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Real Estate Giant JLL Acquires Cresa Portland
Dated: November 12 2014
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 Turner, Matt 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."
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....
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