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Case Study

Global insurance company adopts more strategic mindset to real estate portfolio

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​A leading global insurance company was eager to adopt a more strategic mindset to their real estate portfolio: They were aiming to grow operating earnings by reducing complexity and operational costs while extracting additional profits from their businesses and investments. Real estate needed to be aligned with that objective.

The corporate real estate team wanted to elevate their status within the company and prompt internal partners to seek them out for strategic decision-making, instead of to simply execute one-off transactions.

The company’s real estate services provider was not providing them with the innovative approach that they craved. The three prime components in the scope of the work they sought from a new partner were transactions, portfolio strategy and lease administration, along with account management on a smaller scale.  

This scope of work aligned in perfect lockstep with the capabilities of PortfolioCommand, JLL’s service that uses a dedicated portfolio strategist and real-time scenario planning to analyze and make portfolio decisions that reduce vacancies and cut costs.

The JLL promise of optimizing the company’s portfolio through sophisticated, up-to-the-minute analysis struck a welcome chord with the client, in addition to viewing their real estate portfolio as an interconnected, ongoing enterprise and not just as a loose affiliation of separate and distinct locations.

The client’s corporate real estate team realized they could use PortfolioCommand to raise their profile within the company by serving as valuable, strategic partners ready to strengthen the overall business function. The company selected JLL for the contract, which started as a three-year master services agreement, but evolved into a five-year deal.

The portfolio strategy portion of the contract dictated that JLL analyze the client’s portfolio on an ongoing basis, including delivering strategic plans for their top 200 to 250 locations. Each quarter, JLL’s PortfolioCommand team will develop a minimum of 25 strategic plans, while continually keeping an eye open for other strategic opportunities within the portfolio.

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