Real Estate Giant JLL Acquires Cresa Portland

Dated: November 12 2014

Views: 734

In a move that will unite a local power player in the commercial real estate scene with a firm with a more global reach, JLL has acquired Cresa Portland.

The deal, which is expected to close shortly, merges the two decades of Cresa's experience in tenant representation, relocation management, project management and other services with the broader global services of JLL.

"The opportunity to join JLL allows us to retain our exclusive corporate focus and engagement with our clients while providing them access to a broader suite of services," said Craig Reinhart, founder and managing principal of Cresa Portland. "We are fortunate to join a team that not only expands our offering but also brings us together with well-respected tenant representation professionals."
The acquisition will find Reinhart and 11 other employees from Cresa joining JLL, which has a staff of about 150 in Portland. Cresa will maintain its current office in the Pearl District and continue to offer the same level of client engagement it's become known for over the years.

Reinhart and Chris Elsenbach, another managing principal at Cresa, will work closely with Buzz Ellis, who leads JLL's Portland office. Additionally, Matt Newstrom will lead JLL's Portland Project and Development Services practice; Niall Travers will co-lead the local tenant representation group with JLL's Eric Haskins; and Eric TurnerMatt Ryer and Charlie Floberg will support local and global corporate clients.
Haskins said the acquisition is a natural move for JLL's growth strategy in the Northwest. It's also the kind of deal Haskins made for his own firm, Pacific Real Estate Partners, when he merged with JLL a few years ago.
"(Cresa) saw something very similar to what my company saw three years ago — the ability to tap into resources that we did not have in Portland," he said. "This is also a really strong cultural fit for us."
Source
Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

Latest Blog Posts

6 Home Upgrades Buyers Want In The COVID19 Era

If you imagined 2020 was the year you would finally list your house for sale, you may have hit the brakes on those plans when the coronavirus pandemic arrived.But now, we’re more than six months

Read More

Builder Confidence Breaks Previous 35 Year Record High

The National Association of Home Builders and Wells Fargo Housing Market Index rose two points to 85 in October – the highest score the series has ever recorded since its inception 35 years ago

Read More

7 Simple Renovations To Coronavirus Proof Your Home

As much as we all wish we could go back to a time when social distancing was a foreign concept and masks were just something you wore with a Halloween costume, it’s clear by now that COVID-19’

Read More

The Forbearance Crash Bros Spoke Too Soon

The health and economic crisis has made 2020 a horrific year for many Americans. Added to all that misery we had terrible fires in the West and hurricanes in the East.  From my perspective,

Read More