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Jones Lang LaSalle Incorporated (JLL) - $25 value - yours FREE >>
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JLL Boosts Flexibility with Increased Borrowing Capacity
Jones Lang LaSalle Incorporated (JLL - Free Report) has been able to enhance its financial profile with expansion in credit facility plus maturity extension. Specifically, the borrowing capacity has climbed to $2.75 billion from $2 billion while maturity has been extended to Jun 2021 from Feb 2020, with improved pricing.
The move is expected to boost JLL’s operating flexibility and aid in growth measures. It also reflects the lenders’ confidence in JLL’s fundamentals and business capability.
Going forward, JLL’s diversified product & services range, extensive knowledge of domestic and international real estate markets and strategic investments are expected to drive its bottom line. Further, its improved financial profile with attractive pricing would support its growth needs.
In fact, the company has been on an acquisition spree of late. Earlier this month, JLL disclosed a deal to acquire San Antonio-based real estate company, Travis Commercial. The move would expand its full-service platform in Texas. Also, the company is set to acquire leading Workplace Technology and Management Firm BRG.
Further, the company reached a deal to acquire Integral UK Ltd. – the UK-based company engaged in providing electrical and mechanical property maintenance services to more than 1,600 clients, spread over 60,000 locations. Such strategic acquisitions would help the company to gain strength to capitalize on an improving market environment.
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JLL currently carries a Zacks Rank #3 (Hold). Investors interested in the real estate industry can consider other stocks like HFF Inc. (HF - Free Report) , FirstService Corporation (FSV - Free Report) and Brookfield Asset Management Inc. (BAM - Free Report) . While FirstService and HFF sport a Zacks Rank #1 (Strong Buy), Brookfield Asset Management carries a Zacks Rank #2 (Buy).
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