for hotel clients.

Bart Steinfeld, who heads up JLL’s real estate investment banking group says in the release that “Jeff’s appointment will continue the growth of an industry leading capital raising platform unique in the hospitality industry. We continue to be in an environment where the structuring advice and execution expertise we provide delivers greater value than ever to our clients.”

Prior to joining JLL Hotels, Davis served as VP of asset management and business development for Ian Schrager at Morgans Hotel Group. Davis gained consulting experience at Arthur Anderson as a national hospitality consultant and corporate finance experience thereafter at Salomon Smith Barney where he completed more than $4 billion of private and publicly traded real estate transactions.

In 2007, JLL Hotels provided sale and purchase advice on 259 hotel transactions globally; representing a combined value of $13.9 billion, a total of 54,763 hotel rooms in 84 cities. In addition, advisory and valuation services were provided on 660 assignments globally for 182,048 rooms across more than 300 cities.

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