JLL mulling future of debt team amid
HFF merger

Merger could result in departures

National /
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

arrow_forward_ios
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

Here’s what the $10M-$30M NYC investment sales market looked like last week
48-00 Grand Avenue in Maspeth and Prologis CEO Hamid Moghadam (Google Maps; Prologis)

Prologis picks up Maspeth parcel for $51M

Prologis picks up Maspeth parcel for $51M
Clockwise from left: 205 Brook Avenue in the Bronx, 219 Jay Street in Brooklyn, 377 Johnson Avenue in Bushwick and 54-25 58th Street in Maspeth (Google Maps; JLL)

Mid-market investment sales record strong week

Mid-market investment sales record strong week
454 East 148th Street and 5252 Kings Highway (Google Maps; Compass)

Bulk co-op buy in the Bronx tops mid-market investment sales

Bulk co-op buy in the Bronx tops mid-market investment sales
554 Fort Washington Avenue (top) and 235 Gardner Avenue (Google Maps)

East Williamsburg warehouse fetches $28M

East Williamsburg warehouse fetches $28M
SL Green CEO Marc Holliday and 410 Tenth Avenue (Google Maps; SL Green)

SL Green’s Hudson Yards deal is breakthrough for Manhattan’s i-sales market

SL Green’s Hudson Yards deal is breakthrough for Manhattan’s i-sales market
45-16 83rd Street in Queens (Google Maps)

Elmhurst developer buys own condos for $28M

Elmhurst developer buys own condos for $28M
JLL CEO Christian Ulbrich (Getty)

JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman

JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...