Jones Lang Lasalle Inc Stock Price, News & Analysis

On February 14, 2022, JLL announced securing a $260 million loan for the East Market project in Philadelphia, a mixed-use development consisting of residential, retail, office, and parking facilities. The funding was arranged through Pacific Life Insurance Company and represents a partnership involving National Real Estate Advisors, JOSS Realty Partners, SSH, and Young Capital. Once completed, the project is expected to generate over $1 billion in new investments and will feature more than one million square feet of development, reshaping the Market East neighborhood.

On February 3, 2022, GRIT, a joint venture of six firms, announced a partnership with JLL to market the Bronzeville Lakefront megadevelopment in Chicago. This multibillion-dollar project aims to revitalize the 100-acre site, providing mixed-income housing, retail, office spaces, and a life sciences hub. The first phase includes the Bronzeville Innovation Center, focusing on healthcare startups, and expects to generate $8.2 billion in economic impact. JLL was chosen for its commitment to diversity and expertise in complex commercial real estate.

JLL has appointed Christian Whitaker as the new Global Head of Sustainable Operations, overseeing its Energy and Sustainability Services organization. This role aims to enhance JLL's unified sustainability strategy, assisting clients in decarbonization and achieving environmental goals. Whitaker, with over 20 years in energy and sustainability, previously served at Siemens, where he led global energy services. His appointment aligns with JLL's commitment to providing innovative sustainability solutions as governments and businesses target ambitious environmental objectives.

Building Engines has announced enhancements to its Prism platform, introducing an advanced, fully integrated HVAC management solution. This upgrade allows owners, operators, and tenants to automate HVAC maintenance and compliance, improving visibility and data accuracy. The features include inventory management, tenant compliance, and bid management, aimed at enhancing operational efficiency. These developments follow JLL's strategic acquisition of Building Engines, indicating a focus on expanding the platform's reach in the commercial real estate sector.

On January 25, 2022, JLL's Capital Markets group announced a $265 million refinancing of a master-planned beach resort in Oceanside, California. The resort features 387 keys, including the 161-key Mission Pacific boutique hotel and the 226-key Seabird Resort. JLL represented S.D. Malkin Properties to secure a floating-rate, interest-only loan through ACORE Capital. The refinance will facilitate cost savings and flexibility while retiring previous construction loans. This move underscores the rising appeal of Oceanside's hospitality market.

JLL's latest report highlights the crucial role of innovation and talent in urban and real estate recovery following the COVID-19 pandemic. As cities adapt to changing work and lifestyle preferences, those with strong innovation sectors will lead in economic growth. The U.S. maintains its dominance in the global innovation market, with Silicon Valley at the forefront. However, cities in Asia Pacific like Seoul and Beijing are emerging as key players. The report suggests that talent-rich cities like San Francisco and London are well-positioned for recovery.

On January 24, 2022, JLL secured a $318.45 million acquisition loan for a multi-housing portfolio comprising 1,494 units across Maryland, Virginia, and Alabama. The financing, arranged through J.P. Morgan Chase Bank, is a floating-rate, non-recourse bridge loan aimed at facilitating a Single Asset Single Borrower (SASB) securitization. The portfolio includes six properties, primarily in the Washington, D.C. suburbs, benefitting from robust demand for workforce housing, with JLL's Capital Markets team successfully navigating a quick closing timeline.