JLL Acquires RCGT Real Estate And Advisory Division
JLL has acquired the real estate and advisory division of Québec accounting firm Raymond Chabot Grant Thornton.
The largest accounting firm in Québec, RCGT has offered real estate and advisory services for three decades. The acquisition by JLL will add 16 RCGT professionals, including chartered appraisers, to JLL's Montréal offices.
"This acquisition is in line with our strategic direction to continue developing our national service platform,” JLL Canada CEO Brett Miller said in a news release.
"These highly-respected market leaders joining our team will help JLL bring added value to our clients, while expanding our reach in the province of Québec and tapping into additional industries.”
Frédéric Labrie will lead the Valuation and Advisory platform in Montréal with oversight from an executive committee composed of Miller, Benoît Egan and Donald Prévost. The four senior professionals collectively bring more than 100 years of experience to JLL with specialization in real estate portfolios, senior housing, market studies, special-use properties and litigation.
The group will be closely aligned with JLL Canada’s existing valuation and advisory practice in Toronto.
“We look forward to bringing our expertise to JLL’s Valuation and Advisory Services. Our team brings deep experience in a range of different asset classes to serve JLL throughout Canada,” Labrie said in the statement.
The transaction includes mutual service agreements that call for a long-term strategic partnership between JLL and RCGT. JLL will benefit from RCGT's advisory services, while JLL will become a strategic partner to RCGT and its clients.
“Raymond Chabot Grant Thornton is proud to be part of this transaction and partnership with JLL Canada,” RCGT President and CEO Emilio Imbriglio said. “It allows us to improve our capacity and commitment to respond to our clients’ needs, both today and in the future.”