JLL announces acquisition of proptech company Skyline AI
JLL (NYSE: JLL) has agreed to acquire Skyline AI, a leading AI technology firm focused on transforming commercial real estate through machine learning. The acquisition aims to leverage Skyline AI's unique datasets and algorithms to enhance JLL's capabilities in property value prediction, cost savings, and investment analysis. Skyline AI's platform processes data from over 300 sources, enabling actionable insights for JLL clients. This strategic move follows JLL's previous investment in Skyline AI through its venture fund, JLL Spark.
- Acquisition expands JLL's AI capabilities in commercial real estate.
- Skyline AI's proprietary technology integrates into JLL's offerings for improved client insights.
- Partnership enhances JLL's competitive edge with market-leading data analytics.
- None.
CHICAGO, Aug. 11, 2021 /PRNewswire/ -- JLL (NYSE: JLL) today announced that it has reached an agreement to acquire Skyline AI, a leading artificial intelligence (AI) technology company that is transforming commercial real estate (CRE) using proprietary machine learning models to gain a competitive advantage in the origination and analysis of real estate opportunities. The transaction is expected to close shortly, following completion of customary closing conditions.
One of the largest challenges in CRE is the abundance of fragmented data. Skyline AI uses unique data sets, AI and Machine Learning (ML) algorithms to process data quickly and drive actionable insights for real estate experts.
"The acquisition of Skyline AI is a significant step for JLL as we look to provide the most strategic and creative advice to our clients," said Richard Bloxam, CEO of Global Capital Markets, JLL. "When you combine the intelligence of the best advisors on the ground with a quantitative expert team and AI data analysis, you get insights that are beyond human and create a competitive edge for JLL and our clients."
JLL will also incorporate Skyline AI technology and proprietary data into its products so JLL clients can better predict future property values, improve cost savings, identify promising investment opportunities and make critical business decisions, such as when to raise rent, renovate or sell. Skyline AI's AI data analysis coupled with JLL's industry expertise will aid faster decision-making and access to trends for JLL clients.
Skyline AI was founded in 2017 by serial technology entrepreneurs Guy Zipori, Amir Leitersdorf, Iri Amirav and Or Hiltch, who have a proven track record of building, scaling and selling technology companies. A major player in the CRE market, Skyline AI was named one of the most innovative AI startups by the CB Insights Global AI 100 list. JLL global venture fund JLL Spark has been an investor in Skyline AI since 2018.
"This acquisition demonstrates the value and synergies of JLL Spark, as we invest in innovative proptech companies and leverage the resources of JLL to accelerate their growth," said Yishai Lerner, co-CEO, JLL Technologies (JLLT), a business division of JLL dedicated to CRE technology. "Our teams consist of knowledgeable real estate experts and world-class technologists who successfully bring new AI offerings like Skyline AI into the fold and provide the best insights to our clients, accelerating JLL's leadership in CRE technology."
Skyline AI's platform uses proprietary AI/ML models to process data from more than 300 data sources—the multifamily industry's largest and most accurate dataset—and tracking 10,000 attributes such as owner information, property characteristics, demographics, historical transactions and debt for 400,000 multifamily properties across the U.S. Over time, Skyline AI's platform identifies discrepancies and determines which information is most accurate to help investors maximize their investment and leasing opportunities.
"JLL provides the perfect platform to realize our vision of transforming CRE using AI," said Guy Zipori, co-founder and CEO, Skyline AI. "Skyline AI has worked closely with JLL as an investor since 2018. The next natural step is to become part of JLL, a multi-billion-dollar global company that sees the transformative power of the Skyline AI platform."
J.P. Morgan acted as an advisor to Skyline AI in this transaction.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of
About Skyline AI
Skyline AI is a leading artificial intelligence technology company transforming real estate by using a proprietary ensemble of machine learning models to gain a competitive advantage in origination and analysis of commercial real estate. The company was founded in 2017 by serial technology entrepreneurs Guy Zipori, Amir Leitersdorf, Iri Amirav and Or Hiltch who have a proven track record of building, scaling and selling technology companies together in the past. The company is backed by Sequoia Capital, TLV Partners, Nyca Partners and others.
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