In order to bolster its corporate real estate services business in Sweden, Jones Lang LaSalle Incorporated (JLL - Free Report) , the Chicago, IL-based full-service real estate operations firm, has acquired Nextport, a tenant representation and relocation management service provider in Stockholm. This deal is expected to complement JLL’s already sturdy leadership position in the real estate services sector of Sweden.
In fact, this acquisition is in sync with JLL’s strategy to strengthen its business in EMEA (Europe, the Middle East and Africa) region. At the same time, the deal will provide Nextport an opportunity to access global markets and clients by joining forces with a top-class real estate service provider.
Through this transaction, Nextport’s 20-strong team will be relocated to the Stockholm office of JLL by Mar 2015. Erik Dellner, the CEO of Nextport, will head the Corporate Solutions team in Sweden.
Nextport is engaged in tenant representation work for Swedish companies, while JLL’s strength lies in tenant representation for international companies. The combined entity, empowered with Nextport’s local strength and JLL’s strong global reach, is projected to provide outstanding real estate services to clients, going forward.
Currently, JLL carries a Zacks Rank #3 (Hold).
Investors interested in the real estate sector may consider stocks like Reis, Inc. (REIS - Free Report) , Kennedy-Wilson Holdings, Inc. (KW - Free Report) and Landmark Infrastructure Partners LP (LMRK - Free Report) . While Reis sports a Zacks Rank #1 (Strong Buy), both Kennedy-Wilson Holdings and Landmark Infrastructure Partners hold a Zacks Rank #2 (Buy).