HOUSTON-Jones Lang LaSalle has acquired privately owned Means Knaus Partners, a locally based property management company. The transaction effectively increases Chicago-based JLL's property management portfolio by approximately 16 million square feet, with assets located primarily in Chicago, Dallas, Denver, Houston, Los Angeles, Orlando and Tampa.
As part of the acquisition, MKP CEO Doug Knaus will join JLL as an international director, while MKP's COO, Robert Nowak, becomes a JLL managing director. MKP's approximately 100 employees will also join JLL.
“Our MKP colleagues bring deep expertise and strong client relationships to JLL, resulting in a powerful fit that will enhance the combined platform's strength in key markets,” says John Gates, president of Jones Lang LaSalle's national real estate services. “Both JLL and MKP have impressive legacies in property management, and we both operate with a vested ownership mentality that will bring greater value to our clients.”
According to Doug Knaus, MKP, which was founded in 1998 by himself and Steve Means, had been approached by other commercial real estate companies during the past several years. "What resonated with us was JLL's legacy of performance excellence, global platform, collaborative leadership team and commitment to client service," Knaus says. "It is this leading platform of services and extended capabilities that we can now provide our client base.”
Meanwhile, the acquisition boosts JLL's property management arm, helping it boost its market share in the sector. “The acquisition of MKP is highly strategic to the continued growth of our property management business,” says Dan Pufunt, president of property management for Jones Lang LaSalle. “As a combined organization, the synergies created by our complementary culture, values and people will add to the superior levels of service we deliver to our clients consistently.”
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