JLL buys proptech company Hank
Real estate adviser JLL has acquired Hank, a US proptech firm which optimises the management systems of commercial buildings.
Sacramento, California-based Hank’s AI-powered platform creates a ‘digital twin’ of a building in the cloud by plugging into its existing management system and subsequently learning how the asset operates. It can then model the effects of adjustments to make the building more efficient and healthy.
Successes for the platform include delivering 30% heating, ventilation and air conditioning savings for the a Petaluma office campus building and allowing the landlord of another office building to accommodate a call centre tenants with specific cooling requirements without installing a dedicated HVAC system.
Sharad Rastogi, president at JLL Technologies, says: “Hank’s cutting-edge technology presents a major opportunity to drive efficiencies for our clients today and best anticipate the needs of tomorrow. JLL’s acquisition of Hank represents a continued commitment to drive sustainability and embrace technology to shape the future of real estate for a better world.”
Hank was co-founded in 2016 by Zachary Denning and Jerremy Spillman. Denning will serve as JLL’s director of sustainability product.