JLL’s Public Institutions Group has won a five-year, $88 million contract for real estate portfolio advisory services for the Air Force Civil Engineer Center’s privatized projects, continuing the portfolio advisory support the firm has provided to the Air Force since 2001.
Under the indefinite-delivery/indefinite-quantity contract, JLL will support housing privatization efforts, enhanced use leasing (EUL) transactions, value-based transactions, real estate and environmental issues related to BRAC, and other real estate transactions and privatized programs.
“We have had the honor of working with the Air Force to optimize its real estate assets, housing privatization and utilities privatization efforts across the U.S. for over 14 years,” said John Leineweber, managing director for JLL, who will oversee the Air Force Public Institutions team.
“Our team’s hands-on experience in all facets of public and private real estate finance, operations, construction and development will help us bring the best solutions to accomplish the Air Force’s goals of sound financial management, long-term viability, maximized consideration and reduced liability,” Leineweber said.
The Air Force’s portfolio of privatized assets currently includes more than 53,000 housing units and nine active EUL projects. JLL formerly was known as Jones Lang LaSalle.