CHICAGO, December 15, 2022 -JLL announced today that it has expanded its strategic partnership with Manulife Investment Management to assume property management and building operations responsibility at 195 Canadian assets managed by Manulife Investment Management. The portfolio comprises office, industrial, multi-family and retail buildings totaling almost 30 million square feet in Alberta, British Columbia, New Brunswick, Nova Scotia, Ontario and Quebec.
"JLL has long been a property management partner to Manulife Investment Management in the United States, and we're thrilled to expand our relationship and partnership into Canada. We aim to drive operational efficiency using technology and best operating practices, and to align all property initiatives and capital expenditures with asset and portfolio strategies by bringing a deep bench of operator and management expertise," said Jay Koster, President, Americas Investor Services at JLL.
"Manulife Investment Management has been strengthening its asset management platform to scale for growth, and with this property management partnership with JLL, we gain access to an impressive depth and breadth of resources that will help us deliver for our clients," said Scott Gordon, Head of Real Estate Asset Management, North America, Manulife Investment Management.
In addition to achieving operational efficiencies, JLL and Manulife Investment Management will establish several virtual innovation labs at its assets to accelerate proptech initiatives and sustainability impact assessment. Manulife Investment Management will also adopt PRISM by Building Engines as its standard building operations and tenant experience platform and will engage in strategic pilots with JLL Technologies and its partners for other technology solutions. The partnership will also focus on implementing climate-positive initiatives with a commitment to steer the entire portfolio to achieve net-zero carbon performance by 2050. This will be done in partnership with JLL's Global Centre of Excellence for Sustainability in Real Estate located in Montreal.
"Through this partnership with JLL, our portfolio will benefit from expanded access to procurement, technology, and sustainability resources that will fuel the expansion of our business," said Marc Feliciano, Global Head of Real Estate, Private Markets, Manulife Investment Management. "By gaining deeper insights in these areas, we enhance our efficiency in staffing, operations, and capital expenditures, and we expand our capabilities to identify sustainable investment opportunities. This allows for focus and acceleration in our core competencies and the ability to drive growth in our investment strategies and meet the needs of our clients."
"Our Property Management platform has seen exponential growth in Canada, due to our people's drive to elevate the standard of best-in-class services for our clients and the industry," said Alan MacKenzie, CEO, JLL Canada. "Joining forces with Manulife Investment Management is a testament to our mutual determination to provide unmatched value to our clients and our people. Through this partnership, we will not only offer real estate services, but solutions and advancements to a more sustainable and brighter future."
JLL is a leading provider of property management services throughout Canada. JLL's 4,400 property management experts in Canada and the U.S. provide comprehensive real estate services in more than 4,000 buildings totaling more than 800 million square feet. JLL provides a collaborative culture, diverse expertise and unmatched global infrastructure to help clients achieve results for their real estate portfolio across the full property management spectrum.
Manulife Investment Management develops and manages commercial real estate around the globe as part of its comprehensive private markets' capabilities. As of June 30, 2022, it managed on behalf of clients over 63 million square feet of office, industrial, retail, and multifamily space strategically located in markets across Canada, the United Stated, and Asia Pacific. The group leverages its global platform and local expertise to provide market-leading solutions and deliver results for its investment clients.
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Jones Lang LaSalle Inc. published this content on 15 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2022 14:05:43 UTC.
