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JLL Buys Sage Cap, A Company That “Never Has to Pitch”

CHEVY CHASE, MD--Sage Capital handled the price-setting sale of America's Square and the more recent capitalization of The Boro, John Duffy tells GlobeSt.com.

By Erika Morphy | erikamorphy | | Updated on July 05, 2016
Steve Collins, head of JLL Capital Advisors Steve Collins, head of JLL Capital Advisors

CHEVY CHASE, MD-JLL has acquired Sage Capital Advisors, an investment sales, equity and debt advisory firm formed in 2012 by three former HFF brokers, John Duffy, Robert Donhauser and William Asbill. Transaction details were not released but the acquisition followed a structure used in about 95% of JLL acquisitions, Steve Collins, head of JLL Capital Advisors told GlobeSt.com: the partners received a cash payout and a future earn out based on the group’s performance.

The company, which specializes in large-scale, mixed-use projects, has completed some $21.5 billion in transactions. Its expertise fills a gap in JLL’s Capital Markets platform both in the DC area as well as nationally, Collins said. For example, he noted that JLL and Sage have never competed for the same deal.

Two noteworthy transactions by Sage include Dweck Properties’ sale of America’s Square for $1,105 per square foot, or $510 million and more recently, the financing for The Boro  in Tysons.

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