JLL has reached an agreement to acquire Raise Commercial Real Estate (Raise), a San Francisco-based real estate technology and brokerage firm with an office in Denver. This acquisition gives JLL and its clients access to Raise’s industry-leading leasing technology, while further enhancing JLL’s robust global platform. The transaction is expected to close shortly, subject to customary closing conditions.
Raise provides a cloud-based application designed to seamlessly help clients and their advisors integrate at every stage of the leasing lifecycle – from transaction and lease management to workplace and portfolio analytics. Built on proprietary technology, the Raise platform streamlines tasks while providing a market-leading digital experience. This technology will supplement JLL’s existing leasing technology, such as Blackbird, to continue helping brokers advise clients to make confident business decisions. This transaction reaffirms JLL’s commitment to accelerating its digital leasing capabilities to deliver better client outcomes.
“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 Andy Poppink, CEO of Markets Advisory, JLL. “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.”
“Acquiring Raise highlights our continued commitment to our technology strategy of delivering the best proptech innovation for the benefit of our clients,” said Mihir Shah, CEO, JLL Technologies. “Raise’s platform, combined with JLL’s technology suite and advanced AI capabilities, will be invaluable in accelerating our leasing tech journey.”
Founded in San Francisco in 2016, Raise was the first brokerage to create a digital real estate management platform and has grown rapidly to have offices across the United States. Co-founder and CEO of Raise, Justin Bedecarre, will report to Andy Poppink as head of Americas Leasing Innovation and will be responsible for leading Raise’s integration into JLL’s U.S. 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.”
In addition to the growth opportunities, Raise’s culture and values closely align to JLL’s – with a shared commitment towards teamwork, ethics and excellence. This is an exciting step in JLL’s vision to shape the future of real estate for a better world, leveraging valuable insights from the commercial real estate industry’s best intelligence and delivering data-driven solutions for JLL’s clients.
“Raise strengthens JLL’s platform with market-leading technology, seasoned brokers, and elite engineers to build innovative products for the full leasing lifecycle. This acquisition advances our services, offering a best-in-class experience to our clients,” said John Gates, CEO, Americas Markets, JLL.
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