Jones Lang LaSalle to use credit facility borrowings for HFF buy

By Sarah Lizee

Olympia, Wash., March 19 – Jones Lang LaSalle Inc. intends to use a combination of borrowings under its existing syndicated credit facility and cash reserves to fund its acquisition of HFF, Inc. for about $2 billion in cash and stocks, according to a press release.

The transaction is expected to close in the third quarter of 2019, subject to HFF shareholder approval and customary closing conditions, including regulatory review.

The transaction is not contingent on receipt of financing.

Jones Lang LaSalle is a Chicago-based provider of integrated real estate and investment management services. HFF is a Pittsburgh-based provider of capital markets and brokerage services to owners of commercial real estate.

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