JLL and iO Partners announced that JLL will transfer its existing Leasing, Capital Markets, Valuation Advisory, Consulting and Project Management delivery businesses to iO Partners in the Czech Republic, Hungary, Romania and Slovakia.
The two companies have formed a preferred partnership enabling them to service clients in the Czech Republic, Hungary, Romania and Slovakia. The agreement will give iO Partners a strong presence in these four countries with experienced employees, efficient systems and processes, and a strong ongoing partnership with JLL. The existing leadership teams will continue to lead the business in the respective markets.
Michael Stanton, a US-based real estate private equity fund manager and Founder of iO Partners, said: “This partnership allows iO Partners to enter a strategic growth market, continuing to build on JLL’s leading capabilities in the region over the last 20 years. We are thrilled to be able to combine a strong, established international team with the agility of a smaller company well positioned to provide outstanding service to clients in the Czech Republic, Hungary, Romania and Slovakia.”
He added: “Together with the current country leaders, who will become partners in iO Partners, we will make the transition seamless for existing clients. The team has a tremendous base of business with solid plans for further expansion of both its product offering and reach.”
Andy Poppink, EMEA Markets CEO at JLL, said: “This model aligns with JLL’s strategy of maintaining best-in-class client service while increasing its focus on scaling opportunities in specific markets.
“I’m confident this preferred partnership with iO Partners gives our people and clients across the Czech Republic, Hungary, Romania and Slovakia the ideal structure for future success. It will allow JLL and iO Partners to offer top-quality services to our clients and provide flexible solutions for commercial real estate requirements in those four markets. We look forward to working with iO Partners to ensure a smooth transition for our people and to further develop our client roster together in the region.”
JLL will retain its Workplace Management business, offering integrated facilities management services for its accounts.
The partnership is expected to become effective by the beginning of June 2023 with the integration taking place over the coming months.