Jones Lang LaSalle, Inc. - JLL STOCK NEWS

Jones Lang LaSalle (NYSE: JLL) announced the appointment of Kylie Kendrick as Chief Operating Officer effective June 7, 2021. Reporting directly to CEO Christian Ulbrich, Kendrick will oversee key corporate functions, aiming to enhance operational efficiency. With over 16 years of experience from HSBC and other financial institutions, she is expected to drive significant improvements in JLL's operational processes. Kendrick holds degrees in Economics and Finance and has a robust background in operational excellence.

Jones Lang LaSalle (NYSE: JLL) has appointed Tina Ju as an independent non-executive member of its Board of Directors, enhancing its governance. Ju, a venture capital expert with over 30 years of experience in investment banking, will contribute significantly to JLL's growth strategies, especially in Asia and China. Her background includes leadership roles at KPCB China and TDF Capital, along with extensive board experience in private and public companies. The company also announced the departure of Ming Lu and Martin H. Nesbitt from the Board.

Jones Lang LaSalle (NYSE: JLL) has announced an investor webcast on May 20, 2021, from 1 to 2 p.m. CDT. The event will feature CEO Neil Murray discussing the Corporate Solutions division, which focuses on human-centric and sustainable real estate solutions. Participants can register via the Investor Relations website. The webcast will include a brief overview and a live Q&A session. A replay will be available for 90 days post-event.

Jones Lang LaSalle (JLL) reported a 4% decrease in consolidated revenue for Q1 2021, totaling $4.0 billion, and 7% drop in fee revenue at $1.4 billion. Despite pandemic challenges, Asia Pacific showed growth in Property & Facility Management, while transaction revenues declined in the Americas and EMEA. Adjusted EBITDA rose 99% year-over-year to $190.1 million. Notable gains included a $12 million business sale and $34.7 million from proptech investments. JLL's credit facility maturity was extended to 2026, aligning with sustainability goals.

On May 4, 2021, JLL announced its commitment to achieving net zero carbon emissions by 2040 across all operations and client sites. This initiative will see them abate 95% of their 2018 greenhouse gas emissions, with a maximum offset of 5%

JLL also signed The Climate Pledge, reinforcing its leadership in climate action and demonstrating a commitment to sustainability. The firm previously joined the World Green Building Council and set science-based carbon targets. JLL aims to assist clients in decarbonizing portfolios and will share its pathways to net zero later this year.

JLL Capital Markets has secured a construction loan exceeding $400 million for the Genesis Marina life science campus in Brisbane, California. This upcoming 570,000 sq. ft. facility will be situated within a premier life science cluster and is expected to address the growing demand for specialized life science spaces. The financing has attracted significant interest, reflecting the high demand for such developments, driven by the surge in life science activities post-pandemic. JLL aims to support Phase 3 Real Estate Partners and Bain Capital Real Estate in realizing this project.

JLL has been appointed by STACK Infrastructure to assist with leasing at its New Albany data center campus, which offers 40 megawatts of critical capacity. This campus features a Tier III data center with 4MW of available capacity and a potential built-to-suit opportunity of 24MW. The New Albany area is gaining recognition as a prime data center location due to its reliable power and robust fiber networks. The announcement follows significant growth in the data center industry, with historic absorption levels reported across major U.S. markets.

On April 22, 2021, JLL Capital Markets successfully closed the sale of an $295 million portfolio of 11 retail buildings net leased to Stop & Shop across Connecticut, Massachusetts, and Rhode Island. The deal included $157.95 million in acquisition financing. The properties, each with long-term leases, are positioned in densely populated markets and are characterized as pandemic- and recession-resistant. The Inland Real Estate Group acquired the assets, cementing the appeal of grocery-anchored retail properties as a preferred investment class amidst the recovery phase.

On April 20, 2021, JLL announced the launch of Experience / Anywhere, a service aimed at simplifying the transition to hybrid work models. This initiative responds to the rising demand for flexible working arrangements, with one-third of companies adopting a hybrid strategy. The offering includes a Program Management Office to operationalize hybrid strategies and a Hub providing resources for employee well-being. JLL aims to enhance workplace culture and promote productivity regardless of employees' work locations, signaling a shift in the future of work.