JLL elevates client experience with leasing tech and brokerage acquisition

Rhea-AI Summary

JLL (NYSE: JLL) has announced an agreement to acquire Raise Commercial Real Estate, a technology-powered brokerage with a transformative digital real estate platform. This acquisition will provide JLL and its clients access to Raise's industry-leading leasing technology, enhancing JLL's global platform. Raise offers a cloud-based application that integrates every stage of the leasing lifecycle, from transaction and lease management to workplace and portfolio analytics.

The acquisition aligns with JLL's commitment to accelerating its digital leasing capabilities and delivering better client outcomes. Raise's platform will supplement JLL's existing leasing technology, such as Blackbird. Justin Bedecarre, Co-Founder and CEO of Raise, will become Head of Americas Leasing Innovation at JLL, reporting to Andy Poppink, CEO of Markets Advisory. The transaction is expected to close shortly, subject to customary closing conditions.

Positive

• Acquisition of Raise Commercial Real Estate enhances JLL's digital leasing capabilities
• Access to Raise's industry-leading cloud-based leasing technology platform
• Expansion of JLL's service offerings in the full leasing lifecycle
• Integration of Raise's technology with JLL's existing tools like Blackbird
• Potential for improved client outcomes and decision-making processes

Negative

• None.

Raise strengthens JLL's platform with market-leading technology for the full leasing lifecycle

CHICAGO, Oct. 1, 2024 /PRNewswire/ -- JLL (NYSE: JLL) today announced it has reached an agreement to acquire Raise Commercial Real Estate (Raise), a technology-powered brokerage that provides client solutions using a transformative digital real estate platform. This acquisition gives JLL and its clients access to Raise's industry-leading leasing technology, while further enhancing JLL's robust global platform. The transaction is expected to close shortly, subject to customary closing conditions.

Raise provides a cloud-based application designed to seamlessly help clients and their advisors integrate at every stage of the leasing lifecycle – from transaction and lease management to workplace and portfolio analytics. Built on proprietary technology, the Raise platform streamlines tasks while providing a market-leading digital experience. This technology will supplement JLL's existing leasing technology, such as Blackbird, to continue helping brokers advise clients to make confident business decisions. This transaction reaffirms JLL's commitment to accelerating its digital leasing capabilities to deliver better client outcomes.

"The acquisition of Raise illustrates our global, tech-powered approach and commitment to delivering consistent excellence for our clients at all stages of the leasing cycle," said Andy Poppink, CEO, Markets Advisory, JLL. "By integrating Raise with our global and local market expertise we will offer an integrated platform solution to our clients so they can swiftly make informed decisions with confidence and ease."

"Acquiring Raise highlights our continued commitment to our technology strategy of delivering the best proptech innovation for the benefit of our clients," said Mihir Shah, CEO, JLL Technologies. "Raise's platform, combined with JLL's technology suite and advanced AI capabilities, will be invaluable in accelerating our leasing tech journey."

Founded in San Francisco in 2016, Raise was the first brokerage to create a digital real estate management platform and has grown rapidly to have offices across the United States.  Co-Founder and CEO of Raise, Justin Bedecarre, will report to Andy Poppink as Head of Americas Leasing Innovation and will be responsible for leading Raise's integration into JLL's U.S. leasing business. 

"As we become a part of JLL we look forward to seamlessly integrating and expanding Raise's reach, bringing our approach to JLL's clients around the world," said Bedecarre. "We are eager to pair Raise's industry-leading technology with JLL's exceptional culture, values and client-centric approach, to create an elevated broker and client relationship."

In addition to the growth opportunities, Raise's culture and values closely align to JLL's – with a shared commitment towards teamwork, ethics and excellence. This is an exciting step in JLL's vision to shape the future of real estate for a better world, leveraging valuable insights from the commercial real estate industry's best intelligence and delivering data-driven solutions for JLL's clients.

"Raise strengthens JLL's platform with market-leading technology, seasoned brokers, and elite engineers to build innovative products for the full leasing lifecycle. This acquisition advances our services, offering a best-in-class experience to our clients," said John Gates, CEO, Americas Markets, JLL.

About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Contact: Jesse Tron
Phone: +1 914-424-0299  
Email: Jesse.Tron@jll.com

 

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SOURCE JLL-IR

FAQ

What company is JLL acquiring and how will it impact their business?

JLL is acquiring Raise Commercial Real Estate, a technology-powered brokerage. This acquisition will enhance JLL's digital leasing capabilities by providing access to Raise's industry-leading leasing technology platform, potentially improving client outcomes and decision-making processes.

How will the Raise acquisition affect JLL's (NYSE: JLL) technology offerings?

The Raise acquisition will supplement JLL's existing leasing technology, such as Blackbird, with a cloud-based application that integrates every stage of the leasing lifecycle. This will enhance JLL's ability to provide comprehensive digital solutions for transaction and lease management, workplace and portfolio analytics.

What role will Raise's CEO Justin Bedecarre have in JLL after the acquisition?

Justin Bedecarre, Co-Founder and CEO of Raise, will become Head of Americas Leasing Innovation at JLL. He will report to Andy Poppink, CEO of Markets Advisory, and will be responsible for leading Raise's integration into JLL's U.S. leasing business.

When is the JLL-Raise acquisition expected to close?

The acquisition is expected to close shortly, subject to customary closing conditions. No specific date was provided in the press release.