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Classified in: Science and technology, Business
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JLL launches commercial partnership and strategic investment in SFR proptech leader Roofstock

CHICAGO and OAKLAND, Calif., March 3, 2021 /PRNewswire/ -- JLL (NYSE: JLL) today announced a multi-faceted transaction with Roofstock, an innovative proptech and leading online marketplace in the dynamic single-family rental (SFR) sector. The deal includes a strategic minority investment in Roofstock by JLL and commercial partnership that enables JLL to expand its service offerings in the residential sector. As part of the deal, Roofstock also purchased Stessa, the leading asset management software-as-a-service solution for SFR investors, which had been owned by JLL's technology division, JLL Technologies (JLLT), since January 2018.

"The single-family rental asset class is seeing strong demand from our investor clients ? both private and increasingly institutional ? and this investment  will position our teams to offer unique insights and access to opportunities in this space," said Richard Bloxam, CEO, Capital Markets of JLL.

"We are excited by Roofstock's scalable, data-driven platform servicing both retail and enterprise SFR clients as well as the deeply accomplished and experienced team. We see a strategic investment coupled with a commercial partnership as the best approach to offer state-of-the-art services to our investors seeking SFR exposure," said Yishai Lerner, Co-CEO, JLLT.

The transaction is strategic for both parties. Through this commercial partnership, JLL can now immediately offer clients the ability to access the U.S. SFR market at scale, backed by a robust suite of services that deliver a near seamless transaction and portfolio management experience. The incorporation of Roofstock's "real estate investing cloud" into JLL's existing enterprise enables JLL's clients to invest in U.S. residential real estate at scale, speed and with precision. Roofstock will also gain access to JLL's global footprint to fuel its continued growth, creating a new pipeline of activity that benefits all users of its real estate marketplace.

"We are excited to work together with JLL to help service JLL's clients in the SFR space, and accelerate Roofstock's domestic growth and global expansion," said Gary Beasley, co-founder and CEO of Roofstock and 30-year real estate veteran. "We are also thrilled to welcome the talented Stessa team to Roofstock and are excited to integrate their asset management and accounting software into our retail product offerings. The relationship with JLL directly supports our efforts to make real estate investing more seamless and accessible."

Stessa is a natural addition to the Roofstock marketplace and a strong complement to the existing suite of services Roofstock offers investors. Roofstock will make Stessa available to the high volume of investors who transact through the proptech's platform each month. With more than 170,000 properties on the platform representing over $45 billion in assets, Stessa is fast becoming one of the most popular personal financial applications for rental property owners. Using Stessa, investors can automate income and expense tracking, maximize profits with visual dashboards and detailed reports, and save time with tax-ready financials.

"We are thrilled to join forces with Roofstock, which is leading the way in making the single-family rental asset class more accessible to investors," said Heath Silverman, co-founder and CEO, Stessa. "Stessa can leverage Roofstock's proprietary data to help investors make smarter, more informed decisions and seamlessly buy and sell properties through Roofstock's marketplace. Together, we will be able to offer comprehensive owner services saving investors both time and money throughout every stage of the real estate ownership lifecycle."

The acquisition by JLL in 2018 and subsequent incubation enabled Stessa to expand its platform and reach, becoming one of the leading solutions available to rental property owners.

About Roofstock
Roofstock is the leading marketplace for investing in the $4 trillion single-family rental home sector. The company provides extensive resources for investors to buy, own and sell real estate online, including data analytics, property management oversight and other tools. Roofstock's transparent, innovative marketplace empowers investors to own cash-flowing rental properties, diversify their investment portfolios and build long-term wealth through real estate. Founded in 2015, the company has facilitated more than $2 billion in transaction volume through its marketplace to date. Roofstock was named as one of Fast Company's Most Innovative Companies in 2020, and has earned a spot on the prestigious Forbes Fintech 50 for the past two years.

About JLL Technologies
JLL Technologies (JLLT) is a division of JLL, a world leader in real estate services, that helps organizations transform the way they acquire, operate, manage and experience space. JLLT is a first-of-its-kind team combining builders of high-growth tech companies and commercial real estate experts. Its comprehensive technology portfolio of purpose-built solutions and leading venture-backed companies exceed industry demands for better business intelligence, workplace experience and smart building platforms. Learn more at www.jllt.com.

About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Media Contacts
Gayle Kantro
+312 228 2795  

JLL Technologies
Laurel Cifala

Suresh Srinivasan



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