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Builds upon previous acquisitions; expands real estate services throughout California
ORANGE COUNTY, Calif., August 7, 2017 – JLL (NYSE:JLL) today announced the acquisition of a Southern California affiliate of Integra Realty Resources, a leading network of independent U.S. commercial real estate valuation, counseling and advisory firms. Seven professionals will join JLL, expanding the firm's Valuation & Advisory Services in the U.S. to the West Coast.
This builds upon previous acquisitions of the Houston, Dallas and Chicago affiliates of IRR last year, and the hiring of 15 professionals in Florida.
"This is a significant milestone for the expansion of our Valuation & Advisory Services platform," said Michael Welch, JLL Head of Valuation & and Advisory Services, U.S. "With the addition of seven professionals in Southern California, we now offer coast-to-coast service to our clients. We continue to be committed to this expansion, and expect to grow our presence in several other key markets and regions."
Steve Calandra will lead the Valuation & Advisory Services platform in Southern California.
"Providing the best Valuation & Advisory Services for our clients is a true team effort," said Peter Belisle, Southwest Market Director for JLL. "Our Southern California offices have exceptional talent and these new additions will strengthen our roster. That's a win for JLL and our clients."
Added Calandra, "We look forward to bringing our expertise to JLL Valuation & Advisory Services. Our staff of appraisers offers experience in a broad range of property types and asset classes to serve JLL in Southern California and the Southwest."
Calandra brings more than 20 years of experience to JLL with expertise in valuation of fee simple, leased fee and leasehold interests, feasibility studies, highest and best use analysis, rental surveys, partial takings, conservation easements, re-use and redevelopment projects, eminent domain and condemnation, acquisition/disposition and portfolio assessments. He provides appraisal and consulting services to lenders, pension funds, REITs, law firms, government agencies, school districts and builders in all phases of development.
Formed in 2000, IRR-Orange County & Inland Empire's valuation and advisory experts provided consulting, valuation, feasibility and market study services for commercial office, industrial, retail, multifamily, hospitality and vacant land properties. They also specialized in niche product types including manufactured housing, self-storage and credit tenant net lease properties.
JLL's Valuation & Advisory Services is part of a global network comprised of experienced, licensed, qualified appraisers who use local insights and years of expertise to deliver accurate, reliable and prompt valuations. The U.S. Valuation & Advisory Services team completed over 11,000 assignments totaling more than $56 billion in asset value in 2016. For further information, visit us.jll.com/valuation-advisory.
About JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management has $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit http://www.jll.com/.
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