JLL announces acquisition of proptech company Skyline AI

Shanghai, 25 August 2021 – JLL (NYSE: JLL) recently announced that it has reached an agreement to acquire Skyline AI, a leading artificial intelligence (AI) technology. The transaction is expected to close shortly, following completion of customary closing conditions. Skyline AI was founded in 2017 by serial technology entrepreneurs Guy Zipori, Amir Leitersdorf, Iri Amirav and Or Hiltch, who have a proven track record of building, scaling and selling technology companies. A major player in the CRE market, Skyline AI was named one of the most innovative AI startups by the CB Insights Global AI 100 list. JLL global venture fund JLL Spark has been an investor in Skyline AI since 2018.

One of the largest challenges in CRE is the abundance of fragmented data. Skyline AI uses unique data sets, AI and Machine Learning (ML) algorithms to process data quickly and drive actionable insights for real estate experts.

“The acquisition of Skyline AI is a significant step for JLL as we look to provide the most strategic and creative advice to our clients,” said Richard Bloxam, CEO of Global Capital Markets, JLL. “When you combine the intelligence of the best advisors on the ground with a quantitative expert team and AI data analysis, you get insights that are beyond human and create a competitive edge for JLL and our clients.”

JLL will also incorporate Skyline AI technology and proprietary data into its products so JLL clients can better predict future property values, improve cost savings, identify promising investment opportunities and make critical business decisions, such as when to raise rent, renovate or sell. Skyline AI’s AI data analysis coupled with JLL’s industry expertise will aid faster decision-making and access to trends for JLL clients.

“This acquisition demonstrates the value and synergies of JLL Spark, as we invest in innovative proptech companies and leverage the resources of JLL to accelerate their growth,” said Yishai Lerner, co-CEO, JLL Technologies (JLLT), a business division of JLL dedicated to CRE technology. “Our teams consist of knowledgeable real estate experts and world-class technologists who successfully bring new AI offerings like Skyline AI into the fold and provide the best insights to our clients, accelerating JLL’s leadership in CRE technology.”

Skyline AI’s platform uses proprietary AI/ML models to process data from more than 300 data sources—the multifamily industry’s largest and most accurate dataset—and tracking 10,000 attributes such as owner information, property characteristics, demographics, historical transactions and debt for 400,000 multifamily properties across the U.S. Over time, Skyline AI’s platform identifies discrepancies and determines which information is most accurate to help investors maximize their investment and leasing opportunities.

John Qiang, Head of Strategy, JLLT China said, “While the initial focus of Skyline AI is in North America, the acquisition is an example of how JLLT hopes to enhance JLL's offering through emerging technology. Data and AI can help all stakeholders in commercial real estate transactions make better decisions. There is growing interest in commercial real estate in China, including increasing foreign interest and the launch of public REITs in June. We aim to provide our clients with technology-enabled solutions and services to support their decision-making process. As we integrate Skyline AI into the broader Capital Markets technology strategy and our vision for the evolution of CMQ (Capital Market Quants), JLL teams across the world will be able to benefit from this acquisition and the synergies it brings. We intend to bring the strategy to other regions once the integration is completed.”