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.
Manhattan Village in Manhattan Beach is set to unveil a new collection of dining and retail options as part of its $250 million redevelopment. Scheduled for completion in 2021, the center will feature retailers like Faherty and Urban Outfitters, and dining establishments such as BOA Steakhouse and Smashburger. The revamped village will encompass 648,000 square feet of indoor/outdoor space, providing a modern shopping and dining experience reflecting the local coastal lifestyle. JLL has managed this redevelopment, aiming to offer a mix of high-profile tenants and enhance community engagement.
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On March 3, 2021, JLL (NYSE: JLL) announced a strategic partnership and minority investment in Roofstock, an innovative marketplace in the single-family rental (SFR) sector. This partnership allows JLL to enhance its services in the residential market, while Roofstock acquires Stessa, a leading asset management software for SFR investors, previously owned by JLL Technologies. The collaboration aims to provide comprehensive services for investors, facilitating seamless transactions and portfolio management in the growing SFR market, which is increasingly attracting institutional investors.
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On February 22, 2021, Jones Lang LaSalle (NYSE: JLL) announced that Christian Ulbrich, CEO, and Karen Brennan, CFO, will present at the Raymond James Annual Institutional Investors Conference on March 1, 2021, at 7:30 a.m. Eastern time. A live audio webcast will be available on the company's Investor Relations page, with a replay accessible for 90 days post-event. JLL is a leading firm in real estate and investment management, generating $16.6 billion in revenue and operating worldwide.
JLL has promoted Gilda Perez-Alvarado to Global CEO of its Hotels & Hospitality Group, succeeding Mark Wynne-Smith, who will focus solely on Valuation Advisory. Perez-Alvarado, previously CEO for the Americas, is tasked with driving global strategy and enhancing connectivity among Capital Markets teams, aiming to leverage JLL's international footprint and capitalize on rising investor interest in hospitality. With a track record of leading significant transactions, she will also spearhead ESG initiatives within the sector. JLL's Hotels Group has completed over $83 billion in transactions worldwide.
Jones Lang LaSalle (NYSE: JLL) reported its 2020 financial results, highlighting challenges due to the pandemic. Q4 diluted EPS was $4.80, while full-year diluted EPS dropped 29% to $7.70. Total Q4 revenue fell 12% to $4.8 billion, with fee revenue down 19%. Operating cash flow reached a record $1.1 billion. Notably, Property & Facility Management showed resilience. Cost mitigation measures saved approximately $330 million. The company repurchased $100 million in shares in 2020 and plans to repurchase an additional $500 million in 2021, aiming to strengthen its financial position moving forward.
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Lewis Investments, based in Round Rock, Texas, has successfully completed a $17 million refinancing deal with JLL (NYSE: JLL). This refinancing involves three core assets and was funded by FNMA, featuring a fixed rate of 2.77% for ten years. The refinance aims to secure a non-recourse loan and leverage historically low interest rates. Despite pandemic-related delays, JLL's team found alternative financing solutions, leading to a successful transaction that exceeded expectations.