JLL mulling future of debt team amid
HFF merger

Merger could result in departures

Jun.June 12, 2019 08:45 PM

Aaron Appel (Credit: Catherine Gibbons)

JLL is figuring out the makeup of its debt team amid the company’s acquisition of HFF, multiple sources told The Real Deal.

The brokerage held a meeting Wednesday to discuss how the two debt platforms will integrate in the wake of JLL’s $2 billion acquisition of Dallas-based brokerage HFF, a deal the two companies agreed to in March.

The shakeup could result in the exit of Aaron Appel, who as the head of JLL’s debt-brokerage arm oversees a team that in 2017 handled more than $1.7 billion worth of mortgages, sources told TRD.

Appel, who joined JLL in 2014, denied rumors circulating Wednesday that he had been fired.

HFF is a significantly bigger player in the commercial-mortgage brokerage game. The company advised on $61 billion worth of commercial loans nationwide in 2017, according to data from the Mortgage Bankers’ Association. That’s more than double the $24.1 billion JLL did during that same time.

Owing to HFF’s dominance in the sector, JLL agreed to keep the brokerage’s debt-team leadership in place as the two companies merge. That means Appel would be working under HFF’s leadership team. While widely regarded as a talented broker, Appel has a reputation for being difficult to work with, sources said.

Correction: Citing multiple sources, a previous version of this article reported that JLL had fired the head of its debt brokerage team Wednesday. Representatives for JLL denied this after publication. 

Related Articles

Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Infinity Real Estate's Steve Kassin and 1715 East 13th Street (Credit: Infinity Real Estate)

South Brooklyn mixed-use shopping portfolio trades for $165M

LA — not Manhattan — topped US investment sales in 2019

LA — not Manhattan — topped US investment sales in 2019

GIC CEO Lim Chow Kiat with Industry City (Credit: Industry City, GIC)

Singapore sovereign wealth fund buys stake in Industry City

JLL President and CEO Christian Ulbrich & JLL Global Chief Financial Officer Stephanie Plaines (Credit: iStock, JLL)

JLL still riding revenue wave after HFF acquisition

229 West 28th Street with Rodgers & Hammerstein (Credit: Getty Images, 229nyc, Rumi)

Lexin Capital puts Midtown South office building up for sale

Robert De Niro and a rendering of Wildflower Studios (Credit: Getty Images and BIG)

Robert De Niro’s Wildflower Studios closes on $72M Astoria site

Clockwise from left: 273 Church Street, 100 Livingston Street, 1135 Boynton Avenue and 1600 Kings Highway with Jeff Sutton (Credit: Google Maps)

Jeff Sutton deal in Brooklyn leads mid-market investment sales