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What Fueled JLL’s Acquisition of HFF?

In looking at opportunities to grow capital markets, JLL was clear that any target would need to closely align with its culture and strategic vision, and it is confident the acquisition of HFF meets these criteria.

Jay Koster Jay Koster says JLL expects to execute more than $1 billion in transactions every workday.

DALLAS—Earlier this month, Jones Lang LaSalle Incorporated closed its acquisition of HFF, which is now wholly owned by JLL and certain of its subsidiaries, and will do business as JLL. This acquisition was first announced and unanimously approved by each company’s board of directors in March 2019 and received approval from HFF’s shareholders earlier this month.

The acquisition price was approximately $1.8 billion, consisting of a combination of cash and JLL stock. JLL funded the cash portion of the purchase price consideration with a combination of cash reserves and its existing syndicated credit facility. The combination is expected to deliver significant run-rate synergies estimated at approximately $60 million for two to three years.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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