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Jones Lang LaSalle said in a statement released today that it has closed its $1.8 billion acquisition of HFF, a move aimed at expanding JLL’s ability to increase access to capital markets services and expertise for its clients.

HFF, regarded as one of the premier capital markets advisers in the industry, had more than $650 million in revenue in 2018 and approximately 1,050 employees with long-term client relationships, first-class skills and deep knowledge of U.S. as well as global markets. JLL officials said in the statement that its clients will now benefit from a global team of more than 3,700 capital markets professionals across 47 countries, with more extensive market coverage and greater deal flow.

With the acquisition complete, Mark Gibson, former CEO of HFF, joins JLL as CEO of Americas Capital Markets co-chair of its Global Capital Markets Board.

“We are delighted to bring together JLL and HFF to create one of the most strategic, connected and creative capital advisers in the world,” Christian Ulbrich, global CEO of JLL, said in a statement. “By combining the impressive capabilities, talent and expertise that distinguish both organizations, we will deliver exciting new growth opportunities and ensure we are best positioned to achieve ambitions for our clients and all our stakeholders.”

The acquisition was first announced and unanimously approved by each company’s board of directors in March and received approval from HFF’s shareholders Monday. HFF is now wholly owned by JLL and certain of its subsidiaries and will do business as JLL. HFF’s common stock, which previously traded under the ticker symbol “HF,” has ceased trading and was delisted from the New York Stock Exchange effective Monday. JLL funded the cash portion of the purchase price with a combination of cash reserves and its existing syndicated credit facility. The combination is expected to deliver significant run-rate synergies, estimated at approximately $60 million over two to three years.

“The response from our clients, brokers and shareholders has been overwhelmingly positive,” Gibson said in a statement. “Joining JLL marks an exciting new chapter in our history. It provides our team a tremendous opportunity to join a full-service real estate firm with a global presence and a client-centric, collaborative culture that closely aligns with our own. We look forward to working together to grow JLL’s Capital Markets business and bring expanded services to our clients.”