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Brussels

JLL acquires AVM Partners to create Turkey’s clear retail real estate services leader

Managing more than one million square metres of shopping centre space for clients


Brussels, 29th July 2015JLL (NYSE:JLL) today announced the acquisition of AVM Partners, the leading Istanbul-based retail management and leasing business, creating the clear market leader for retail real estate services across Turkey, one of the world's most dynamic growth markets for retailers and investors.

Robert Bonwell, JLL's CEO EMEA Retail, said: "This is an exciting combination of two great businesses with a similar focus on excellent service and on working with our clients to create highly appealing digitally-enabled retail real estate destinations. There is a terrific fit between our two teams, with AVM Partners' market-leading shopping centre management capabilities an ideal match for JLL's global retailer and investor connections."

Avi Alkaş, Chairman & CEO of JLL Turkey, said: "We have long admired and respected the way AVM Partners has built its business across Turkey. We share a vision for the continued strong growth of retail real estate markets across the country and beyond in this part of Europe. We are delighted to be welcoming Aydın Yurdum, Tarkan Ander, Dora Şahintürk and their team into the JLL organisation and truly excited by what we can now do "Better Together" to service our clients."

Aydın Yurdum, Tarkan Ander and Dora Şahintürk, Managing Partners of AVM Partners and now members of the JLL Turkey Legal Executive Board, said: "We've been delighted with the strong and sustained success of AVM Partners as an independent provider, but we decided the logical next strategic growth step for AVM Partners was to find an international partner to help further enhance our client services and reach. JLL was always our strong preference, with the right culture, the right service mix and that outstanding platform and connections with retailers and investors around the world."

The acquisition takes immediate effect with AVM Partners beginning the process of rebranding as JLL from today, with the combined business operating from both the existing JLL and AVM Partners Istanbul offices.

Overall, JLL Turkey now employs more than 500 people and manages more than one million square metres of shopping centres and other retail real estate across the country. JLL also continues to provide a full range of real estate services for the office, logistics and industrial sectors as a fully integrated part of JLL's broader global real estate services platform.

Notes to Editors:

Attached is an image of Robert Bonwell, Avi Alkaş, Volkan Mueller (COO and CFO at JLL Turkey), Aydın Yurdum, Tarkan Ander and Dora Şahintürk at the contract signing in Istanbul.​