In sync with its disciplined acquisition strategy, Jones Lang LaSalle Incorporated JLL has acquired Berlin-based retail real estate asset management company ACREST. With this acquisition, JLL will be able to offer retail services and advices to its clients throughout Germany.
Notably, ACREST is a dynamic firm with 160 employees and manages over EUR 5.1 billion in client assets. This includes over 900 properties, covering leasable retail space of more than 5 million square meters. This acquisition is likely to unlock plenty of growth opportunities for JLL. As both companies function on similar kind of work ethics as well as ‘one stop shop’ philosophy, this is expected to entice clients looking for integrated retail services.
Lately, strategic acquisitions have been playing a pivotal role in enhancing JLL’s service offerings. Previously, the company had closed the acquisition of CIB, LLC, a leading provider of brokerage services and CIB Management, LLC, a popular commercial property manager.
Last month, the company closed the acquisition of cloud-based facility management solutions provider, Corrigo Incorporated. Before that, JLL had disclosed a deal to acquire Strategic Advisory Group (SAG) so as to improve its reach in the broader hospitality sector. Prior to the announcement of the SAG deal, the company had declared the buyout of tenant-focused real estate firm, Cresa South Florida.
During the first nine months of 2015, JLL has accomplished as many as 12 acquisitions across Australia, Canada, England, Germany, Japan, Poland, Sweden, Turkey and the U.S. (read more: JLL’s Acquisition Drive Continues). Going forward, we believe that such strategic acquisitions will help the company suitably capitalize on the improving market environment.
JLL currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the real estate space include Henderson Land Development Co. Ltd. HLDCY, CBRE Group Inc. CBG and RE/MAX Holdings, Inc. RMAX. All three stocks hold a Zacks Rank #2 (Buy).
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