Commercial/Multifamily Briefs from JLL, Freddie Mac

JLL Acquires Proptech Company Skyline AI

JLL, Chicago, agreed to acquire Skyline AI, a leading artificial intelligence technology company that uses proprietary machine learning models to gain a competitive advantage in originating and analyzing commercial real estate opportunities.

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

JLL will 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 was founded in 2017 by serial technology entrepreneurs Guy Zipori, Amir Leitersdorf, Iri Amirav and Or Hiltch, who have a 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.

J.P. Morgan advised Skyline AI in this transaction.

Freddie Mac Prices $859 Million Multifamily K-Deal

Freddie Mac, McLean, Va., priced a new offering of Structured Pass-Through K Certificates that includes a class of floating-rate bonds indexed to the Secured Overnight Financing Rate. The $859 million in K-F118 Certificates should settle on or about August 19. The K-F118 Certificates are backed by floating-rate multifamily mortgages with seven-year terms.

Morgan Stanley & Co. LLC and BofA Securities Inc. served as Co-Lead Managers and Joint Bookrunners. CastleOak Securities L.P., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Oppenheimer & Co. Inc. managed the process.