JLL acquires PropTech Building Operations Company Hank – Commercial Observer

In the wake of the acquisition building operating platform Construction Engines for $ 300 million in November, JLL announced Thursday morning to have acquired Hank, a virtual engineering platform that applies machine learning and AI to manage HVAC programming and target energy and equipment performance inefficiencies.

Sacramento-based proptech will operate within JLL Technologies (JLLT), a division of JLL, the company said. A spokesperson for JLLT declined to say how much the company paid to acquire Hank.

“Our vision for the future of buildings is automated, powered by AI, intelligent and sustainable” Sharad rastogi, chairman of JLLT, said in a statement about the deal. “By joining JLL, Hank’s advanced technology presents a major opportunity to improve the efficiency of our customers today and to better anticipate the needs of tomorrow. “

Hank chief said the deal grants the platform access to the resources of one of the world’s largest commercial real estate services companies.

“We worked with [JLL] on a few apps for big customers in the last seven or eight months, ”said Zacharie Denning, CEO of Hank, who will be Director of Sustainability Products at JLLT. “We saw them as a technological leader in the field and it made perfect sense to strengthen our growth before [this] an. “Customers include office buildings and other commercial facilities, but not residential properties,” Denning said.

Zachary Denning. Photo: JLLT

Founded in 2016, Hank’s system applies machine learning and AI to many of the commercial real estate industry’s biggest operational challenges, including HVAC programming inconsistencies and inefficiencies in energy and equipment performance, according to the company proptech. Its cloud-based platform optimizes energy efficiency, air quality, maintenance costs and tenant comfort, with the goal of ultimately generating increased net operating income for real estate investors. .

Hank says its technology not only improves comfort and air quality in buildings, but also saves homeowners 15-30% in energy costs. It does this by controlling the production and use of energy; Reduce the volume of service calls by finding problems before tenants report them and by using software and algorithms that monitor and adjust conditions.

“The majority of the industry is currently looking to monitor apps that suggestively tell users what to do,” Denning said. “We use complete end-to-end control. Hank actually walks into the building and takes control of all the HVAC and lighting, and we’re even considering starting to explore other technologies that make up the building’s operations.

“So that then gives operators potential things that they can physically fix or fix in the building, making them much more efficient at their jobs. “

Hank will continue to serve its existing customers, and the company’s AI-based technology will now be available to JLL customers.

Philip Russo can be contacted at [email protected].

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