Jones Lang LaSalle says it will enter into a definitive agreement to acquire certain assets of the Atlanta-based commercial real estate lending and servicing group of Primary Capital Advisors. The acquisition will allow Jones Lang LaSalle to operate as a Freddie Mac Program Plus Seller/Servicer and will include a $2 billion loan servicing platform that Jones Lang LaSalle plans to expand nationally through additional correspondent and servicing relationships.
The transaction is expected to close in the first quarter and is subject to customary closing conditions and approvals. Primary Capital Advisors will continue to operate its single-family residential mortgage business across 26 states as Primary Capital Mortgage.
‘We will use this new loan servicing platform to grow our overall business as we continue to expand our client services through a base of lender correspondences and servicing relationships,’ says Tom Melody, executive managing director of Jones Lang LaSalle's Capital Markets business.
SOURCE: Jones Lang LaSalle
