JLL (NYSE: JLL) announced its acquisition of Raise Commercial Real Estate, a technology-powered brokerage.
Founded in San Francisco in 2016, Raise was the first brokerage to create a digital real estate management platform. Raise’s co-founder and CEO Justin Bedecarre will report to Andy Poppink, JLL’s CEO of markets advisory, in the new role of head of Americas leasing innovation and will be responsible for leading Raise’s integration into JLL’s US leasing business.
“As we become a part of JLL we look forward to seamlessly integrating and expanding Raise’s reach, bringing our approach to JLL’s clients around the world,” said Bedecarre. “We are eager to pair Raise’s industry-leading technology with JLL’s exceptional culture, values and client-centric approach, to create an elevated broker and client relationship.”
The proprietary Raise cloud-based application designed to help clients and their advisors integrate at every stage of the leasing lifecycle – from transaction and lease management to workplace and portfolio analytics. JLL plans to use this technology to supplement its existing leasing technology, such as Blackbird, to continue helping brokers advise clients to make confident business decisions.
“The acquisition of Raise illustrates our global, tech-powered approach and commitment to delivering consistent excellence for our clients at all stages of the leasing cycle,” said Poppink. “By integrating Raise with our global and local market expertise we will offer an integrated platform solution to our clients so they can swiftly make informed decisions with confidence and ease.”
The financial terms of the acquisition were not disclosed.
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