In sync with its growth strategy, Jones Lang LaSalle Incorporated JLL has acquired lease and debt restructuring firm Huntley, Mullaney, Spargo & Sullivan, Inc. (“HMS”). This acquisition will enable JLL to provide a wide range of services to help retailers contain costs and raise profits.
Retailers are heavily banking on specialists to bolster their portfolio through restructuring. Sacramento, CA-based HMS aims at enhancng the value of retailers by lowering financial pressure on their portfolios and increasing return on assets. HMS is renowned for assisting top retailers manage occupancy-related costs. In fact, HMS has restructured over $Array2 billion in lease and debt liabilities since Array993 for around 400 clients. Array0 HMS executives are anticipated to join JLL. Tom Mullaney, Dave Spargo and Bill Sullivan – the three founders of HMS – will now serve the role of Managing Directors, Retail Corporate Services, JLL.
Of late, JLL has been focused on improving its retail brokerage business in major markets. Last year, it acquired Wilson Retail Group and Shelter Bay Retail Group in a strategic move to this end.
Chicago-based JLL is a leading full-service real estate firm that provides corporate, financial and investment management services to corporations and other real estate owners, users, and investors worldwide. JLL reported fourth-quarter 20Array5 adjusted earnings of $4.53 per share, which missed the Zacks Consensus Estimate of $4.85. Adjusted earnings for fourth-quarter 20Array4 were $4.33 per share.
JLL currently has a Zacks Rank #3 (Hold). Investors interested in the real estate industry may consider stocks like FirstService Corporation FSV, Kennedy-Wilson Holdings, Inc. KW and Alexander & Baldwin, Inc. ALEX. While FirstService Corporation sports a Zacks Rank #Array (Strong Buy), both Kennedy-Wilson and Alexander & Baldwin hold a Zacks Rank #2 (Buy).
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