STOCKHOLM—JLL on Tuesday announced a pair of international acquisitions, expanding its capital markets business in Sweden with the purchase of AGL and its valuations business in Australia by acquiring Propell National Valuers, reportedly that nation's largest privately owned and integrated national valuation firm. Terms were not disclosed for either deal.

Founded in 1994, AGL has advised more than 200 clients on strategic and operational real estate financing including debt management, treasury management, debt advisory, risk management and derivatives. The addition of AGL, which is subject to regulatory approval, follows up the 2014 acquisition of investment advisory firm Tenzing.

“The AGL business makes an ideal complementary fit alongside JLL's existing capital markets capabilities, enabling the combined team of 45 to become a full service provider across the whole real estate capital stack,” says Daniel Gorosch, managing director of JLL Sweden. “Knowledge of the right financial solutions plays a greater role in today's world as international capital increases and as transactions become larger and more complex. This knowledge is a crucial factor for success in the real estate business.” Linus Ericsson, CEO of AGL, is joining JLL Sweden as head of debt & financial advisory.

Following the acquisition of Propell, its 200 employees will join JLL's 2,300-member team in Australia. Operating out of 12 offices in all states and territories across Australia, Propell specializes in residential dwelling and commercial mortgage valuations, as well as specialist commercial valuations.

“We have doubled the revenue of our valuations business in the past five years,” says Stephen Conry, CEO of JLL Australia. “We are now dramatically increasing JLL's specialization even further with the addition of the impressive Propell team, which will allow us to present a full suite of services under one banner.”