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Jones Lang LaSalle Incorporated (NYSE: JLL) is a global leader in commercial real estate and investment management services, with a history spanning over 200 years. Originating in the United Kingdom, JLL now operates in more than 80 countries and employs over 108,000 people. The company offers a comprehensive range of services to real estate owners, occupiers, and investors, including leasing, property and project management, and capital markets advisory.
Key Services:
- Leasing
- Property and Project Management
- Capital Markets Advisory
- Investment Management
JLL's investment management arm, LaSalle Investment Management, manages over $74 billion for clients across various real estate strategies. The company's strong global platform and local expertise make it a valuable partner in navigating complex real estate markets.
In recent performance highlights, JLL reported an operating income of $290.4 million for the fourth quarter of 2023, up from $254.7 million the previous year. The full year's operating income was $576.5 million, compared to $868.1 million in 2022. Despite economic uncertainties and elevated interest rates, JLL's resilient business lines such as Workplace Management and Property Management have shown significant growth.
JLL is also actively involved in sustainability through initiatives like the JLL Foundation, which supports startups focused on climate change mitigation. Furthermore, the company continues to expand its capabilities with strategic acquisitions, such as the recent addition of SKAE Power Solutions to enhance its data center technical services.
For further information, visit JLL Investor Relations.
Jones Lang LaSalle (NYSE: JLL) reported a robust Q3 2021 performance, achieving consolidated revenue of $4.9 billion, a 22% increase year-over-year, and fee revenue soaring 45% to $2.1 billion. The growth was led by Capital Markets and Leasing, with respective increases of 103% and 73%. Net income attributable to shareholders reached $237.2 million, representing an 80% rise.
The company also repurchased $150 million in shares, demonstrating its commitment to returning capital to shareholders.
JLL announced the successful sale of a nine-property office portfolio in San Diego for $315.4 million, totaling 371,281 square feet. The buyer, Longfellow Real Estate Partners, plans to transform the properties into a state-of-the-art life sciences campus. The buildings are situated on 20.56 acres in the Sorrento Mesa submarket, surrounded by major life sciences institutions. The JLL Capital Markets team, led by Managing Directors Lynn LaChapelle and Bob Prendergast, facilitated the sale, highlighting the strong investor interest in life sciences opportunities.
On October 25, 2021, JLL's Hotels & Hospitality Group announced a $450 million refinancing for the Hyatt Regency Waikiki Beach Resort & Spa in Honolulu, Hawaii. The loan, secured for five years with a floating rate from Deutsche Bank and Goldman Sachs, highlights the strong recovery in hotel demand post-pandemic. The resort, with 1,230 keys and multiple amenities, is strategically located near key attractions. This refinancing indicates robust lender interest, further supported by JLL's track record of over $83 billion in transactions in the hospitality sector over the past five years.
JLL (NYSE: JLL) has announced its agreement to acquire Building Engines, a premier building operations platform, for approximately $300 million. This acquisition aims to enhance JLL's technology capabilities and streamline building management processes across over 3 billion square feet of commercial real estate. The transaction is expected to close in Q4 2021, pending regulatory approvals. Building Engines will continue to serve existing clients and expand its platform through integration with JLL's technology products.
Jones Lang LaSalle Incorporated (NYSE: JLL) has announced the release date for its third quarter 2021 results, set for November 3, 2021, at 7:30 a.m. EST. A live webcast and teleconference will follow at 9:00 a.m. EST. Investors can register for the call via the company's Investor Relations website. JLL, a professional services firm specializing in real estate and investment management, reported annual revenue of $16.6 billion in 2020 and operates in over 80 countries with more than 92,000 employees.
JLL (NYSE: JLL) has appointed Joe Silva as Chief Information Security Officer to enhance its information security strategy. Silva will collaborate with global technology teams, overseeing threat management and security policies. His experience includes cybersecurity leadership at TransUnion and Symantec, aligning with JLL's mission to leverage technology in commercial real estate. JLL, with 2020 revenue of $16.6 billion and operations in over 80 countries, seeks to reshape the future of real estate through technology-driven solutions.
Moderna, Inc. (NASDAQ: MRNA) has announced plans to invest in a new 462,000 sq. ft. science center in
On September 28, 2021, JLL provided insights into the U.S. office market, highlighting delays in corporate re-entry due to the Delta variant. Despite uncertainty, JLL anticipates a recovery, emphasizing the office's role in enhancing culture and collaboration. Their proprietary 'comeback index' indicates a slight decline in office activity but suggests a rebound is likely in early 2022. A recent survey showed over 57% of working parents feel burned out, indicating a desire for office interaction. JLL advocates hybrid work models while emphasizing health and well-being as top priorities in future office designs.
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