REAL ESTATE INVESTMENT
Conning and PEARLMARK | November 11, 2022
Conning, a leading global investment management firm, and Pearlmark Real Estate, L.L.C. (“Pearlmark”), a specialist investment manager of commercial real estate debt and equity strategies, today announced the signing of a definitive agreement for Conning & Company to acquire a majority stake in Pearlmark. Pearlmark will continue to operate autonomously with its investment team led by Stephen Quazzo and Doug Lyons.
“Partnering with Pearlmark is the latest example of our strategy to add best-in-class capabilities to meet the evolving needs of our clients, Pearlmark has extensive real estate knowledge and significant experience successfully working with insurance companies and other institutional clients to help them achieve their real estate investment objectives.”
-Woody Bradford, Chief Executive Officer and Chair of the Board of Conning
We are excited to collaborate with Conning while continuing to work with our industry partners and clients in providing real estate capital solutions, Conning’s investment and client-oriented culture is a perfect fit for our business, and they are the ideal strategic partner to help us strengthen and grow our platform,said Stephen Quazzo, Chief Executive Officer and Co-Founder of Pearlmark.
Founded in 1996, Pearlmark is focused on U.S. mid-cap real estate investments in both equity and debt. This holistic perspective enhances Pearlmark’s approach to sourcing, underwriting, and managing its investments, which drives value for investors. Pearlmark is headquartered in Chicago with additional offices in Denver, Nashville, and New York City.
The transaction is expected to close by early 2023, subject to customary approvals and closing conditions. Morgan, Lewis & Bockius LLP served as a legal advisor to Conning. CenterCap Group, LLC served as financial advisor and Drane & Freyer Limited served as legal advisor to Pearlmark.
Conning is a leading investment management firm with more than $180 billion in global assets under management as of September 30, 2022. With a long history of serving the insurance industry, Conning supports institutional investors, including insurers and pension plans, with investment solutions, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America. As of September 30, 2022, represents the combined global assets under management for the affiliated firms under Conning Holdings Limited (CHL) and Cathay Securities Investment Trust Co., Ltd. (SITE). SITE is a separate entity under Cathay Financial Holdings Co., Ltd which is the ultimate controlling parent of all Conning entities. The CHL CEO sits on the Board of SITE and helps oversee the business.
Pearlmark is a Chicago-based investment firm that targets domestic core, value-add, and opportunistic real estate opportunities via commingled funds, separate accounts, and joint venture structures. Since 1996, Pearlmark has sponsored more than a dozen real estate equity and debt investment programs and completed 565 real estate equity and debt transactions on behalf of investors, representing $5.3 billion in equity capital commitments and over $13.8 billion in gross investment value. Pearlmark is dedicated to creating value for its investors and offers a range of investment opportunities nationwide across various property types (office, industrial, multifamily).
REAL ESTATE INVESTMENT
eXp Realty | September 19, 2022
eXp Realty®, the fastest-growing global real estate brokerage and the core subsidiary of eXp World Holdings, Inc., today announced plans to expand its real estate operations into Poland.
This announcement follows the successful launch of four new markets in 2022 including the Dominican Republic, Greece, New Zealand and Chile with Dubai expected to open soon. Upon launch of these new markets, eXp Realty will have a presence in 24 global markets, including its headquarters in the United States.
“Poland’s recent wave of real estate brokerage consolidation speaks to the attractiveness of its property sector for both foreign and domestic investments, With continued rapid growth and resilience in the real estate market, Poland provides eXp Realty an ideal opportunity to establish a strong foothold in the Central and Eastern European region.”
-Michael Valdes, Chief Growth Officer
eXp Realty’s brokerage operations in Poland will be led by Dorota Chomuntowska who joins the company with more than 11 years of real estate broker experience in Poland and other international markets. eXp has pioneered a new wave of quality and value for the real estate industry, I am honored to lead this expansion in Poland and look forward to introducing eXp Realty to agents across the country,says Chomuntowska.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises. eXp Realty is the fastest-growing real estate company in the world with more than 84,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand and Chile and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.
REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
JLL | November 22, 2022
JLL Technologies (JLLT), the technology division of JLL, today announced the launch of the Strategic Technology Program, which provides assessment, strategic planning, goal setting and performance measurement services for real estate technologies.
The launch of the program is in response to increasing demand for technology solutions to help commercial real estate (CRE) managers adhere to sustainable business objectives. These services are particularly relevant now as businesses implement long-term hybrid work models and ambitious sustainability targets stemming from the pandemic.
According to JLL research, 44% of large and mid-size organizations rely on external partners and service firms to accelerate their real estate technology implementation. Among JLL's enterprise clients, demand for technology management services has increased by over 50% year-over-year. As demand has increased, JLL has invested in its technology services.
The Strategic Technology Program helps real estate leaders better manage and operate their real estate technology for optimal outcomes. Real estate leaders can use the program's technology assessment, management and measurement offerings to align their technology portfolio to their building systems and data, sustainability, and facility management objectives.
The offering helps companies in the following areas:
Building – Tools that tune buildings and workspaces to drive for optimal performance, inform sustainability objectives, and enable real estate services teams to interact with building and enterprise systems.
Workplace – Enterprise technology solutions that help maximize employee efficiency and enhance their workday experience.
Sustainability – Platforms that measure and improve energy use, water use and waste to help companies reach their net zero carbon goals.
Data & Analytics – Governance, integration, reporting and modeling that leverage data and analytics platforms to achieve financial, operational and experiential breakthroughs that power insight-driven real estate decision.
"More and more, organizations are coming to us to help them demystify the ever-expanding and increasingly complex real estate technology landscape, and ultimately use that technology to help them navigate the changing world of the workplace, Hybrid work requires technology to be successful. This offering is a great example of how we combine expertise across technology and technology services to enable our customers to select, deploy and adopt technology and accelerate their return on investment."
-Sharad Rastogi, president, JLLT
JLLT houses decades of talent from all corners of CRE – developers, technologists, brokers and more. Together with other business lines in JLL, it delivers a comprehensive portfolio of purpose-built software platforms, apps, hardware and technology services. It also offers innovations from venture-backed companies. JLLT's objective is to meet and exceed the industry's demands for transactional, operational, experiential and data-driven excellence.
JLLT is our strategic real estate technology partner, They are an extension of our internal team and a trusted delivery and thought partner. They help us drive innovation, transformation, and adoption through an actionable and measurable technology roadmap and tightly aligned business outcomes, both of which are supported by efficiently utilized people resources and technology resources,said Kathy Jones, Associate Vice President for Facilities Engineering and Planning, Rice University.
JLLT is recognized as a leading Workplace Systems Integrator by Verdantix Research and has helped thousands of clients deploy and manage technology in more than 130 countries globally, representing over 250,000 properties and more than 14 billion square feet of space.
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 $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.