JLL invests in Florida A&M University commercial real estate students with endowed fund

MIAMI, March 10, 2022 – As part of its ongoing efforts to increase diversity and inclusion in the commercial real estate industry, JLL announced that its Florida offices have created a permanently endowed fund with an initial investment of $25,000 to support the education of Florida A&M University (FAMU) students interested in pursuing careers in commercial real estate.

Located in Tallahassee, FAMU is the highest-ranked public historically black college and university (HBCU) in the country and the only public historically black university in Florida. FAMU recently celebrated its 134^th anniversary and offers courses that provide a strong foundation for a commercial real estate career. The endowment aims to make transaction roles more accessible to new, early-career women and underrepresented brokers deterred from the industry’s commission-oriented structure.

“One way our industry can improve workforce diversity is to break down financial barriers preventing someone from pursuing a commercial real estate career,” said Senior Vice President of Market Operations in Florida LaShawn Bates. “Our goal is to provide FAMU student with greater early career support as they get started in the industry, and we hope our relationship with FAMU, and this fund will be a recruiting source for us.”

Managed by FAMU’s Foundation, the JLL Commercial Real Estate Endowed Scholarship Fund is funded by JLL with the purpose to provide a scholarship to two students interested in commercial real estate. Recipients must be a full-time sophomore or junior from the Southeast with an interest in commercial real estate and maintain a minimum 3.0 GPA.

JLL has worked with FAMU for years through existing recruitment relationships and its partnership with Project Destined, a social impact platform that provides financial literacy, entrepreneurship and real estate training to diverse students. FAMU recently strengthened its real estate course offerings and, along with opportunities like internships, students are becoming more aware of the industry.

“We want to cultivate a love of commercial real estate with the best and brightest minds in Florida, so establishing this financial relationship with FAMU will allow that talent to find us and vice versa,” added Senior Managing Director Chris Drew, Co-Head of JLL’s Miami Capital Markets office. “As a result of the relationships that JLL formed with FAMU students during our work with Project Destined, we wanted a way to impact more students, and, when presented with the chance to expand our relationship with FAMU and its students, JLL was excited to do so.”

“Commercial real estate represents a significant area of untapped opportunity for our students. Their drive, creativity and passion to succeed are just some of the assets they will bring to this industry,” said FAMU President Larry Robinson, Ph.D. “We thank JLL for its inclusivity and generosity. This is a sound investment in the future of students.”

JLL is committed to attracting, hiring and developing a diverse and engaged workforce within its inclusive culture. For years, the company has made D&I a priority and announced initiatives, including a need-blind student loan repayment program through its capital markets group that assists new hires with student loan repayment support up to $15,000 over a three-year period and investing $4 million to fund entry-level compensation for racially diverse and female sales professionals, supplementing the industry's traditional commission-based salary models.

“We are turning words into action through all of our overall initiatives and commitment to FAMU students specifically through this scholarship,” Bates said. “HBCUs, and FAMU in particular, have a long, rich history of graduating some of our country’s trail blazers. Our hope is that the fund helps inspire a new generation of diverse leaders in commercial real estate.”

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