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May 31, 2024
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This is incomprehensibly wrong.
Think I got out at the right time.
-Former HFF Employee
I bet a lot of the senior folks are pretty jazzed considering they've bee sitting on/handcuffed to that stock for a while... will be a massive liquidity event for a lot of the senior folks there who helped grow that platform.
This is going to be a dynamic that plays out market by market and team by team; really hard to deal in absolutes and generalities with something like this. For example HFF's Austin MF team will be fine (JLL's team there is garbage) and their Atlanta office team will be fine, but maybe HFF's multifamily teams in DC or Atlanta should be a little concerned or maybe the teams join forces or whatever it could go a million ways and it will likely be handled person by person.
isn't that M&A 101? cut expenses while finding synergies top line.
Being a stand alone or full service shop has it's pros and cons.
Everyone talks about Eastdil but most of your wankers won't even get an interview from Eastdil.
Not sure why there is so much anti-JLL sentiment here. I think this is a fantastic combination of companies.
Excellent. My life plans have been derailed and I need to reassess my future career.
I bet cash heavy Berkadia starts scooping up HFF IS teams, they've been trying to build an IS business.
I'd be willing to bet there is a significant chance that Eastdil and Cushman merge. If they do CBRE, JLL, and C&W will be absolutely dominant.
This acquiaition makes no sense. JLL is buying HFF at a peak valuation late in the cycle and the value of the business is based purely on the people, many of which will leave — either to start their own shop or to join a competitor. HFF is already saturated with brokers in some markets (ie HFF dallas and houston already have plenty of brokers) and no respectable broker wants to deal with the bureaucracy and bullshit that would undoubtedly come with working with a shop that large.
If JLL really wanted to grow their capital markets platform, they should have just set aside $500mm to lure 50 or so top performing broker groups at $10mm a pop.
Great deal for hff though and I can understand why they agreed to sell. Big cash out for some of the people that own a lot of stock...
shut up. top brokers are on contracts for 5 to 10 years. understand the business before you speak. they just can't leave because the sun in shinning.
generally want happens in brokerage is junior guys pay a "bribe" to senior guys if they are on their team. after about 3 years, those junior guys jump to a bigger shop to start a new vertical so they are no longer paying a double promote.
NO ONE CAN COMPETE WITH EASTDIL.... they get perfect score SAT or GMAT candidates who are smart as fuck and are real estate consultants... you can't beat that shit and their pitch is just too fucking gangsta. reason they win deals right and left over $100M.