JLL Buys HFF for $2B

JLL Buys HFF for $2B

March 19, 2019
New York Attorney General Letitia James and New York Superintendent of Financial Services Linda Lacewell have announced a $3.75 million settlement against Columbia, S.C.-based Vision Property Management LLC
In one of the largest takeovers in the commercial real estate space, Jones Lang LaSalle Inc. (JLL) has announced that it will acquire all outstanding shares of HFF Inc. in a cash and stock transaction with an equity value of approximately $2 billion.
As part of the transaction, HFF CEO Mark Gibson will join JLL as CEO of Capital Markets, Americas, and will become co-chairman of its Global Capital Markets Board. In a press statement, JLL noted the acquisition will enable it to “rapidly scale its U.S. Capital Markets presence, accelerate growth of its debt advisory business in Europe and Asia Pacific and drive increased operating efficiency globally.”
“The combination with HFF provides a unique opportunity to accelerate growth and establish JLL as a leading capital markets intermediary, with outstanding capabilities,” said Christian Ulbrich, Global CEO of JLL. “We have long admired HFF for its expertise and leading reputation in the industry, as well as its client-first culture of teamwork, ethics and excellence, which aligns with our own. I believe that combining our organizations will deliver a range of compelling benefits for our clients, employees and shareholders.”