JLL expands valuation and advisory services in Canada
Acquisition extends reach into the province of Québec
MONTRÉAL, January 25, 2018 – JLL announced today that it has completed a transaction to acquire the real estate valuation and advisory division of Raymond Chabot Grant Thornton.
For three decades, Raymond Chabot Grant Thornton, the largest accounting firm in Québec has offered market-leading real estate and advisory services to its Québec-based clientele. Adding to JLL's industry-leading team of investor experts, 16 professionals, including chartered appraisers, will now join JLL's Montréal office. This new addition marks another strategic acquisition, as the firm continues to expand its global valuation and advisory services to complement its investor services platform.
Frédéric Labrie will lead the Valuation and Advisory platform in Montréal with oversight from an executive committee comprised of Brett Miller, Benoît Egan and Donald Prévost. The group will be closely aligned with JLL Canada's existing valuation and advisory practice located in Toronto, and together both teams will help develop a national strategy. Sylvain Bernèche, a former, and now returning JLL broker, will join the Capital Markets Team in Montréal.
These four senior professionals collectively bring more than 100 years of experience to JLL with specialization in real estate portfolios, senior housing, market studies, special-use properties and litigation.
"This acquisition is in line with our strategic direction to continue developing our national service platform," said Brett Miller, CEO of JLL Canada. "These highly-respected market leaders joining our team will help JLL bring added value to our clients, while expanding our reach in the province of Québec and tapping into additional industries."
"We look forward to bringing our expertise to JLL's Valuation and Advisory Services. Our team brings deep experience in a range of different asset classes to serve JLL throughout Canada," said Frédéric Labrie.
This transaction includes a long-term strategic partnership between RCGT and JLL, with the signing of mutual service agreements. JLL benefits from RCGT's advisory services, while JLL becomes an important strategic partner to RCGT and its clients as a sophisticated real estate platform that will continue to deliver and enhance the quality of services clients in Québec have come to know and expect.
"Raymond Chabot Grant Thornton is proud to be part of this transaction and partnership with JLL Canada. It allows us to improve our capacity and commitment to respond to our clients' needs, both today and in the future. This also ensures the continued prosperity of the Division while our clients continue to benefit from enhanced professional services, technology and research," commented Emilio Imbriglio, President and CEO of Raymond Chabot Grant Thornton.
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 third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 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 ir.jll.com.
JLL's Valuation and Advisory Services platform 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. For further information, visit us.jll.com/valuation-advisory.
About Raymond Chabot Grant Thornton
Founded in 1948, Raymond Chabot Grant Thornton (rcgt.com) has become a Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, with more than 2,300 professionals including approximately 200 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, comprise more than 4,200 professionals and close to 140 offices across Canada to help Canadian organizations achieve their full growth potential, both locally and globally. Grant Thornton International Ltd's member and correspondent firms provide clients with the expertise of some 47,000 professionals in more than 130 countries.