Jones Lang LaSalle draws down $940 million for HFF acquisition

By Sarah Lizee

Olympia, Wash., July 1 – Jones Lang LaSalle Inc. borrowed about $940 million under its second amended and restated multicurrency credit agreement dated as of June 21, 2016 to help finance a portion of the cash component of its acquisition of HFF, Inc., according to an 8-K filing with the Securities and Exchange Commission.

The company also used cash reserves for the purchase.

The purchase price for the acquisition was about $1.8 billion, consisting of a combination of cash and JLL stock.

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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