JLL acquisition boosts access to Building Engines integrated building operations platform

Global real estate and professional services firm JLL recently announced that it closed its acquisition of Building Engines, the building operations platform designed to transform how properties are run, provide exceptional experiences for operators and tenants, and improve net operating income (NOI) across successful commercial real estate (CRE) portfolios around the world.

The acquisition reflects JLL’s commitment to applying technology to solve real estate’s biggest challenges — in this case, the siloed ecosystem of property management technologies. Building Engines’ cloud platform Prism streamlines everything from work orders to maintenance scheduling and tenant engagement in one place — and helps workplaces prepare for a safe and successful post-Covid re-occupany.

Our vision is to unite the fragmented property management software ecosystem and make Building Engines the building operations system of record. With this acquisition, we see a major opportunity to bring the property management software ecosystem together in one easy-to-use, open platform for real estate investors.

Sharad Rastogi, president of JLL Technologies

Building Engines’ powerful operations platform Prism already serves more than 1,000 customers, managing 4 billion square feet of space across 35,000+ buildings, including many JLL customers, who will now benefit from tighter alignment between the two companies.

JLL also intends to leverage Building Engines’ open API infrastructure to integrate the platform more broadly with the greater real estate ecosystem, including the product portfolio developed by JLL Technologies (JLLT), its division that builds and invests in technology, and products it invests in through venture arm JLL Spark.

At Building Engines, our goal is to create an amazing experience in every building worldwide. So, joining JLLT, the leading technology team in commercial real estate, was a natural next step. By tapping into the scale of a global firm like JLL, we can accelerate expansion of our cloud platform that meets the complete needs of property managers and investors.

Building Engines CEO Tim Curran

Building Engines’ more than 150 employees have joined JLLT. CEO Tim Curran, who joined Building Engines as a board director in 2011 and was named CEO in 2017, serves as executive managing director, Building Engines, reporting to Rastogi. Building Engines will retain its name and continue to serve existing customers and real estate investors worldwide to help them maximize the value of their assets. Visit the platform’s Solutions webpages to see how it helps commercial office, retail, industrial, healthcare and stadium/venue facilities.

JLL, a global professional services firm that specializes in real estate and investment management, is a Fortune 500 company with operations in over 80 countries and a global workforce of more than 95,000. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.