Peloton Commercial Real Estate has operations in Dallas and Houston.

Two big North Texas real estate companies are joining forces — Peloton and JLL.(G.J. McCARTHY/Staff Photographer)

Two big North Texas real estate players are joining forces.

Dallas-based property firm Peloton Commercial Real Estate is being acquired by JLL, the Chicago-based international real estate services firm.

More than 130 professionals in Peloton’s Dallas and Houston offices will join JLL, which already has a huge presence in the area.

It’s JLL’s second recent major acquisition. It just completed a purchase of Holliday Fenoglio Fowler LP, the Dallas-based investment sales and finance firm.

JLL said its purchase of Peloton will accelerate the growth of the company’s leasing and property management businesses.

“This is a momentous step in our journey to become a market-leading player in Texas,” JLL’s regional director David Carroll said in a statement. “With the exceptional growth we have seen in those markets, Peloton’s position as a leading provider of leasing and property management services will greatly enhance our business capabilities and breadth of services.

“Just as importantly, we look forward to working with a team of professionals that share JLL’s strong commitment to collaboration and culture.”

JLL already has about 700 people in North Texas.

Terms of the sale were not disclosed, and the transaction is still subject to closing conditions.

Peloton’s founders, Joel Pustmueller and T.D. Briggs, will continue to focus on the D-FW and Houston property markets in their new roles at JLL.

Please follow and like us: