Commercial brokerage firm acquisition will strengthen JLL"s capital markets teams
Holliday Fenoglio Fowler L.P. will fold considerable regional talent, sector expertise, especially in apartments and hotels, and listings that include the 42-story office tower at 100 N. Tampa St. into JLL if a $2 billion deal for the brokerage concludes later this year.
In Tampa, HFF’s office is led by Senior Managing Director and apartment expert Matt Mitchell. Senior Director Zach Nolan and Director Preston Reid also work out of the office, as does Daniel Peek, a senior managing director and head of the Dallas-based company’s hospitality practice.
Mitchell has brokered some of the most significant multifamily rental sales along the Gulf Coast over the past five years, including the $110.5 million deal for the Carlton Arms Apartments, in Bradenton, and the $122.5 million transaction of the West Park Village, in Tampa.
Peek, meanwhile, has negotiated some of the region’s most significant hospitality sales, including those of the Tampa Hilton, for $101 million; the Vinoy Renaissance Resort & Golf Club, for $180 million; and the LaPlaya Beach & Golf Resort, in Naples, for $182.3 million.
HFF’s Miami office, meanwhile, has also been integrally involved in deals for the Sarasota Quay land; a portfolio of office properties owned by Osprey N.A. in Sarasota and Tampa that sold for a combined $135 million; and the $239.5 million sale of The Mercato office and retail complex, in Naples.
In all, HFF maintains 26 offices nationwide and completed $100 billion worth of transactions last year, generating record revenue of $662 million.
Neither Jones Lang LaSalle nor HFF officials along the Gulf Coast would comment on the pending corporate marriage, which is slated to be completed in the third quarter of this year, but JLL’s global CEO says in a statement that the acquisition would allow it to meet a goal to double its capital markets business by 2025.