Broker JLL is entering the CEE residential market with the acquisition of Polish housing advisory firm Reas for an undisclosed amount.
Following the deal, the entire Reas team will continue its activities within the structures of JLL in Poland, under the brand name Reas | JLL Residential Advisory.
The founders of REAS will take up senior positions in JLL in Poland: Kazimierz Kirejczyk will act as vice president of the board at JLL Poland, while Pawel Sztejter will serve as the executive director responsible for managing the Reas team and the JLL Living Services.
In the last five years alone, Reas has advised on more than 2 600 projects for 253 clients including residential developers, banks, investment funds, construction firms, and local government authorities.
'Working closely with Reas will allow JLL to have competence in all areas of the real estate market, in which the residential segment plays a key role. Recently, Poland's residential sector has seen the development of commercial opportunities, including apartments for rent and dorms, which have begun to attract the interest of institutional capital. JLL’s decision to expand its expertise in this area is in response to market trends and the business needs of our clients,' commented Tomasz Trzóslo, managing director of JLL Poland.
He added: 'We recognize the strong synergy between our commercial know-how and the consultancy practices of Reas. Reas offers an excellent research and analysis department, developer consultancy of the utmost quality, professional valuation as well as some of the most reputable experts in transactional consultancy on the residential market. As a result, we will expand JLL’s portfolio with the highest quality of services available on the residential market.'
