News release

New Jersey Capital Markets promotes Simonelli and Oliver

The pair, who are now Managing Directors within JLL Capital Markets, are focused on investment sales advisory in the Tri-State region

February 17, 2021

MORRISTOWN, N.J., Feb. 17, 2021 – JLL Capital Markets announced today that Steve Simonelli and Michael Oliver have been promoted to Managing Directors within the New Jersey office.

Simonelli and Oliver joined JLL as part of the HFF acquisition in 2019 and have more than 27 years of combined commercial real estate experience and a combined $11 billion of completed transactions under their belt. 

Simonelli specializes in investment sales advisory with a particular focus on multi-housing, office, retail and land transactions. He has been involved in such notable transactions, including the $283.5 million recapitalization of Rosemont at Brookhaven in Bellport, N.Y.; the $259.3 million sale of Halstead New Rochelle in New Rochelle, N.Y., the $218 million sale of a multi-housing portfolio in Clifton and Somerset, N.J.; and the $176.5 million sale of Hudson Park in Yonkers, N.Y. Simonelli is an active member of National Association of Industrial and Office Properties (NAIOP), International Council of Shopping Centers (ICSC) and New Jersey Apartment Association (NJAA). He holds a bachelor’s degree from Villanova University.

Oliver also specializes in investment sales advisory transactions with more of a focus on multi-housing, land, office and retail transactions. His experience includes notable recent deals, including the $409 million sale of Liberty Towers and $263.8 million sale of Soho Lofts in Jersey City, N.J.; and the $110 million sale of Avalon Somerset in Somerset, N.J. An active member of NAIOP and NJAA, Oliver holds a Bachelor of Arts degree from Colgate University and a Master’s in Real Estate from New York University.

“Steve and Michael are both outstanding investment sales specialists,” said Senior Managing Director Jose Cruz, who is co-head of the New Jersey Capital markets office. “I’ve had the honor of seeing them grow both as people and professionals over the last decade we have worked together, and I look forward to seeing their continued success in serving our clients in New Jersey and the entire Tri-State area.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit