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HFF, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2019 10-Q, filed May 7, 2019. Its latest SEC filing is a SC 13G/A from Aug 8, 2019.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Arranges debt and equity financing, advises commercial property owners on sales, and provides loan servicing for property owners, lenders and investors.

How Did They Make Money?

Property owners and capital providers pay HFF fees for arranging debt and equity financing, brokering property sales, and selling loan portfolios; these fees are generally collected when a transaction closes or capital is funded. Lenders or borrowers pay servicing fees as HFF performs loan servicing.

FY2018 revenue

Who Were Their Customers?

Property owners seeking financing or a sale, along with lenders and equity investors, hire HFF for capital markets services. Its clients range from individual property owners to real estate funds and institutional owners; debt is placed with domestic and foreign funding sources.

Did Revenues Turn Into Profits?

Yes. It kept 18 cents of every revenue dollar as net income in FY2018 and turned 21 cents into free cash flow.

Operating income, FY2018
14% of revenue
▼ −10% vs FY2017 ($105.3M, 17%)
Net income, FY2018
18% of revenue
▲ +22% vs FY2017 ($95M, 16%)
Free cash flow, FY2018
21% of revenue
▲ +23% vs FY2017 ($113.8M, 19%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q1 FY2019, the three months to Mar 31, 2019
Revenue
▲ +21%
vs $131.6M in Q1 FY2018
Net income
▲ +63%
vs $17.1M in Q1 FY2018
  • Jul 1, 2019 JLL completed its acquisition of HFF, which became its wholly owned subsidiary. HFF shares were converted into cash and JLL shares, and HFF requested the delisting of its shares.

Grew. Revenue grew 55% in 4 years, from $425.9M in FY2014 to $662M in FY2018, about 12% a year.

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