Jones Lang LaSalle Incorporated provides global commercial real estate services and investment management through JLL and LaSalle Investment Management. News about JLL commonly covers leasing advisory, workplace, project and property management, capital markets assignments, investment sales, debt advisory, hotel and hospitality transactions, and mandates tied to office, industrial, hotel, multi-family, retail and data center properties.
Company updates also include quarterly operating results, margin and revenue trends across advisory and recurring service lines, capital allocation actions such as share repurchases, strategy briefings, and JLL research on real estate markets. LaSalle Investment Management updates relate to client investment activity across private assets and publicly traded real estate securities.
JLL's Hotels & Hospitality Group announced the successful sale of the Diplomat Beach Resort in Hollywood, Florida, which features 1,000 rooms and 200,000 square feet of meeting space. The transaction, closed on February 6, 2023, represents the third largest single-asset hotel sale in U.S. history. A joint venture between Credit Suisse Asset Management and Trinity Fund Advisors LLC acquired the resort, which was extensively renovated with a $90 million investment in 2018. The new owners will manage the resort under the Curio Collection by Hilton. This deal highlights the robust recovery of the South Florida lodging market post-COVID.
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Jones Lang LaSalle (NYSE: JLL) has scheduled a conference call on February 28, 2023, at 9 a.m. Eastern time to discuss its fourth quarter 2022 results. Investors can access the call by dialing (844) 200-6205 and using conference ID 817036. A live webcast will be available at ir.jll.com, along with presentation slides. A replay will be accessible for 12 months post-event on the same website. JLL is a global leader in real estate and investment management with annual revenue of $19.4 billion and over 102,000 employees worldwide.
JLL's Capital Markets group has secured a $290 million construction loan for a new life sciences facility at 3201 Cuthbert Street in Philadelphia, developed by Gattuso Development Partners and Vigilant Holdings. The 11-story building will be the city's largest lab facility, featuring 519,647 square feet of lab space and 11,908 square feet of retail space. Notably, 45% of the lab space is pre-leased to SmartLabs and Drexel University. This project reflects Philadelphia's growing profile as a life sciences hub, with significant interest expected due to high demand and limited supply in the area.
JLL has been recognized by Frost & Sullivan as the 2022 Asia-Pacific Facility Management Company of the Year, highlighting its strong market leadership and customer confidence. With an impressive average renewal rate of 95% and over 450 customers, JLL's tailored strategies and innovative solutions have led to significant growth. The company emphasizes sustainability through its Canopy platform, which helps clients achieve their environmental goals. JLL's commitment to operational excellence and customer value is underscored by a dedicated workforce of 14,000 across the region.
JLL (NYSE: JLL) hosted an Investor Briefing on Nov. 16, 2022, where leadership discussed the company's long-term growth strategy and set 2025 financial targets. Expected consolidated fee revenue for 2025 is projected between $10 billion and $11 billion, with an adjusted EBITDA margin anticipated between 16% and 19%. JLL aims to maintain a net debt to adjusted EBITDA leverage of 0.0x to 2.0x. The briefing highlights JLL's positioning to capitalize on technological advancements and sustainability trends in the commercial real estate sector.
JLL (NYSE: JLL) has revealed a new global brand positioning, 'SEE A BRIGHTER WAY', aimed at enhancing its services for clients in a complex real estate landscape. Unveiled in Times Square, this initiative showcases JLL's expertise in technology, sustainability, and the future of spaces. The brand aims to leverage advanced technology to improve workplace performance and efficiency, while also focusing on sustainable strategies to reduce carbon emissions. JLL is a leading real estate and investment management firm with an annual revenue of $19.4 billion.
Jones Lang LaSalle (NYSE: JLL) has appointed Moses Ojeisekhoba as an independent, non-executive member of its Board of Directors effective Dec. 1, 2022. Ojeisekhoba brings over 20 years of experience in financial services, serving as CEO Reinsurance for Swiss Re since July 2016. His leadership encompasses global operations and corporate strategy across 20 countries. JLL's Chairman noted Ojeisekhoba's expertise in financial risk and governance will be vital for the firm's growth strategy. JLL reported annual revenues of $19.4 billion and operates in over 80 countries.
JLL's recent research highlights the urgent need to triple retrofitting rates to meet the Paris Agreement's 2050 decarbonization targets, particularly amid rising energy costs. The study reveals that retrofitting can enhance building value through increased rents and occupancy rates. It estimates a $3 trillion investment is required in the office sector to achieve these goals. Collaboration among stakeholders is crucial to transition to low-carbon economies effectively. The findings emphasize that retrofitting is both a viable and responsible strategy for sustainable real estate management.