Commercial real estate merger
ST. LOUIS/December 31, 2016 (STLRealEstate.News) Commercial real estate merger – A Chicago-based real estate firm has made a big merger acquisition this week that includes an agency affiliate in the St. Louis region. JLL, an expanding Chicago real estate firm, has officially acquired the Chicago affiliate of Integra Realty Resources, a network of independent U.S. commercial real estate valuation, counseling, and advisory firms. This deal, which includes Integra’s St. Louis headquarters and eight employees, did not disclose terms or deadlines as of this week.
This acquisition follows two other deals to buy Integra affiliates, the first one in Houston in late October, and the other one in Dallas earlier this month. The firm is hot on the “popular” real estate markets in the country at this time, including Texas cities, St. Louis, Minneapolis, and more.
The senior managing director of Integra in St. Louis, Ryan McDonald, this week assured current and future clients that the hard work and professionalism they bring to the table will endure the merger. “Our clients in the St. Louis region and nationally have always been pleased with our local market expertise, high quality work, and professionalism – and we plan to continue to impress them even more under the JLL banner,” said McDonald earlier this week.
The merger will bring in an additional 50 employees at JLL to merge with the current 8 in the St. Louis Integra office. JLL has had an excellent last few years, with a reported 2015 revenue of $6 billion and has more than 280 offices and now 70,000 employees worldwide currently. They have completed $138 billion in sales, acquisitions, and finance transactions in 2015. Even more impressive, as of September 30, 2016, their investment management business, LaSalle Investment Management, has $59.7 billion of real estate assets under the management.
What will JLL’s next move be looking forward? Time will tell.
Contributing Editor: Alexandra R. Fasulo
Picture courtesy of http://jllapsites.com/
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