November 05, 2015 06:00 ET

JLL Expands Residential Services to Ireland With Acquisition of Guardian Property Asset Management

LONDON, UNITED KINGDOM and DUBLIN, IRELAND--(Marketwired - Nov 5, 2015) -  JLL (NYSE: JLL) today announced the acquisition of Guardian Property Asset Management, the specialist Dublin-based residential agency. The acquisition further expands JLL's market-leading service offering in Ireland and continues the broader international expansion of its residential real estate services. It is the latest example of the disciplined acquisition strategy that, so far this year, has seen JLL announce or close 16 margin-accretive transactions with a combined value of more than EUR 380m (US $420m).

John Moran, Managing Director of JLL Ireland, said: "JLL's leading position in the commercial market in Ireland has grown rapidly over the past 50 years. This combination with Guardian Property Asset Management and expansion into the residential sector is therefore a logical next step for us and completes our 360 degree service offering. With a similar focus on excellent service and a client-centric approach we can move forward in the market as the real estate service provider of choice across the commercial and residential markets."

Guy Grainger, JLL's EMEA Management Board sponsor for Residential Services, said: "We have seen exciting growth in our Residential business across the world's major hub cities in recent years, driven by our ability to link international investment demand and supply, and a particularly vibrant market in central London. The close affinities between the real estate markets in the UK and Ireland make Dublin a natural next step for us in further expanding our Residential capabilities. We have been hugely impressed by the Guardian team and their growth strategy which neatly complements and supports our own continued growth plans."

Andrew Frost, Lead Director for UK Residential, added: "This is an exciting next step in building out JLL's Residential platform across Europe. John Moran and I have spent a lot of time recently with the Guardian team and we share their vision for a comprehensive high quality residential service capability in Ireland, built on excellent tailored advice and service and market insight."

Since being founded by Conor O'Gallagher and Colm Byrne in 2009, Guardian has established a proven track record, based on the comprehensive market knowledge and extensive combined experience of its ten-person team. Guardian has transacted over EUR 500m in the Dublin market over the last 12 months.

Conor O'Gallagher, Managing Director of Guardian Property Asset Management, said: "We have long admired and respected the way JLL conducts business and the reputation of the brand as a leader in commercial property which we are excited to now be a part of. JLL has the right culture, service mix and an outstanding platform as a national and global brand. We are delighted to become a part of JLL and are truly excited by what we can now do together in the service of our clients."

The acquisition takes immediate effect, with the Guardian team relocating into the JLL Dublin office later this month and a phased rebrand being completed by early 2016.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

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