JLL to acquire Peloton Commercial Real Estate
Acquisition furthers commitment to growing Agency Leasing and Property Management in Texas
DALLAS, Sept. 19, 2019 – JLL (NYSE: JLL) announced today that it has agreed to acquire Peloton Commercial Real Estate, a market-leading leasing and property management firm based in Texas. The acquisition of the Dallas and Houston offices accelerates the growth of JLL’s Agency Leasing and Property Management businesses and brings a wealth of experienced professionals to help serve clients. More than 130 Peloton professionals will join JLL. The acquisition is scheduled to close within the next few weeks, subject to customary closing conditions.
Peloton Co-Founding Partners Joel Pustmueller and T.D. Briggs will join JLL’s Jeff Eckert in leading the integration of the teams and driving growth across the region. Pustmueller and Briggs will focus on Dallas–Ft Worth and Houston, and Eckert will focus on Austin and San Antonio in addition to Dallas–Ft Worth.
Peloton Property Management Partner John Myers will assume regional leadership of Property Management for Dallas – Ft Worth. Pustmueller, Briggs and Myers will report to David Carroll, JLL’s Market Director for the South-Central Region.
“This is a momentous step in our journey to become a market-leading player in Texas,” said Carroll. “With the exceptional growth we have seen in those markets, Peloton’s position as a leading provider of leasing and property management services will greatly enhance our business capabilities and breadth of services. Just as importantly, we look forward to working with a team of professionals that share JLL’s strong commitment to collaboration and culture.”
“Like JLL, Peloton has a history and culture of providing energetic, client-focused real estate solutions,” said Pustmueller. “We have always respected our JLL counterparts and view this as a unique opportunity to combine our teams in order to serve our clients at an even higher level.”
Founded by Briggs and Pustmueller in 2002, Peloton has grown into a multi-faceted firm that manages or leases more than 25 million square feet on behalf of clients.
JLL’s more than 400 Agency Leasing professionals in the U.S. provide leasing services for some of the world’s largest companies across a portfolio of more than 3,200 buildings totaling 550 million square feet. In 2018 alone, JLL completed more than 4,300 transactions totaling $16.3 billion dollars in lease value.
JLL’s 2,100 Property Management experts in the U.S. provide comprehensive real estate services in more than 1,700 buildings totaling more than 365 million square feet. For more news, videos and research resources on JLL, please visit the firm’s newsroom.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com