JLL Acquires NYC Valuation, Advisory Firm

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JLL has acquired Metropolitan Valuation Services, one of the New York metro area’s largest independent commercial property appraisal and real estate consulting firms.

Founded in 2003 by Principal & Co-Founder Steven Schleider, MVS has a client list that includes major financial institutions, Fortune 500 corporations, REITs, commercial real estate developers, investors, insurance companies, law firms, the City of New York and government agencies.

MVS’ core competencies encompass multihousing, CBD and suburban office buildings, industrial/warehouse and shopping/retail properties, land, property transfers and market rent studies and appraisals for HUD Section 8 properties.

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Following the transaction, 20 valuations professionals under Schleider and MVS Executive Vice Presidents Peter Rastetter and David Lyon will join the existing JLL NYC Tri-State valuation team of 10 under Executive Vice President Ross Friedman during what JLL calls “a period of intensive pricing discovery.”

A JLL spokesperson confirmed to Commercial Property Executive that financials on the deal are not being disclosed.

Proptech purchases

A couple of recent JLL acquisitions have been in the proptech arena. Last November, the company closed its approximately $300 million purchase of Building Engines, a building operations platform with more than 1,000 customers, many of which had already been JLL clients.

And in January of this year, JLL acquired Hank, a Sacramento, Calif.–based AI-powered virtual engineering platform that optimizes commercial buildings’ management systems.

Other recent moves by the company include the launching of a life science property management division and a non-profit aiming to mitigate climate change.