Jeffrey Davis Departs JLL for Eastdil Secured’s Hospitality Group
By Andrew Coen July 19, 2023 3:02 pm
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Jeffrey Davis, the longtime head of JLL (JLL)’s hotel investment sales platform, has departed for a similar role at Eastdil Secured, Commercial Observer has learned.
Davis, who was head of the U.S. hotels investment sales capital markets team at JLL for 18 years, will be joining Eastdil as a managing director, the brokerage announced Wednesday. He will help lead the firm’s global hospitality group focusing heavily on the Eastern U.S.
“Lodging continues to be a favored asset class globally, and we have seen a dramatic increase in capital allocations across the sector,” Louis Stervinou, managing director at Eastdil Secured and one of the firm’s global hospitality leaders, said in a statement. “This strategic hire has a multiplier effect that will only enhance our ability to service our clients in this unique and important sector of the commercial real estate markets.”
Davis will lead Eastdil’s East Coast hospitality practice alongside Scott Ellman, Alyssa Kidd and Ian Banger while also working closely with Stervinou, Patrick Deming, John Bourret and Giorgio Manenti. During his time at JLL, the firm completed more than $18 billion of hospitality and lodging-related sales, joint ventures, financings and mergers and acquisitions-related transactions globally, according to Eastdil.
At JLL, Davis was responsible for overseeing all full-service hotel investment sales in the Americas. He transacted and advised on more than $50 billion of transactions during his tenure there, including the $835 million sale of the Diplomat Beach Resort in Hollywood, Fla., in February that marked one of the biggest hospitality deals since the onset of the pandemic.
Prior to joining JLL in 2005, Davis was vice president of asset management and business development for Ian Schrager at Morgans Hotel Group. He also previously worked as an investment banker at Salomon Smith Barney.
An alum of Cornell University’s School of Hotel Administration, Davis also holds a master’s of business administration in real estate finance and strategic planning from the Anderson School at UCLA.
The move from JLL to Eastdil by Davis marks the latest in a string of brokerage veterans who have left for competitors this year. Adam Spies and Doug Harmon, who led investment sales at Cushman & Wakefield, departed for Newmark, while Colliers tapped Ken Manke from CBRE to lead its tenants services platform.
Representatives for JLL did not immediately return a request for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
