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London & Dublin

JLL expands Residential services to Ireland with acquisition of Guardian Property Asset Management


JLL (NYSE:JLL) today announced the acquisition of Guardian Property Asset Management, the specialist Dublin-based residential agency.  The acquisition further expands JLL's market-leading service offering in Ireland and continues the broader international expansion of its residential real estate services.  It is the latest example of the disciplined acquisition strategy that, so far this year, has seen JLL announce or close 16 margin-accretive transactions with a combined value of more than €380m (US $420m).

John Moran, Managing Director of JLL Ireland, said: "JLL's leading position in the commercial market in Ireland has grown rapidly over the past 50 years. This combination with Guardian Property Asset Management and expansion into the residential sector is therefore a logical next step for us and completes our 360 degree service offering.  With a similar focus on excellent service and a client-centric approach we can move forward in the market as the real estate service provider of choice across the commercial and residential markets."

Guy Grainger, JLL's EMEA Management Board sponsor for Residential Services, said: "We have seen exciting growth in our Residential business across the world's major hub cities in recent years, driven by our ability to link international investment demand and supply, and a particularly vibrant market in central London.  The close affinities between the real estate markets in the UK and Ireland make Dublin a natural next step for us in further expanding our Residential capabilities.  We have been hugely impressed by the Guardian team and their growth strategy which neatly complements and supports our own continued growth plans."

Andrew Frost, Lead Director for UK Residential, added: "This is an exciting next step in building out JLL's Residential platform across Europe. John Moran and I have spent a lot of time recently with the Guardian team and we share their vision for a comprehensive high quality residential service capability in Ireland, built on excellent tailored advice and service and market insight."

Since being founded by Conor O'Gallagher and Colm Byrne in 2009, Guardian has established a proven track record, based on the comprehensive market knowledge and extensive combined experience of its ten-person team.  Guardian has transacted over €500m in the Dublin market over the last 12 months.

Conor O'Gallagher, Managing Director of Guardian Property Asset Management, said: "We have long admired and respected the way JLL conducts business and the reputation of the brand as a leader in commercial property which we are excited to now be a part of. JLL has the right culture, service mix and an outstanding platform as a national and global brand. We are delighted to become a part of JLL and are truly excited by what we can now do together in the service of our clients."

The acquisition takes immediate effect, with the Guardian team relocating into the JLL Dublin office later this month and a phased rebrand being completed by early 2016.​