Jones Lang LaSalle's prepared statement did not identify the owner of the properties or give the value of the leasing/management contract.
However, GlobeSt.com research shows the New York-based owner as Koala Realty Holding Co. Inc.
A 1997 Koger Equity annual report identifies Koala's owner as a co-mingled pension trust fund whose trustee is Morgan Guaranty Trust Co. of New York and the investment manager as J.P. Morgan Investment Management Inc.
The Koger annual report identifies the separate Koala companies as Koala Miami realty Holding Inc.; Koala Norfolk Realty Holding Inc.; Koala Raleigh Realty Holding Inc.; Koala Richmond Realty Holding Inc.; and Koala Tampa Realty Holding Inc. They are collectively known as Koala.
Officials at the Koala companies and at J.P. Morgan Investment Management Inc. couldn't be reached by GlobeSt.com for comment on the leasing/management contract or their current affiliation with each other.
Area brokers in the four cities, however, tell GlobeSt.com the average national combined office leasing and management fee is about $4 per sf. That would make the 2.7 million-sf contract valued at about $11 million.
The properties are the 700,000-sf Koger Center West End, Richmond, VA; the 250,000-sf Koger Center at the Crossroads, Raleigh, NC; the 233,000-sf Koger Center Norfolk, Norfolk, VA; and the 30-building, 1.5 million-sf Koger Center, Miami.
Jones Lang LaSalle is also advising the owner on selling and financing options. Jones Lang LaSalle would not identify any of the principals in the ownership group.
The broker's prepared statement says the North Carolina and Virginia properties collectively are known as Koger Center West End.
Coordinating assignments for the contract are JLL's John Padgham, managing director and Noble Carpenter, managing director, capital markets.
(Please see related story on the Miami page.)
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