Jones Lang Lasalle Inc Stock Price, News & Analysis

JLL (NYSE: JLL) announced the acquisition of Hank, an AI-driven virtual engineering platform based in Sacramento, focused on optimizing building management systems. This acquisition aims to enhance energy efficiency, air quality, and tenant comfort while increasing net operating income (NOI) for real estate investors. Hank's technology integrates with existing building systems to provide automated management and maintenance solutions. The co-founders bring significant experience in sustainability, and Hank will continue to serve its customers under JLLT, offering innovative solutions to improve investment returns and sustainability goals.

On January 5, 2022, JLL announced the successful closure of a $330 million sale of Bloc 83, a new trophy office development in Raleigh, North Carolina. This transaction marks the largest single real estate deal in Downtown Raleigh's history. Bloc 83 comprises two Class A office towers that are currently 79% leased, housing tenants such as Envestnet and First Horizon Bank. The development, which features various amenities, is strategically located in the rapidly growing Glenwood South district.

Riverside Investment & Development and Convexity Properties have partnered with Canyon Partners Real Estate to develop the 30-story office tower, 1900 Lawrence, in Denver. Canyon has invested $80 million in preferred equity alongside a senior construction loan from Bank OZK. Construction is set to start in March 2022, aiming for completion in early 2024. The project will feature over 700,000 square feet of office space and 10,000 square feet of retail, designed with advanced technology and sustainability in mind, including features that prioritize tenant wellness.

FCP, in partnership with Abacus Capital and Big Cypress Capital, has signed an 11,850-square-foot lease with Clancy & Theys Construction Company for their new Charlotte office at 22EIGHTEEN Toomey. This relocation aims to foster innovation and collaboration within the company. The Quarter South End is undergoing rapid development, including a 77,362-square-foot adaptive reuse project and a new luxury apartment community. The first phase of the office spaces is expected to be completed in late Q1 2022.

JLL has appointed Kevin M. Davis as the Americas CEO of its Hotels & Hospitality division. With over 20 years of experience, he has been instrumental in over $20 billion of hotel financings since joining JLL in 2013. Previously at Merrill Lynch and UBS, he executed transactions exceeding $10 billion in diverse asset classes. This move underscores the significance of JLL's Capital Markets business. Additionally, Jeffrey Davis will spearhead new business development for Hotels & Hospitality, driving further growth in this sector.

Jones Lang LaSalle (NYSE: JLL) will release its fourth quarter 2021 results on February 28, 2022, at approximately 7:30 a.m. Eastern time. Following this, a live webcast and teleconference will occur at 9:00 a.m. Eastern time. Registration for the conference is encouraged ahead of time and can be completed through the Investor Relations website at ir.jll.com. JLL is a leading professional services firm with reported annual revenue of $16.6 billion in 2020.

JLL announced a successful arrangement of $690 million in financing for a portfolio of 44 net-leased properties across the U.S., totaling 6.85 million square feet. The capital was secured from Wells Fargo Bank as a two-year, floating-rate, non-recourse loan, with additional support from United Overseas Bank. The diverse portfolio, primarily leased to reliable tenants across industries such as e-commerce and logistics, spans 611 acres in high-growth markets. JLL's Capital Markets group facilitated this financial deal, showcasing their expertise in real estate financing.