JLL To Buy Peloton Commercial Real Estate
Commercial real estate giant JLL announced plans to purchase Peloton Commercial Real Estate Thursday. The merger will effectively pull Peloton's Dallas and Houston offices into JLL's agency leasing and property management business lines.
As part of the merger, more than 130 Peloton employees will be joining JLL.
The acquisition is expected to close in the next few weeks, with Peloton co-founding partners Joel Pustmueller and T.D. Briggs and JLL's Jeff Eckert leading the statewide integration efforts.
Pustmueller and Briggs will work directly with the Dallas-Fort Worth and Houston offices while Eckert will oversee Austin, San Antonio and Dallas-Fort Worth as the teams integrate.
Peloton Property Management partner John Myers will be named regional leader of property management for DFW.
“This is a momentous step in our journey to become a market-leading player in Texas,” said David Carroll, JLL market director for the South Central Region. “With the exceptional growth we have seen in those markets, Peloton’s position as a leading provider of leasing and property management services will greatly enhance our business capabilities and breadth of services. Just as importantly, we look forward to working with a team of professionals that share JLL’s strong commitment to collaboration and culture.”
JLL has a long history of growing via mergers and acquisitions, including closing the $2B acquisition of HFF July 1. One of its most notable acquisitions in Texas was bringing The Staubach Co., led by Dallas Cowboys elite quarterback Roger Staubach, into its fold in 2008.
Peloton is a leasing and property management firm that launched in 2002. It manages or leases more than 25M SF for clients.
