Welcome to our dedicated page for Jones Lang Lasalle news (Ticker: JLL), a resource for investors and traders seeking the latest updates and insights on Jones Lang Lasalle stock.
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.
On Nov. 4, 2021, JLL announced a $800 million joint venture with Arden Group and Arcapita Group focused on multi-tenant warehousing in major U.S. markets. The venture's initial acquisition includes an 18-property, 5-million-square-foot portfolio for $550 million across cities like Atlanta and Dallas. An additional $250 million investment will expand the portfolio to 32 properties totaling over 7 million square feet. The joint venture aims to increase asset value to $2 billion, targeting infill warehouses amidst growing logistics demand and rent growth.
Jones Lang LaSalle (NYSE: JLL) reported a robust Q3 2021 performance, achieving consolidated revenue of $4.9 billion, a 22% increase year-over-year, and fee revenue soaring 45% to $2.1 billion. The growth was led by Capital Markets and Leasing, with respective increases of 103% and 73%. Net income attributable to shareholders reached $237.2 million, representing an 80% rise.
The company also repurchased $150 million in shares, demonstrating its commitment to returning capital to shareholders.
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JLL announced the successful sale of a nine-property office portfolio in San Diego for $315.4 million, totaling 371,281 square feet. The buyer, Longfellow Real Estate Partners, plans to transform the properties into a state-of-the-art life sciences campus. The buildings are situated on 20.56 acres in the Sorrento Mesa submarket, surrounded by major life sciences institutions. The JLL Capital Markets team, led by Managing Directors Lynn LaChapelle and Bob Prendergast, facilitated the sale, highlighting the strong investor interest in life sciences opportunities.
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On October 25, 2021, JLL's Hotels & Hospitality Group announced a $450 million refinancing for the Hyatt Regency Waikiki Beach Resort & Spa in Honolulu, Hawaii. The loan, secured for five years with a floating rate from Deutsche Bank and Goldman Sachs, highlights the strong recovery in hotel demand post-pandemic. The resort, with 1,230 keys and multiple amenities, is strategically located near key attractions. This refinancing indicates robust lender interest, further supported by JLL's track record of over $83 billion in transactions in the hospitality sector over the past five years.
JLL (NYSE: JLL) has announced its agreement to acquire Building Engines, a premier building operations platform, for approximately $300 million. This acquisition aims to enhance JLL's technology capabilities and streamline building management processes across over 3 billion square feet of commercial real estate. The transaction is expected to close in Q4 2021, pending regulatory approvals. Building Engines will continue to serve existing clients and expand its platform through integration with JLL's technology products.
Jones Lang LaSalle Incorporated (NYSE: JLL) has announced the release date for its third quarter 2021 results, set for November 3, 2021, at 7:30 a.m. EST. A live webcast and teleconference will follow at 9:00 a.m. EST. Investors can register for the call via the company's Investor Relations website. JLL, a professional services firm specializing in real estate and investment management, reported annual revenue of $16.6 billion in 2020 and operates in over 80 countries with more than 92,000 employees.
JLL (NYSE: JLL) has appointed Joe Silva as Chief Information Security Officer to enhance its information security strategy. Silva will collaborate with global technology teams, overseeing threat management and security policies. His experience includes cybersecurity leadership at TransUnion and Symantec, aligning with JLL's mission to leverage technology in commercial real estate. JLL, with 2020 revenue of $16.6 billion and operations in over 80 countries, seeks to reshape the future of real estate through technology-driven solutions.
Moderna, Inc. (NASDAQ: MRNA) has announced plans to invest in a new 462,000 sq. ft. science center in Cambridge, Massachusetts, aiming for LEED Zero certification. This facility will support its mRNA therapeutics and vaccines, focusing on sustainability and collaboration. Construction has begun, with phased move-in expected in 2023. Alexandria Real Estate Equities (NYSE: ARE) is the development partner, while Jones Lang LaSalle (NYSE: JLL) facilitated the site selection. Moderna's pipeline includes 37 programs, 22 of which are in clinical studies.