HFF (commercial real estate)

HFF, Inc.
Company typeJoint-stock company
IndustryCommercial real estate
Founded1998; 27 years ago (1998)
DefunctJuly 1, 2019; 5 years ago (2019-07-01)
FateAcquired by JLL
HeadquartersOne Victory Park, Dallas, Texas
RevenueIncrease $662 million (2018)
Decrease $95 million (2018)
Increase $116 million (2018)
Total assetsDecrease $858 million (2018)
Total equityIncrease $351 million (2018)
Number of employees
1,074 (2018)
Footnotes / references
[1]

HFF, Inc. was a provider of capital markets and brokerage services to owners of commercial real estate. In 2019, the company was acquired by JLL.

History

In 1974, John Fowler and Peter Goedecke founded Fowler, Goedecke & Company. In 1982, Holliday Fenoglio & Co was founded by Harold E. (Hal) Holliday and John Fenoglio.[2]

In 1994, Amresco acquired Holliday Fenoglio Dockerty & Gibson.[3] In 1998, Amresco acquired Fowler, Goedecke, Ellis & O'Connor Inc. and merged the two companies to form Holliday Fenoglio Fowler L.P.[4] In 1999, the company was sold to Lendlease for $228 million.[5][6]

In 2007, it became a public company via an initial public offering that raised $257 million.[7][8][9] In 2012, founders Holliday and Fenoglio went to work for CBRE.[10] In July 2019, JLL acquired the company for $1.8 billion.[11][12]

References

  1. ^ "HFF, Inc. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "HFF". The Real Deal.
  3. ^ "Amresco plans to buy commercial loan firm". American Banker. August 10, 1994.
  4. ^ "Amresco acquires Boston banking firm". American City Business Journals. January 28, 1998.
  5. ^ Cook, Lynn J. (December 26, 1999). "Holliday Fenoglio Fowler sold to U.S. Lend Lease subsidiary". American City Business Journals.
  6. ^ "Holliday Fenoglio Fowler Completes Management Buy-Out From Lend Lease Real Estate Investments, Inc" (Press release). Business Wire. June 18, 2003.
  7. ^ "HFF Announces Pricing of Initial Public Offering" (Press release). Business Wire. January 31, 2007.
  8. ^ "HFF IPO raises $257 mln, above range". Reuters. January 30, 2007.
  9. ^ "HFF, INC. (HF) IPO". NASDAQ.
  10. ^ "CBRE Hires HFF Founders to Head its Debt and Equity Finance Services in Southwest". National Real Estate Investor. March 26, 2012.
  11. ^ Ecker, Danny (19 March 2019). "JLL to buy brokerage HFF in $2 billion deal". Crain's Chicago Business. Retrieved April 26, 2019.
  12. ^ Carlock, Catherine (2 July 2019). "JLL closes $1.8B acquisition of rival HFF". Boston Business Journal. Retrieved July 11, 2019.