JLL Said to Weigh Sale of China Property Management Business (1)

Jones Lang LaSalle Inc. is weighing a plan to sell its property management business in China for at least $500 million, according to people familiar with the matter.

The Chicago-based real estate services provider is working with an adviser on a potential sale that has drawn interest from other property management firms and financial investors, said the people, who asked not to be identified because the matter is private. The firm’s real estate brokerage and valuation business in China are not part of the possible sale, they said.

Deliberations are ongoing and JLL could decide to keep its property management ...