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

The addition of 20 valuations professionals to JLL’s existing team of 10 creates an advisory powerhouse during a period of intensive pricing discovery. MVS’s core competency extends to multi-housing, 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.

MVS was founded in 2003 by Principal and Co-Founder Steven Schleider. Clients include major financial institutions, Fortune 500 corporations, REITs, commercial real estate developers, investors, insurance companies, law firms, City of New York and government agencies.

Executive Vice President Ross Friedman and the existing JLL NYC Tri-State team will join forces with MVS Executive Vice Presidents Peter Rastetter and David Lyon under the leadership of Steven Schleider.

As the top investment market globally over the last decade and a top-two market for cross-border investment over this time period, New York remains a key gateway city for national portfolios and global capital. As economic conditions, mobility patterns, consumer spending and tourism are improving in New York, the market is increasingly solidifying its position as a leading global hub for talent and resilient market for investment.

JLL’s 2,000 qualified valuation professionals are connected across more than 50 countries, sharing insights and real-time data to advise on changing market dynamics and trends before they happen. A global community of sector-based specialists, the team delivers tailored client solutions for your real estate and business asset interests, giving an accurate picture of value and risk across any opportunity.

U.S. property valuation and tax consulting services are performed by JLL Valuation & Advisory Services, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

It’s not easy finding workers today. And that’s especially true in the hospitality industry, where a new survey finds that nearly all hotels are struggling to find enough workers to clean their rooms, check-in guests and maintain their properties.

In a member survey by the American Hotel & Lodging Association, 97% of respondents said that they are experiencing a staffing shortage. A total of 49% of respondents said that they are severely understaffed.

The most common staffing need is houekeeping, with 58% of survey respondents pointing to it as their biggest challenge today.

The association says that respondents are offering incentives to increase staffing, with nearly 90% of respondents saying that they have increased wages and 71% offering greating flexibilty in the hours that employees must work.

An additional 43% of respondents say they have increased the benefits they offer as a way to attract more staffers.

These efforts are working … somewhat. The survey found that respondents during the last three months have hired an average of 23 new employees per property. But these same respondents said that they are also trying to fill an additional 12 positions on average. A total of 97% of respondents said they have been unable to fill open positions.

According to the lodging association, hotels need to fill more than 130,000 open positions across the United States.

The American Hotel & Lodging Association conducted its survey of more than 500 hoteliers from May 16 to 24 of 2022.

JLL Capital Markets announced today that it has closed the sale of an 18-property medical office portfolio totaling 762,780 square feet in Texas and Kansas. The properties are directly aligned with partnerships between Ardent Health Services, a leading healthcare provider, and two market-leading academic health systems, The University of Texas Health Science Center at Tyler and The University of Kansas Health System.

JLL marketed the properties on behalf of the seller, Ardent Health Services. The portfolio was acquired by a healthcare-focused real estate investment trust.

The medical office portfolio consists of:

Continental Medical Building, 631 SW Horne St., Topeka, Kansas
Mulvane Medical Plaza, 634 SW Mulvane St., Topeka, Kansas
UT Health East Texas Hope Center, 721 Clinic Dr., Tyler, Texas
Olympic Plaza Tower, 700 Olympic Plaza, Tyler, Texas
UT Health Rehabilitation Center, 701 Olympic Plaza, Tyler, Texas
East Lake Professional Building, 1100 E. Lake, Tyler, Texas
Lake Palestine, 18118 FM 344 W, Flint, Texas
Medical Plaza I, 117 Medical Circle, Athens, Texas
Medical Plaza II, 115 Medical Circle, Athens, Texas
Athens Cancer Institute, 1801 S. Palestine, Athens, Texas
Lakeland Medical Associates, 170 Municipal Dr., Gun Barrell City, Texas
UT Health Cedar Creek Lake, 100 Municipal Dr., Gun Barrell City, Texas
Jacksonville Medical Plaza, 203 Nacogdoches, Jacksonville, Texas
UT Health East Texas Rehabilitation Clinic – Jacksonville, 414 S. Main St., Jacksonville, Texas
UT Health East Texas Physicians Rusk, 1325 N. Dickinson Dr., Rusk, Texas
UT Health East Texas Rehabilitation Clinic – Mineola, 1616 N. Pacific St., Mineola, Texas
UT Health East Texas Olympic Center Pittsburg, 2801 US Hwy 271 N, Pittsburg, Texas

The properties are fully leased by affiliates of UT Health East Texas and The University of Kansas Health System St. Francis Campus with a wide range of specialty uses, including radiation oncology, cardiology, neurology, orthopedics, urology, OBGYN, imaging, emergency care, family medicine and inpatient rehabilitation. More than 90% of the portfolio is concentrated in on-campus locations with the balance of the properties strategically positioned to support outpatient strategies across the surrounding communities.

The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Directors Brian Bacharach and Mindy Berman and Vice President Vasili Davos.

JLL announced a global property partnership with Babylon, a world-leading company reengineering how people engage with their health at every step of the care continuum, focusing on brokerage as well as project and construction management services.

Founded in London, Babylon has tapped JLL to represent the company’s expansion as they continue to increase their presence across the United States. The company recently announced it will occupy 37,883 RSF at Rollingwood Center I in Austin’s Southwest submarket.

JLL’s John Childers and Austin Trees represented the tenant in the lease transaction.