Jones Lang LaSalle Inc. (JLL), one of the largest commercial real estate firms in the world, bought South Africa’s Bradford McCormack & Associates (BMA) for an undisclosed amount.

Jones Lang is already present in several client facilities across the country. This is the first time that Jones Lang will open its doors in South Africa with the formation of Jones Lang LaSalle South Africa, its first structured office in the country. This deal leads to business growth opportunities across South Africa and its neighboring countries.

There is a growing trend among investors in South Africa to expand their property portfolio by going off-shore. Similarly Asian countries particularly India and China have also shown interest in direct investment in Sub-Saharan Africa. The South African leg will spur overseas investments into the rest of the continent.

Bradford McCormack & Associates (BMA), one of the leading corporate property service providers has developed its business and commitment towards premium client service. After the deal, the managing director of BMA will become the managing director of Jones Lang LaSalle South Africa. 

The domestic property market is a strong indicator of economic activity which is expected to increase the demand for space. With this transaction, Jones Lang will introduce a number of global offerings to meet this demand and position the organization to serve local and international companies within the market.

Jones Lang is a leading real estate firm that provides financial and investment management services to owners and clients worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $41 billion of assets under management. 

Jones Lang currently retains a Zacks #1 Rank, which translates into a short-term Strong Buy rating. We are also maintaining our long-term Outperform recommendation on the stock. One of its competitors, CB Richard Ellis Group, Inc. (CBG) currently retains a Zacks #2 Rank, which translates into a short-term Buy rating.

 
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