HFF 10-Q 7 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	HF
Entity Registrant Name	HFF, Inc.
Entity Central Index Key	0001380509
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Class A Shares Outstanding		39,823,827

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 235,212	$ 305,555
Restricted cash	5,234	1,723
Accounts receivable	10,283	8,150
Mortgage notes receivable	966,694	351,194
Prepaid taxes	1,240	671
Prepaid expenses and other current assets	18,787	13,021
Total current assets	1,237,450	680,314
Property and equipment, net	18,778	17,196
Operating lease right-of-use asset	34,970
Deferred tax asset, net	35,863	41,124
Goodwill	8,581	8,512
Intangible assets, net	74,313	73,862
Securities - held to maturity	25,000	25,000
Other noncurrent assets	12,820	12,045
Total assets	1,447,775	858,053
Current liabilities:
Current portion of long-term debt	79	3,898
Current portion of operating lease liabilities	9,397
Warehouse line of credit	961,252	348,378
Accrued compensation and related taxes	49,705	67,653
Accounts payable	4,359	3,204
Payable under tax receivable agreement	8,313	8,313
Other current liabilities	29,094	21,968
Total current liabilities	1,062,199	453,414
Deferred rent credit		11,825
Payable under the tax receivable agreement, less current portion	41,977	41,977
Long-term debt, less current portion	52	66
Noncurrent operating lease liabilities	37,436
Other noncurrent liabilities	608	225
Total liabilities	1,142,272	507,507
Stockholders’ equity:
Class A common stock, par value $0.01 per share, 175,000,000 authorized; 39,857,514 and 39,143,253 shares issued, respectively; 39,823,827 and 39,116,745 shares outstanding, respectively	399	391
Treasury stock, 33,687 and 26,508 shares at cost, respectively	(1,501)	(1,220)
Additional paid-in-capital	159,229	159,636
Accumulated other comprehensive loss	(728)	(743)
Retained earnings	148,104	192,482
Total equity	305,503	350,546
Total liabilities and stockholders’ equity	$ 1,447,775	$ 858,053

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	175,000,000	175,000,000
Common stock, shares issued	39,857,514	39,143,253
Common stock, shares outstanding	39,823,827	39,116,745
Treasury Stock, Shares	33,687	26,508

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Revenues	$ 159,182	$ 131,618
Expenses
Cost of services	90,271	78,644
Personnel	20,289	22,064
Occupancy	4,160	3,813
Travel and entertainment	5,918	6,382
Supplies, research, and printing	2,316	2,191
Insurance	692	689
Professional fees	3,239	1,670
Depreciation and amortization	6,127	5,481
Interest on warehouse line of credit	3,911	4,211
Other operating	3,403	3,766
Total expenses	140,326	128,911
Operating income	18,856	2,707
Interest and other income, net	14,211	15,171
Interest expense	(1)	(5)
(Increase) decrease in payable under the tax receivable agreement	0	0
Income before income taxes	33,066	17,873
Income tax expense	5,256	805
Net income	27,810	17,068
Other comprehensive income:
Foreign currency translation adjustments	15	495
Comprehensive income	$ 27,825	$ 17,563
Earnings per share - Basic and Diluted
Earnings per share available to HFF, Inc. common stockholders - Basic	$ 0.70	$ 0.44
Earnings per share available to HFF, Inc. common stockholders - Diluted	$ 0.69	$ 0.42
Capital Markets Services [Member]
Revenues
Revenues	$ 153,366	$ 125,458
Interest on Mortgage Notes Receivable [Member]
Revenues
Revenues	4,589	5,244
Other [Member]
Revenues
Revenues	$ 1,227	$ 916

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid in Capital [Member]	Accumulated Other Comprehensive (Loss)/Income [Member]	Retained Earnings [Member]
Beginning balance at Dec. 31, 2017	$ 286,467	$ 387	$ (4,971)	$ 144,304	$ 171	$ 146,576
Beginning balance, shares at Dec. 31, 2017		38,579,544	163,154
Cumulative effect of adoption of new accounting standard	1,304					1,304
Stock compensation and other, net	10,188			10,188
Issuance of Class A common stock, net		$ 4	$ 17,273	(17,277)
Issuance of Class A common stock, net, shares		822,207	(423,501)
Repurchase of Class A common stock	(14,101)		$ (14,101)
Repurchase of Class A common stock, shares		(298,931)	298,931
Foreign currency translation adjustment	495				495
Dividends paid	(67,772)			3,663		(71,435)
Net income	17,068					17,068
Ending balance at Mar. 31, 2018	233,649	$ 391	$ (1,799)	140,878	666	93,513
Ending balance, shares at Mar. 31, 2018		39,102,820	38,584
Beginning balance at Dec. 31, 2018	350,546	$ 391	$ (1,220)	159,636	(743)	192,482
Beginning balance, shares at Dec. 31, 2018		39,116,745	26,508
Stock compensation and other, net	10,365			10,365
Issuance of Class A common stock, net		$ 8	$ 14,231	(14,239)
Issuance of Class A common stock, net, shares		1,044,669	(330,408)
Repurchase of Class A common stock	(14,512)		$ (14,512)
Repurchase of Class A common stock, shares		(337,587)	337,587
Foreign currency translation adjustment	15				15
Dividends paid	(68,721)			3,467		(72,188)
Net income	27,810					27,810
Ending balance at Mar. 31, 2019	$ 305,503	$ 399	$ (1,501)	$ 159,229	$ (728)	$ 148,104
Ending balance, shares at Mar. 31, 2019		39,823,827	33,687

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities
Net income	$ 27,810	$ 17,068
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	5,850	5,752
Deferred taxes	5,091	666
Increase (decrease) in payable under the tax receivable agreement	0	0
Depreciation	1,183	1,100
Amortization	4,944	4,381
Gain on sale and initial recording of mortgage servicing rights	(7,112)	(8,573)
Mortgage service rights assumed	(885)	(935)
Other	(370)
Increase (decrease) in cash from changes in:
Accounts receivable	(2,133)	(1,960)
Mortgage notes receivable	(612,874)	(508,586)
Net borrowings on warehouse line of credit	612,874	508,586
Prepaid taxes, prepaid expenses and other current assets	(5,781)	914
Other noncurrent assets	(538)	1,159
Accrued compensation and related taxes	(13,263)	(15,167)
Accounts payable	1,155	(1,740)
Other current liabilities	7,126	(4,279)
Deferred rent and other noncurrent liabilities		(309)
Net cash provided by operating activities	23,077	(1,923)
Investing activities
Purchases of property and equipment	(2,788)	(490)
Purchase of securities and other investments	(3,800)
Net cash used in investing activities	(6,588)	(490)
Financing activities
Payments on long-term debt	(33)	(62)
Dividends paid	(68,721)	(67,772)
Treasury stock	(14,512)	(14,101)
Net cash used in financing activities	(83,266)	(81,935)
Effects of exchange rate changes on cash and cash equivalents and restricted cash	(55)	374
Net decrease in cash and cash equivalents and restricted cash	(66,832)	(83,974)
Cash and cash equivalents and restricted cash, beginning of period	307,278	276,802
Cash and cash equivalents and restricted cash, end of period	$ 240,446	$ 192,828

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation Organization HFF, Inc., a Delaware corporation (the “Company”), through its wholly-owned subsidiaries, Holliday Fenoglio Fowler, L.P., a Texas limited partnership (“HFF LP”), HFF Securities L.P., a Delaware limited partnership and registered broker-dealer (“HFF Securities” and together with HFF LP, the “Operating Partnerships”), HFF Real Estate Limited and HFF Securities Limited, in the United Kingdom, is a commercial real estate financial intermediary providing commercial real estate and capital markets services including debt placement, investment advisory, equity placements, investment banking and advisory services, loan sales and loan sale advisory services, commercial loan servicing, and capital markets advice and maintains offices in 25 cities in the United States and one office in London, United Kingdom. The Company’s operations are impacted by the availability of equity and debt as well as credit and liquidity in the domestic and global capital markets especially in the commercial real estate sector. Significant disruptions or changes in domestic and global capital market flows, as well as credit and liquidity issues in the global and domestic capital markets, regardless of their duration, could adversely affect the supply and demand for capital from investors for commercial real estate investments which could have a significant impact on all of the Company’s capital market services revenues. Initial Public Offering and Reorganization The Company completed its initial public offering (“IPO”) and the Company’s Class A Common Stock began trading on the New York Stock Exchange under the symbol “HF” in the first quarter of 2007. The proceeds of the initial public offering, including the exercise of the underwriter’s option to purchase additional shares, were used to purchase from HFF Holdings LLC, a Delaware limited liability company (“HFF Holdings”), all of the shares of Holliday GP Corp. (“Holliday GP”) and purchase from HFF Holdings partnership units of the Operating Partnerships (including partnership units in the Operating Partnerships held by Holliday GP). HFF Holdings used a portion of its proceeds to repay all outstanding indebtedness under HFF LP’s credit agreement. Accordingly, the Company did not retain any of the proceeds from the initial public offering. In addition to cash received for its sale of all of the shares of Holliday GP and approximately 45% of partnership units of each of the Operating Partnerships (including partnership units in the Operating Partnerships held by Holliday GP), HFF Holdings also received, through the issuance of one share of HFF, Inc.’s Class B common stock to HFF Holdings, an exchange right that permitted, subject to certain restrictions, HFF Holdings to exchange interests in the Operating Partnerships for shares of (i) the Company’s Class A common stock (the “Exchange Right”) and (ii) rights under a tax receivable agreement between the Company and HFF Holdings (the “TRA”). See Notes 16 and 17 for further discussion of the tax receivable agreement. As a result of the reorganization in connection with the IPO, the Company became a holding company through a series of transactions pursuant to a sale and purchase agreement. As a result of the IPO and reorganization, the Company’s sole assets were partnership interests in Operating Partnerships (that are held through its wholly-owned subsidiary HFF Partnership Holdings, LLC, a Delaware limited liability company (“Partnership Holdings”) and all of the shares of Holliday GP, the sole general partner of each of the Operating Partnerships. The transactions that occurred in connection with the IPO and reorganization are referred to as the “Reorganization Transactions.” The Reorganization Transactions were treated, for financial reporting purposes, as a reorganization of entities under common control. As of August 31, 2012, HFF Holdings had utilized its Exchange Right to exchange all of its remaining interests in the Operating Partnerships and therefore the Company, through its wholly-owned subsidiaries, became and continues to be the sole equity holder of the Operating Partnerships. Proposed Merger with Jones Lang LaSalle Incorporated On March 18, 2019, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among Jones Lang LaSalle Incorporated, a Maryland corporation (“Parent”), JLL CM, Inc., a Delaware corporation and wholly owned subsidiary of JLL (“Merger Sub”), JLL CMG, LLC, a Delaware limited liability company and wholly owned subsidiary of JLL (“Merger LLC”), and the Company. The Merger Agreement provides, among other things, that, upon the terms and subject to the conditions set forth in the Merger Agreement, (i) Merger Sub will merge with and into the Company, with the Company as the surviving corporation (the “Merger”), and (ii) following the completion of the Merger, the surviving corporation from the Merger will merge with and into Merger LLC (the “Subsequent Merger”), with Merger LLC surviving the Subsequent Merger and continuing as a wholly owned subsidiary of Parent. The Company’s Board of Directors (the “Board”) has, by unanimous vote, approved the Merger Agreement, the Merger and the other transactions contemplated by the Merger Agreement. Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger, (the “Effective Time”), each share of Class A common stock of the Company, par value $0.01 per share (“Company Shares”), issued and outstanding immediately prior to the Effective Time (other than shares held by the Company, Parent or any of their respective subsidiaries and shares held by any holder of Company Shares who is entitled to demand and properly demands appraisal of such shares under Delaware law) will convert into (i) $24.63 per share in cash and (ii) 0.1505 of a share of common stock of Parent, par value $0.01 per share (“Parent Common Stock”). No fractional shares of Parent Common Stock will be issued in the Merger, and holders of Company Shares will receive cash in lieu of any fractional shares of Parent Common Stock. The closing of the Merger is subject to certain conditions, including, among others, (i) the adoption of the Merger Agreement by the holders of at least a majority of the outstanding Company Shares entitled to vote thereon, (ii) the approval for listing on the New York Stock Exchange of the shares of Parent Common Stock issuable to the Company’s stockholders pursuant to the Merger Agreement, (iii) the expiration or earlier termination of the waiting period under Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and regulatory approval by FINRA, the U.K. Financial Conduct Authority, the Federal Home Loan Mortgage Corporation and certain state regulatory authorities, (iv) no court order or other legal restraint or prohibition preventing the consummation of the Merger or the Subsequent Merger, (v) the effectiveness of a registration statement on Form S-4 to be filed with the Securities and Exchange Commission by Parent in connection with the issuance of shares of Parent Company Stock in the Merger, (vi) in the case of each party’s obligation to effect the Merger, the absence of a material adverse effect with respect to the other party since the date of the Merger Agreement and (vii) subject to materiality exceptions, the accuracy of the representations and warranties made by Parent, Merger Sub and Merger LLC, on the one hand, and the Company, on the other hand, and compliance by Parent, Merger Sub, Merger LLC and the Company in all material respects with their respective obligations under the Merger Agreement. Effective April 15, 2019, the early termination of the Hart-Scott-Rodino waiting period was granted by the Federal Trade Commission. The Merger Agreement contains specified termination rights for both the Company and Parent. The Company must pay Parent a termination fee of $54,000,000 if the Merger Agreement is terminated under certain specified circumstances, including (i) following a failure by the Company to obtain the requisite stockholder approval if the Company enters into a transaction with respect to a Company Competing Proposal (as defined in the Merger Agreement) within 12 months of such termination, (ii) if Parent terminates the Merger Agreement following a change of recommendation, (iii) if the Company terminates the Merger Agreement to enter into a Company Superior Proposal (as defined in the Merger Agreement) or (iv) if the Company has committed a material breach of the restrictions regarding dealing with third parties. Furthermore, Parent must pay the Company a termination fee of $75,000,000 if the Merger Agreement is terminated under certain specified circumstances, including (i) as a result of a judgment or other legal prohibition or restraint arising under the antitrust laws, and solely in such case, as of the date of such termination, all of the conditions other than antitrust-related conditions have been satisfied or waived other than those conditions that by their nature are only capable of being satisfied at the closing and (ii) if, upon reaching the 9-month anniversary of the Merger Agreement (which may be extended by up to 6 months under certain circumstances), the Company or Parent terminates the Merger Agreement and all of the conditions other than approval under the antitrust laws have been satisfied or waived at such time, other than conditions that by their nature would be satisfied if the closing and the closing date had occurred on the date of such termination. The foregoing summary of the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference to the terms and conditions of the Merger Agreement, a copy of which is attached as Exhibit 2.1 to the Company’s Current Report on Form 8-K, filed on March 20, 2019. Basis of Presentation The accompanying consolidated financial statements of the Company include the accounts of HFF LP, HFF Securities, HFF Real Estate Limited and HFF Securities Limited, as well as the Company’s additional wholly-owned subsidiaries, Holliday GP, Partnership Holdings and HFF InvestCo LLC. All significant intercompany accounts and transactions have been eliminated. Recent Accounting Pronouncements In February 2016, the FASB issued guidance on the accounting for leases. This guidance requires that a lessee recognize assets and liabilities on the balance sheet for all leases with a lease term of more than twelve months, with the result being the recognition of a right of use asset and a lease liability. The Company adopted the new standard on January 1, 2019 on a modified retrospective basis and did not restate comparative periods. Upon adoption, the Company elected to utilize the package of practical expedients permitted under the transition guidance, which allows the Company to carryforward (i) the historical lease classification, (ii) its assessment on whether a contract is or contains a lease and (iii) previously capitalized initial direct costs for any leases that exist prior to adoption of the new standard. The Company will also elect to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in the consolidated statements of comprehensive income on a straight-line basis over the lease term. Upon adoption, approximately $37.0 million was recognized as a right-of-use asset and approximately $49.4 million was recorded as a lease liability on our consolidated statement of financial position as of January 1, 2019. The new standard also requires expanded disclosure regarding the amounts, timing and uncertainties of cash flows related to a company’s lease portfolio. Refer to Note 9 for In June 2016, the FASB issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, requires that an entity measure impairment of certain financial instruments, including trade receivables, based on expected losses rather than incurred losses. This update is effective for annual and interim financial statement periods beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. The Company is currently evaluating this standard to determine the impact of adoption on its consolidated financial statements. In June 2018, the FASB issued ASU 2018-07 “Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment Accounting”, to simplify the accounting for share–based payments granted to nonemployees by aligning the accounting with the requirements for employee share–based compensation. The Company adopted the new standard on January 1, 2019 and the adoption did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13 “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for the Fair Value Measurement. The update eliminates the disclosure requirements associated with (a) the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (b) policies related to the timing and transfers between levels of the fair value hierarchy and (c) the valuation processes for Level 3 fair value measurements. ASU 2018-13 will require disclosures related to the range and weighted averages used to develop significant unobservable inputs for Level 3 fair value measurements. ASU 2018-13 is effective for the Company on January 1, 2020 with early adoption permitted. The Company does not expect the adoption of this guidance to have a material impact on the Company's consolidated financial statements or disclosures.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies These interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information, the instructions to Quarterly Report on Form 10-Q and Article 10 of Regulation S-X and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments consisting of normal and recurring entries considered necessary for a fair presentation of the results for the interim periods presented have been included. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts in the financial statements and accompanying notes. These estimates are based on information available as of the date of the unaudited consolidated financial statements. Therefore, actual results could differ from those estimates. Furthermore, operating results for the three months ended March 31, 2019 are not necessarily indicative of the results expected for the year ending December 31, 2019. Revenue Recognition. Substantially all of the Company’s revenues are derived from capital markets services. These capital markets services revenues are in the form of fees collected from the Company’s clients, usually negotiated on a transaction-by-transaction basis, which includes origination fees, investment advisory fees earned for brokering sales of commercial real estate, loan sales and loan servicing fees. The Company also earns interest on mortgage notes receivable during the period between the origination of the loan and the subsequent sale to Freddie Mac in connection with the Company’s participation in the Freddie Mac Program. Total Revenues: Capital markets services revenues . The Company earns its capital markets services revenue through the following activities and sources: • Origination fees • Investment advisory fees • Loan sales The Company’s contracts are generally negotiated on a transaction-by-transaction basis with a success-based fee awarded upon the satisfaction of the origination, sale, referral, placement or equity raise. The Company’s agreements generally include such success-based fees for services that are performed over time under one performance obligation. The variable consideration associated with the successful outcome remains constrained until the completion of the transaction, generally at the closing of the applicable financing or funding of the transaction. Once the constraint is lifted, revenue is recognized as the Company’s fee agreements do not include terms or conditions that require the Company to perform any service or fulfill any obligation once the transaction closes. The substantial majority of the Company’s transactions are completed within one year and the Company has utilized the practical expedients within Topic 606 related to financing components and costs of obtaining a contract due to the short-term nature of the contracts. • Loan servicing fees and loan performance fees. The revenues associated with loan servicing fees are accounted for in accordance with Topic 860, Transfers and Servicing Interest on mortgage notes receivable. The Company recognizes interest income on the accrual basis during the holding period based on the contract interest rate in the loan that is to be purchased by Freddie Mac in connection with the Company’s participation in the Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Senior Housing Loans program (“Freddie Mac Program”), provided that the debt service is paid by the borrower. Other . Certain of the Company’s fee agreements provide for reimbursement of transaction-related costs which the Company recognizes as other revenue. Reimbursements received from clients for out-of-pocket expenses are characterized as revenue in the consolidated statements of comprehensive income rather than as a reduction of expenses incurred. Because the Company is the primary obligor, has supplier discretion, and bears the credit risk for such expenses, the Company records reimbursement revenue for such out-of-pocket expenses. Reimbursement revenue is recognized over time based upon the measure of progress to completion. Disaggregation of Revenue. The Company disaggregates its revenue from contracts with customers by its multiple platforms, as the Company believes it best depicts how the nature, amount, timing and uncertainty of the Company’s revenue and cash flows are affected by economic factors. The following table provides a reconciliation of the Company’s revenue recognized under Topic 606 to the Company’s consolidated revenues: Revenue Category Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Debt placement origination fees $ 65,508 $ 54,871 Investment advisory fees 61,432 47,523 Equity placement origination fees 16,667 14,081 Loan sales 359 592 Capital markets services revenue recognized under Topic 606 143,966 117,067 Loan servicing and loan performance fees 9,400 8,391 Capital markets services revenue 153,366 125,458 Interest on mortgage notes receivable 4,589 5,244 Other ( 1) 1,227 916 Total revenue $ 159,182 $ 131,618 (1)- Other revenues are recognized under Topic 606. Firm and Office Profit Participation Plans and Executive Bonus Plan. The Company has a firm profit participation plan, office profit participation plans, and an executive bonus plan (the “Plans”) that each allow for incentive payments to be made, based on the achievement of various performance metrics, either in the form of cash or stock at the election of the Company’s board of directors. The expense associated with the Plans is included within personnel expenses in the consolidated statements of comprehensive income. The expense recorded for these Plans is estimated during the year based on actual results at each interim reporting date and an estimate of future results for the remainder of the year. Based on an accounting policy election and consistent with ASC Topic 718, Compensation - Stock Compensation , the expense associated with the estimated share-based component of the estimated incentive payout is recognized before the grant date of the share-based awards due to the fact that the terms of the Plans have been approved by the Company’s board of directors, the employees of the Company understand the requirements to earn the award, the number of shares is not determined before the grant date and, finally, if the performance metrics are not met during the performance year, the award is not earned and therefore forfeited. Prior to the grant date, the share-based component expense is recorded as incentive compensation expense within personnel expenses in the Company’s consolidated statements of comprehensive income. Following the award, if any, of the related incentive payout, the share-based component expense is reclassified as stock compensation costs within personnel expenses and the share-based component of the accrued incentive compensation is reclassified as additional paid-in-capital upon the granting of the awards on the Company’s consolidated balance sheets. The Plans allow for payment to be made in both cash and share-based awards. The cash portion of the awards will not be subject to time-based vesting conditions and will be expensed during the performance year. The share-based portion of the awards is subject to a three-year time-based vesting schedule beginning on the first anniversary of the grant (which is made in the first calendar quarter of the subsequent year). As a result, the total expense for the share-based portion of the awards is recorded over the period from the beginning of the performance year through the vesting date, or 50 months.

Stock Compensation

Stock Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Compensation	3. Stock Compensation The stock compensation cost that has been charged against income for the three months ended March 31, 2019 and 2018 was $5.9 million and $5.8 million, respectively. At March 31, 2019, there was approximately $53.9 million of unrecognized compensation cost related to non-vested restricted stock units with a weighted average remaining contractual term of 2.7 years. As of March 31, 2019, there were 1,951,716 restricted stock units outstanding, of which 1,783,355 have continued vesting requirements. During the three-month period ended March 31, 2019, no options were granted, vested, exercised or forfeited. During the three-month period ended March 31, 2019, 755,823 new restricted stock units were granted, 1,053,742 restricted stock units vested of which 1,044,669 were converted to Class A common stock, and 51,006 restricted stock units were forfeited. The fair value of vested restricted stock units was $11.4 million at March 31, 2019.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2019
Property Plant And Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consist of the following: March 31, December 31, 2019 2018 (in thousands) Furniture and equipment $ 8,327 $ 8,426 Computer equipment 1,759 1,759 Capitalized software costs 3,931 3,665 Leasehold improvements 23,297 21,065 Property and equipment, gross 37,314 34,915 Less accumulated depreciation and amortization (18,536 ) (17,719 ) Property and equipment, net $ 18,778 $ 17,196 At March 31, 2019 and December 31, 2018, the Company has recorded, within furniture and equipment, office equipment under finance leases of $1.1 million and $1.2 million, respectively, including accumulated amortization of $1.0 million and $1.0 million, respectively, which is included within depreciation and amortization expense in the accompanying consolidated statements of comprehensive income.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	5. Goodwill and Intangible Assets The Company’s goodwill at March 31, 2019 is summarized as follows (in thousands): Balance at December 31, 2018 $ 8,512 Additions through acquisitions — Foreign currency translation 69 Balance at March 31, 2019 $ 8,581 The Company performs goodwill impairment tests annually during the fourth quarter, and also performs interim goodwill impairment tests if it is determined that it is more likely than not that the fair value of a reporting unit is less than the carrying amount. No goodwill impairment test was required for the three-month period ended March 31, 2019. The Company’s intangible assets are summarized as follows: March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value (in thousands) Intangible assets: Mortgage servicing rights $ 120,198 $ (46,087 ) $ 74,111 $ 116,683 $ (43,039 ) $ 73,644 Other 671 (469 ) 202 940 (722 ) $ 218 Total intangible assets $ 120,869 $ (46,556 ) $ 74,313 $ 117,623 $ (43,761 ) $ 73,862 As of March 31, 2019 and December 31, 2018, the Company serviced $82.9 billion and $81.2 billion, respectively, of commercial loans. The Company earned $9.4 million and $8.4 million in servicing fees for the three months ended March 31, 2019 and 2018, respectively. These revenues are recorded within capital markets services revenues in the consolidated statements of comprehensive income. The total commercial loan servicing portfolio includes loans for which there are no corresponding mortgage servicing rights recorded on the balance sheet, as these servicing rights were assumed prior to the Company’s adoption of ASC Topic 860, Transfers and Servicing The Company stratifies its servicing portfolio based on the type of loan, including Freddie Mac, commercial mortgage backed securities (“CMBS”), life company loans and limited-service life company loans. Changes in the carrying value of mortgage servicing rights for the three months ended March 31, 2019 and 2018, were as follows (dollars in thousands): Category December 31, 2018 Capitalized Amortized March 31, 2019 Freddie Mac $ 57,747 $ 4,509 $ (3,329 ) $ 58,927 CMBS 11,314 53 (752 ) 10,615 Life company 4,097 786 (749 ) 4,134 Life company – limited 486 46 (97 ) 435 Total $ 73,644 $ 5,394 $ (4,927 ) $ 74,111 Category December 31, 2017 Capitalized Amortized March 31, 2018 Freddie Mac $ 40,468 $ 6,284 $ (2,621 ) $ 44,131 CMBS 13,514 297 (903 ) 12,908 Life company 3,833 548 (665 ) 3,716 Life company – limited 668 90 (106 ) 652 Total $ 58,483 $ 7,219 $ (4,295 ) $ 61,407 Amounts capitalized represent mortgage servicing rights retained upon the sale of originated loans to Federal Home Loan Mortgage Corporation (“Freddie Mac”) and mortgage servicing rights acquired without the exchange of initial consideration. The Company recorded mortgage servicing rights retained upon the sale of originated loans to Freddie Mac of $4.5 million and $6.3 million on $0.7 billion and $1.3 billion of loans during the three months ended March 31, 2019 and 2018, respectively. The Company recorded mortgage servicing rights acquired without the exchange of initial consideration on the CMBS and Life company tranches of $0.9 million and $0.9 million on $2.6 billion and $2.9 billion of loans, respectively, during the three months ended March 31, 2019 and 2018, respectively. The Company also received securitization compensation in relation to the securitization of certain Freddie Mac mortgage servicing rights in the three months ended March 31, 2019 and 2018 of $2.9 million and $4.9 million, respectively. The securitization compensation is recorded within interest and other income, net in the consolidated statements of comprehensive income. Amortization expense related to intangible assets was $4.9 million and $4.4 million during the three months ended March 31, 2019 and 2018, respectively and is recorded in depreciation and amortization in the consolidated statements of comprehensive income. Estimated amortization expense for the remainder of 2019 and the following four years is as follows (dollars in thousands): Remainder of 2019 $ 11,695 2020 13,632 2021 11,630 2022 9,913 2023 8,817 The weighted-average life of the mortgage servicing rights intangible asset was 6.6 years at March 31, 2019.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement	6. Fair Value Measurement ASC Topic 820, Fair Value Measurement In the normal course of business, the Company enters into contractual commitments to originate (purchase) and sell multifamily mortgage loans at fixed prices with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, the Company enters into a sale commitment with Freddie Mac simultaneously with the rate lock commitment with the borrower. The terms of the contract with Freddie Mac and the rate lock with the borrower are matched in substantially all respects to eliminate interest rate risk. Both the rate lock commitments to borrowers and the forward sale contracts to Freddie Mac are undesignated derivatives with level 2 inputs and, accordingly, are marked to fair value through earnings. The impact on the Company’s financial position and earnings resulting from loan commitments is not significant. The Company elected the fair value option for all mortgage notes receivable originated after January 1, 2016 to eliminate the impact of the variability in interest rate movements on the value of the mortgage notes receivable. The following tables set forth the Company’s financial assets that were accounted for at fair value on a recurring basis by level within the fair value hierarchy as of March 31, 2019 and December 31, 2018 (in thousands): Recurring fair value measurements Fair Value Measurements Using: March 31, 2019 Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage notes receivable $ 966,694 $ — $ 966,694 $ — Total recurring fair value measurements $ 966,694 $ — $ 966,694 $ — Fair Value Measurements Using: December 31, 2018 Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage notes receivable $ 351,194 $ — $ 351,194 $ — Total recurring fair value measurements $ 351,194 $ — $ 351,194 $ — The valuation of mortgage notes receivable is calculated based on already locked in interest rates. These assets are classified as Level 2 in the fair value hierarchy as all inputs are reasonably observable. The following table sets forth the Company’s financial assets that were accounted for at fair value on a nonrecurring basis by level within the fair value hierarchy as of March 31, 2019 and December 31, 2018 (in thousands): Nonrecurring fair value measurements: Fair Value Measurements Using: March 31, 2019 Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage servicing rights $ 74,111 $ — $ — $ 92,490 Total nonrecurring fair value measurements $ 74,111 $ — $ — $ 92,490 Fair Value Measurements Using: December 31, 2018 Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage servicing rights $ 73,644 $ — $ — $ 91,787 Total nonrecurring fair value measurements $ 73,644 $ — $ — $ 91,787 In accordance with GAAP, from time to time, the Company measures certain assets at fair value on a nonrecurring basis. These assets may include mortgage servicing rights. The mortgage servicing rights are recorded at fair value upon initial recording and were not remeasured at fair value as of March 31, 2019 because the Company continues to utilize the amortization method under ASC 860 and the fair value of the mortgage servicing rights exceeds the carrying value at March 31, 2019. Mortgage servicing rights do not trade in an active, open market with readily-available observable prices. Since observable inputs do not exist to determine the market value for the mortgage servicing rights, such as quoted market prices or prices based on sales or purchases of similar assets, the Company determines the fair value of the mortgage servicing rights by estimating the present value of future cash flows associated with the servicing of the loans. Management makes certain assumptions and judgments in estimating the fair value of servicing rights, including the cost of servicing, prepayment rates (including risk of default), an inflation rate, the expected life of the cash flows and the discount rate. The significant assumptions utilized to value servicing rights as of March 31, 2019 and December 31, 2018 are as follows: March 31, December 31, 2019 2018 Expected life of cash flows 3 years to 10 years 3 years to 10 years Discount rate (1) 10% to 16% 10% to 16% Prepayment rate 0% to 8% 0% to 8% Inflation rate 2% 2% Cost of service per loan $1,920 to $4,803 $1,920 to $4,743 (1) Reflects the time value of money and the risk of future cash flows related to the possible cancellation of servicing contracts, transferability restrictions on certain servicing contracts, concentration in the life company portfolio and large loan risk. The above assumptions are subject to change based on management’s judgments and estimates of future changes in the risks related to future cash flows and interest rates. Changes in these factors would cause a corresponding increase or decrease in the prepayment rates and discount rates used in the Company’s valuation model. The Company’s financial instruments also include cash and cash equivalents, restricted cash, securities held to maturity and warehouse lines of credit. The cash and cash equivalents and restricted cash balances include accounts with maturities of less than three months and therefore, the carrying amount approximates fair value due to the short-term maturities of these instruments. The cash and cash equivalents and restricted cash accounts are classified as Level 1 within the fair value hierarchy. The Company’s $25.0 million investment in securities held to maturity are classified as level 2 within the fair value hierarchy and carried at amortized cost. The securities are required to be redeemed upon the completion of the three-year term of the Risk Transfer Agreement, as defined in Note 7, and will be redeemed for $25.0 million. The warehouse line of credit is a short-term facility with variable interest rates and therefore, fair value approximates carrying value. The warehouse line of credit is classified as Level 2 within the fair value hierarchy.

Securities Held-to-Maturity

Securities Held-to-Maturity	3 Months Ended
	Mar. 31, 2019
Investments Debt And Equity Securities [Abstract]
Securities Held-to-Maturity	7. Securities Held-to-Maturity On July 2, 2018, the Company invested $25.0 million in mandatorily redeemable preferred stock of M&T Realty Capital Corporation (“M&T-RCC”) in connection with a risk transfer agreement entered into between the Company and M&T-RCC (the “Risk Transfer Agreement”), which is expected to enable the Company to increase the Company’s share of Fannie Mae’s Delegated Underwriting and Servicing (“DUS®”) business. Through the Risk Transfer Agreement, the Company sources multifamily property loans to M&T-RCC, which funds the loans through its Fannie Mae DUS® loan platform. In connection with the Risk Transfer Agreement, the Company indemnifies M&T-RCC for their credit recourse obligations associated with loans originated under the Risk Transfer Agreement. In addition to the $25.0 million investment, the Company deposits a portion of the original principal balance for each loan originated under the Risk Transfer Agreement to serve as collateral for any potential future indemnification obligations. As of March 31, 2019, collateral deposits totaling $3.7 million has been recorded within other noncurrent assets. For additional information on the Company’s indemnification obligation under the Risk Transfer Agreement see Note 16.

Warehouse Line of Credit

Warehouse Line of Credit	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Warehouse Line of Credit	8. Warehouse Line of Credit HFF LP maintains two uncommitted warehouse revolving lines of credit for the purpose of funding Freddie Mac mortgage loans that it originates under the Freddie Mac Program. The Company is a party to an uncommitted $600 million financing arrangement with PNC Bank, N.A. (“PNC”). The PNC arrangement was amended during the first quarter of 2018 to increase the maximum capacity from $600 million to $1.0 billion. The Company is also party to an uncommitted $150 million financing arrangement with The Huntington National Bank (“Huntington”). The Huntington arrangement includes an uncommitted amount of $150 million, which can be increased to $175 million three times in a one-year period for 45 calendar days. Each funding is separately approved on a transaction-by-transaction basis and is collateralized by a loan and mortgage on a multifamily property that is ultimately purchased by Freddie Mac. The PNC and Huntington financing arrangements are only for the purpose of supporting the Company’s participation in the Freddie Mac Program and cannot be used for any other purpose. As of March 31, 2019 and December 31, 2018, HFF LP had $961.3 million and

Lease Commitments

Lease Commitments	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lease Commitments	9. Lease Commitments The Company has various operating and financing leases for various corporate offices and office equipment. These leases have initial terms of three to eleven years. Certain of the Company’s leases have i) options to extend the leases for up to 6 years, ii) options to terminate the lease and iii.) options whereby the term may be reduced by two to eight years upon prior notice and payment of a termination fee by the Company. The components of lease expense were as follows: March 31, 2019 (in thousands) Operating lease costs $ 2,541 Finance lease costs: Amortization of right-of-use assets 33 Interest on lease liabilities 1 Total finance lease costs $ 34 Supplemental cash flow information related to leases was as follows: March 31, 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used by operating leases $ 3,056 Operating cash flows used by finance leases 1 Financing cash flows used by finance leases 33 During the three-month period ended March 31, 2019, there were no right-of-use assets obtained in exchange for lease obligations. Supplemental balance sheet information related to leases was as follows: March 31, 2019 (in thousands) Operating leases Operating lease right-of-use assets $ 34,970 Current portion of operating lease liabilities 9,397 Noncurrent operating lease liabilities 37,436 Total operating lease liabilities 46,833 Finance leases Property and equipment, at cost 1,089 Accumulated depreciation (970 ) Property and equipment, net 119 Current portion of long-term debt 79 Long-term debt, less current portion 52 Total finance lease liabilities 131 Weighted average remaining lease term Operating leases 5.8 years Finance leases 2.2 years Weighted average discount rate Operating leases 3.7 % Finance leases 2.2 % Maturities of lease liabilities were as follows: Operating leases Finance leases (in thousands) Remainder of 2019 $ 8,067 $ 74 2020 10,279 51 2021 9,450 9 2022 7,545 7 2023 4,692 2 Thereafter 11,745 — Total lease payments $ 51,778 $ 143 Less imputed interest (4,945 ) (12 ) Total $ 46,833 $ 131 Total rental expense charged to operations was $3.5 million and $3.2 million during the three months ended March 31, 2019 and 2018, respectively, and is recorded within occupancy expense in the consolidated statements of comprehensive income. The Company subleases certain office space to subtenants, which subleases may be canceled at any time. The rental income received from these subleases is included as a reduction of occupancy expenses in the accompanying consolidated statements of comprehensive income and is not material to the Company’s consolidated financial position.

Servicing

Servicing	3 Months Ended
	Mar. 31, 2019
Transfers And Servicing [Abstract]
Servicing	10. Servicing The Company services commercial real estate loans for lenders. The unpaid principal balance of the servicing portfolio totaled $82.9 billion and $81.2 billion at March 31, 2019 and December 31, 2018, respectively.

Legal Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Legal Proceedings	11. Legal Proceedings The Company is party to various litigation matters, in most cases involving ordinary course and routine claims incidental to its business. The Company cannot estimate with certainty its ultimate legal and financial liability with respect to any pending matters. In accordance with ASC Topic 450, Contingencies,

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes Income tax expense includes current and deferred taxes as follows (dollars in thousands): Current Deferred Total Three Months Ended March 31, 2019: Federal $ — $ 4,391 $ 4,391 State 165 649 814 Foreign — 51 51 $ 165 $ 5,091 $ 5,256 Current Deferred Total Three Months Ended March 31, 2018: Federal $ — $ 1,390 $ 1,390 State 139 (380 ) (241 ) Foreign — (344 ) (344 ) $ 139 $ 666 $ 805 The reconciliation between the income tax computed by applying the U.S. federal statutory rate and the effective tax rate on net income is as follows for the three months ended March 31, 2019 and 2018 (dollars in thousands): March 31, 2019 2018 Income tax expense / (benefit) Rate Rate Taxes computed at federal rate $ 6,944 21.0 % $ 3,753 21.0 % State and local taxes, net of federal tax benefit 1,769 5.4 % 870 4.9 % Rate differential on non-US income (4 ) (0.0 )% (1 ) 0.0 % Effect of windfalls related to equity compensation (3,814 ) (11.5 )% (4,535 ) (25.4 )% Meals and entertainment 375 1.1 % 321 1.8 % Other (14 ) (0.1 )% 397 2.2 % Income tax expense $ 5,256 15.9 % $ 805 4.5 %

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2019
Stockholders Equity Note [Abstract]
Stockholders' Equity	13. Stockholders’ Equity The Company is authorized to issue 175,000,000 shares of Class A common stock, par value $0.01 per share. Each share of Class A common stock entitles its holder to one vote on all matters to be voted on by stockholders generally. Holders of Class A common s tock vote together as a single class on all matters presented to the stockholders for their vote or approval. The Company had issued On January 31, 2019, the Company’s board of directors declared a special cash dividend of $1.75 per share of Class A common stock to stockholders of record on February 11, 2019. The aggregate dividend payment was paid on February 27, 2019 and totaled approximately $68.7 million based on the number of shares of Class A common stock then outstanding. Additionally, 79,324 restricted stock units (dividend equivalent units) were granted for those unvested and vested but not issued restricted stock units as of the record date of February 11, 2019. These dividend equivalent units follow the same vesting terms as the underlying restricted stock units. On January 26, 2018, the Company’s board of directors declared a special cash dividend of $1.75 per share of Class A common stock to stockholders of record on February 9, 2018. The aggregate dividend payment was paid on February 21, 2018 and totaled approximately $67.8 million based on the number of shares of Class A common stock then outstanding. Additionally, 79,387 restricted stock units (dividend equivalent units) were granted for those unvested and vested but not issued restricted stock units as of the record date of February 9, 2018. These dividend equivalent units follow the same vesting terms as the underlying restricted stock units.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	14. Earnings Per Share The Company’s net income and weighted average shares outstanding for the three months ended March 31, 2019 and 2018 consist of the following: Three Months Ended March 31, 2019 2018 (in thousands, except per share data) Net income $ 27,810 $ 17,068 Weighted Average Shares Outstanding: Basic 39,680,505 39,041,492 Diluted 40,309,251 40,201,900 The calculations of basic and diluted earnings per share amounts for the three months ended March 31, 2019 and 2018 are described and presented below. Basic Earnings per Share Numerator — net income for the three months ended March 31, 2019 and 2018, respectively. Denominator — the weighted average shares of unrestricted Class A common stock for the three months ended March 31, 2019 and 2018, including 239,375 and 218,702 restricted stock units that have vested and whose issuance is no longer contingent as of March 31, 2019 and 2018, respectively. Diluted Earnings per Share Numerator — net income for the three months ended March 31, 2019 and 2018 as in the basic earnings per share calculation described above. Denominator — the weighted average shares of unrestricted Class A common stock for the three months ended March 31, 2019 and 2018, including 239,375 and 218,702 restricted stock units that have vested and whose issuance is no longer contingent as of March 31, 2019 and 2018, respectively, plus the dilutive effect of the unvested restricted stock units, restricted stock and stock options. Three Months Ended March 31, 2019 2018 (in thousands, except per share data) Basic Earnings Per Share of Class A Common Stock Numerator: Net income $ 27,810 $ 17,068 Denominator: Weighted average number of shares of Class A common stock outstanding 39,680,505 39,041,492 Basic earnings per share of Class A common stock $ 0.70 $ 0.44 Diluted Earnings Per Share of Class A Common Stock Numerator: Net income $ 27,810 $ 17,068 Denominator: Basic weighted average number of shares of Class A common stock 39,680,505 39,041,492 Add—dilutive effect of: Unvested restricted stock units 618,627 1,143,646 Stock options 10,119 16,762 Weighted average common shares outstanding — diluted 40,309,251 40,201,900 Diluted earnings per share of Class A common stock $ 0.69 $ 0.42

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	15. Related Party Transactions As a result of the Company’s initial public offering, the Company entered into a tax receivable agreement with HFF Holdings that provides for the payment by the Company to HFF Holdings of 85% of the amount of the cash savings, if any, in U.S. federal, state and local income tax that the Company actually realizes as a result of the increase in tax basis of the assets owned by HFF LP and HFF Securities and as a result of certain other tax benefits arising from entering into the tax receivable agreement and making payments under that agreement. As members of HFF Holdings, each of Mark Gibson, the Company’s chief executive officer, Jody Thornton, the Company’s president and member of the Company’s board of directors and a capital markets advisor of the Operating Partnerships, John Fowler, a current director emeritus of the Company’s board of directors and a capital markets advisor of the Operating Partnerships, and Matthew D. Lawton, Gerard T. Sansosti, Michael J. Tepedino and Manuel A. de Zarraga, each an Executive Managing Director and a capital markets advisor of the Operating Partnerships, is entitled to participate in such payments, in each case on a pro rata basis based upon such person’s ownership of interests in each series of tax receivable payments created by the initial public offering or subsequent exchange of Operating Partnership units. The Company will retain the remaining 15% of cash savings, if any, in income tax that it realizes. For purposes of the tax receivable agreement, cash savings in income tax is computed by comparing the Company’s actual income tax liability to the amount of such taxes that it would have been required to pay had there been no increase to the tax basis of the assets of HFF LP and HFF Securities allocable to the Company as a result of the initial sale and later exchanges and had the Company not entered into the tax receivable agreement. The term of the tax receivable agreement commenced upon consummation of the initial public offering and will continue until all such tax benefits have been utilized or have expired. See Note 16 for the amount recorded in relation to this agreement.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies Tax Receivable Agreement The Company is obligated, pursuant to its tax receivable agreement with HFF Holdings, to pay to HFF Holdings 85% of the amount of cash savings in U.S. federal, state and local income tax that the Company actually realizes as a result of the increases in tax basis under Section 754 and as a result of certain other tax benefits arising from the Company entering into the tax receivable agreement and making payments under that agreement. We have estimated that future payments that will be made to HFF Holdings will be $50.3 million, of which, approximately $8.3 million is anticipated to be paid in 2019. Risk Transfer Agreement In connection with the Risk Transfer Agreement, the Company will indemnify M&T-RCC’s loan loss exposure for each loan originated under the Risk Transfer Agreement. The Company’s loss exposure is capped at 33.33% of the unpaid principal balance in excess of the collateral securing such loan. As of March 31, 2019, the Company’s maximum quantifiable loss exposure associated with the Company’s indemnification obligation is $123.8 million on $371.5 million of unpaid principal balances. The maximum quantifiable liability is not representative of the actual loss the Company may incur as the Company would only be liable for this amount in the event that all of the loans for which the Company indemnifies M&T-RCC were to default and all of the collateral underlying these loans was determined to be without value at the time of settlement. There were no actual losses incurred under this arrangement during the three months ended March 31, 2019. For loans that have been sold through the Risk Transfer Agreement, the Company records an indemnification accrual equal to the fair value of the guarantee obligations undertaken upon M&T-RCC’s sale of the loan. Subsequently, this accrual is amortized over the estimated life of the loan and recorded as an increase in capital markets services revenues within the consolidated statements of comprehensive income. The Company records a corresponding asset related to loan performance fee rights which will also be amortized over the estimated life of the loan. As of March 31, 2019, the guarantee obligations recorded within other noncurrent liabilities and corresponding asset recorded within other noncurrent assets were approximately $0.6 million.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events The Company has evaluated subsequent events through the date these financial statements were issued and concluded that no subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to consolidated financial statements .

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company include the accounts of HFF LP, HFF Securities, HFF Real Estate Limited and HFF Securities Limited, as well as the Company’s additional wholly-owned subsidiaries, Holliday GP, Partnership Holdings and HFF InvestCo LLC. All significant intercompany accounts and transactions have been eliminated.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued guidance on the accounting for leases. This guidance requires that a lessee recognize assets and liabilities on the balance sheet for all leases with a lease term of more than twelve months, with the result being the recognition of a right of use asset and a lease liability. The Company adopted the new standard on January 1, 2019 on a modified retrospective basis and did not restate comparative periods. Upon adoption, the Company elected to utilize the package of practical expedients permitted under the transition guidance, which allows the Company to carryforward (i) the historical lease classification, (ii) its assessment on whether a contract is or contains a lease and (iii) previously capitalized initial direct costs for any leases that exist prior to adoption of the new standard. The Company will also elect to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in the consolidated statements of comprehensive income on a straight-line basis over the lease term. Upon adoption, approximately $37.0 million was recognized as a right-of-use asset and approximately $49.4 million was recorded as a lease liability on our consolidated statement of financial position as of January 1, 2019. The new standard also requires expanded disclosure regarding the amounts, timing and uncertainties of cash flows related to a company’s lease portfolio. Refer to Note 9 for In June 2016, the FASB issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, requires that an entity measure impairment of certain financial instruments, including trade receivables, based on expected losses rather than incurred losses. This update is effective for annual and interim financial statement periods beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. The Company is currently evaluating this standard to determine the impact of adoption on its consolidated financial statements. In June 2018, the FASB issued ASU 2018-07 “Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment Accounting”, to simplify the accounting for share–based payments granted to nonemployees by aligning the accounting with the requirements for employee share–based compensation. The Company adopted the new standard on January 1, 2019 and the adoption did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13 “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for the Fair Value Measurement. The update eliminates the disclosure requirements associated with (a) the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (b) policies related to the timing and transfers between levels of the fair value hierarchy and (c) the valuation processes for Level 3 fair value measurements. ASU 2018-13 will require disclosures related to the range and weighted averages used to develop significant unobservable inputs for Level 3 fair value measurements. ASU 2018-13 is effective for the Company on January 1, 2020 with early adoption permitted. The Company does not expect the adoption of this guidance to have a material impact on the Company's consolidated financial statements or disclosures.
Revenue Recognition	Revenue Recognition. Substantially all of the Company’s revenues are derived from capital markets services. These capital markets services revenues are in the form of fees collected from the Company’s clients, usually negotiated on a transaction-by-transaction basis, which includes origination fees, investment advisory fees earned for brokering sales of commercial real estate, loan sales and loan servicing fees. The Company also earns interest on mortgage notes receivable during the period between the origination of the loan and the subsequent sale to Freddie Mac in connection with the Company’s participation in the Freddie Mac Program. Total Revenues: Capital markets services revenues . The Company earns its capital markets services revenue through the following activities and sources: • Origination fees • Investment advisory fees • Loan sales The Company’s contracts are generally negotiated on a transaction-by-transaction basis with a success-based fee awarded upon the satisfaction of the origination, sale, referral, placement or equity raise. The Company’s agreements generally include such success-based fees for services that are performed over time under one performance obligation. The variable consideration associated with the successful outcome remains constrained until the completion of the transaction, generally at the closing of the applicable financing or funding of the transaction. Once the constraint is lifted, revenue is recognized as the Company’s fee agreements do not include terms or conditions that require the Company to perform any service or fulfill any obligation once the transaction closes. The substantial majority of the Company’s transactions are completed within one year and the Company has utilized the practical expedients within Topic 606 related to financing components and costs of obtaining a contract due to the short-term nature of the contracts. • Loan servicing fees and loan performance fees. The revenues associated with loan servicing fees are accounted for in accordance with Topic 860, Transfers and Servicing Interest on mortgage notes receivable. The Company recognizes interest income on the accrual basis during the holding period based on the contract interest rate in the loan that is to be purchased by Freddie Mac in connection with the Company’s participation in the Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Senior Housing Loans program (“Freddie Mac Program”), provided that the debt service is paid by the borrower. Other . Certain of the Company’s fee agreements provide for reimbursement of transaction-related costs which the Company recognizes as other revenue. Reimbursements received from clients for out-of-pocket expenses are characterized as revenue in the consolidated statements of comprehensive income rather than as a reduction of expenses incurred. Because the Company is the primary obligor, has supplier discretion, and bears the credit risk for such expenses, the Company records reimbursement revenue for such out-of-pocket expenses. Reimbursement revenue is recognized over time based upon the measure of progress to completion. Disaggregation of Revenue. The Company disaggregates its revenue from contracts with customers by its multiple platforms, as the Company believes it best depicts how the nature, amount, timing and uncertainty of the Company’s revenue and cash flows are affected by economic factors. The following table provides a reconciliation of the Company’s revenue recognized under Topic 606 to the Company’s consolidated revenues: Revenue Category Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Debt placement origination fees $ 65,508 $ 54,871 Investment advisory fees 61,432 47,523 Equity placement origination fees 16,667 14,081 Loan sales 359 592 Capital markets services revenue recognized under Topic 606 143,966 117,067 Loan servicing and loan performance fees 9,400 8,391 Capital markets services revenue 153,366 125,458 Interest on mortgage notes receivable 4,589 5,244 Other ( 1) 1,227 916 Total revenue $ 159,182 $ 131,618 (1)- Other revenues are recognized under Topic 606.
Firm and Office Profit Participation Plans and Executive Bonus Plan	Firm and Office Profit Participation Plans and Executive Bonus Plan. The Company has a firm profit participation plan, office profit participation plans, and an executive bonus plan (the “Plans”) that each allow for incentive payments to be made, based on the achievement of various performance metrics, either in the form of cash or stock at the election of the Company’s board of directors. The expense associated with the Plans is included within personnel expenses in the consolidated statements of comprehensive income. The expense recorded for these Plans is estimated during the year based on actual results at each interim reporting date and an estimate of future results for the remainder of the year. Based on an accounting policy election and consistent with ASC Topic 718, Compensation - Stock Compensation , the expense associated with the estimated share-based component of the estimated incentive payout is recognized before the grant date of the share-based awards due to the fact that the terms of the Plans have been approved by the Company’s board of directors, the employees of the Company understand the requirements to earn the award, the number of shares is not determined before the grant date and, finally, if the performance metrics are not met during the performance year, the award is not earned and therefore forfeited. Prior to the grant date, the share-based component expense is recorded as incentive compensation expense within personnel expenses in the Company’s consolidated statements of comprehensive income. Following the award, if any, of the related incentive payout, the share-based component expense is reclassified as stock compensation costs within personnel expenses and the share-based component of the accrued incentive compensation is reclassified as additional paid-in-capital upon the granting of the awards on the Company’s consolidated balance sheets. The Plans allow for payment to be made in both cash and share-based awards. The cash portion of the awards will not be subject to time-based vesting conditions and will be expensed during the performance year. The share-based portion of the awards is subject to a three-year time-based vesting schedule beginning on the first anniversary of the grant (which is made in the first calendar quarter of the subsequent year). As a result, the total expense for the share-based portion of the awards is recorded over the period from the beginning of the performance year through the vesting date, or 50 months.
Fair Value Measurement	ASC Topic 820, Fair Value Measurement
Contingencies	The Company is party to various litigation matters, in most cases involving ordinary course and routine claims incidental to its business. The Company cannot estimate with certainty its ultimate legal and financial liability with respect to any pending matters. In accordance with ASC Topic 450, Contingencies,

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Reconciliation of Company's Revenue Recognized Under Topic 606	The following table provides a reconciliation of the Company’s revenue recognized under Topic 606 to the Company’s consolidated revenues: Revenue Category Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Debt placement origination fees $ 65,508 $ 54,871 Investment advisory fees 61,432 47,523 Equity placement origination fees 16,667 14,081 Loan sales 359 592 Capital markets services revenue recognized under Topic 606 143,966 117,067 Loan servicing and loan performance fees 9,400 8,391 Capital markets services revenue 153,366 125,458 Interest on mortgage notes receivable 4,589 5,244 Other ( 1) 1,227 916 Total revenue $ 159,182 $ 131,618 (1)- Other revenues are recognized under Topic 606.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property Plant And Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consist of the following: March 31, December 31, 2019 2018 (in thousands) Furniture and equipment $ 8,327 $ 8,426 Computer equipment 1,759 1,759 Capitalized software costs 3,931 3,665 Leasehold improvements 23,297 21,065 Property and equipment, gross 37,314 34,915 Less accumulated depreciation and amortization (18,536 ) (17,719 ) Property and equipment, net $ 18,778 $ 17,196

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The Company’s goodwill at March 31, 2019 is summarized as follows (in thousands): Balance at December 31, 2018 $ 8,512 Additions through acquisitions — Foreign currency translation 69 Balance at March 31, 2019 $ 8,581
Summary of Intangible Assets	The Company’s intangible assets are summarized as follows: March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value (in thousands) Intangible assets: Mortgage servicing rights $ 120,198 $ (46,087 ) $ 74,111 $ 116,683 $ (43,039 ) $ 73,644 Other 671 (469 ) 202 940 (722 ) $ 218 Total intangible assets $ 120,869 $ (46,556 ) $ 74,313 $ 117,623 $ (43,761 ) $ 73,862
Changes in Carrying Value of Mortgage Servicing Rights	Changes in the carrying value of mortgage servicing rights for the three months ended March 31, 2019 and 2018, were as follows (dollars in thousands): Category December 31, 2018 Capitalized Amortized March 31, 2019 Freddie Mac $ 57,747 $ 4,509 $ (3,329 ) $ 58,927 CMBS 11,314 53 (752 ) 10,615 Life company 4,097 786 (749 ) 4,134 Life company – limited 486 46 (97 ) 435 Total $ 73,644 $ 5,394 $ (4,927 ) $ 74,111 Category December 31, 2017 Capitalized Amortized March 31, 2018 Freddie Mac $ 40,468 $ 6,284 $ (2,621 ) $ 44,131 CMBS 13,514 297 (903 ) 12,908 Life company 3,833 548 (665 ) 3,716 Life company – limited 668 90 (106 ) 652 Total $ 58,483 $ 7,219 $ (4,295 ) $ 61,407
Summary of Estimated Amortization Expense	Estimated amortization expense for the remainder of 2019 and the following four years is as follows (dollars in thousands): Remainder of 2019 $ 11,695 2020 13,632 2021 11,630 2022 9,913 2023 8,817

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Financial Assets Accounted at Fair Value on Recurring Basis	The following tables set forth the Company’s financial assets that were accounted for at fair value on a recurring basis by level within the fair value hierarchy as of March 31, 2019 and December 31, 2018 (in thousands): Recurring fair value measurements Fair Value Measurements Using: March 31, 2019 Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage notes receivable $ 966,694 $ — $ 966,694 $ — Total recurring fair value measurements $ 966,694 $ — $ 966,694 $ — Fair Value Measurements Using: December 31, 2018 Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage notes receivable $ 351,194 $ — $ 351,194 $ — Total recurring fair value measurements $ 351,194 $ — $ 351,194 $ —
Financial Assets Accounted at Fair Value on Nonrecurring Basis	The following table sets forth the Company’s financial assets that were accounted for at fair value on a nonrecurring basis by level within the fair value hierarchy as of March 31, 2019 and December 31, 2018 (in thousands): Nonrecurring fair value measurements: Fair Value Measurements Using: March 31, 2019 Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage servicing rights $ 74,111 $ — $ — $ 92,490 Total nonrecurring fair value measurements $ 74,111 $ — $ — $ 92,490 Fair Value Measurements Using: December 31, 2018 Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage servicing rights $ 73,644 $ — $ — $ 91,787 Total nonrecurring fair value measurements $ 73,644 $ — $ — $ 91,787
Significant Assumptions Utilized to Value Servicing Rights	The significant assumptions utilized to value servicing rights as of March 31, 2019 and December 31, 2018 are as follows: March 31, December 31, 2019 2018 Expected life of cash flows 3 years to 10 years 3 years to 10 years Discount rate (1) 10% to 16% 10% to 16% Prepayment rate 0% to 8% 0% to 8% Inflation rate 2% 2% Cost of service per loan $1,920 to $4,803 $1,920 to $4,743 (1) Reflects the time value of money and the risk of future cash flows related to the possible cancellation of servicing contracts, transferability restrictions on certain servicing contracts, concentration in the life company portfolio and large loan risk.

Lease Commitments (Tables)

Lease Commitments (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: March 31, 2019 (in thousands) Operating lease costs $ 2,541 Finance lease costs: Amortization of right-of-use assets 33 Interest on lease liabilities 1 Total finance lease costs $ 34
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: March 31, 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used by operating leases $ 3,056 Operating cash flows used by finance leases 1 Financing cash flows used by finance leases 33
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: March 31, 2019 (in thousands) Operating leases Operating lease right-of-use assets $ 34,970 Current portion of operating lease liabilities 9,397 Noncurrent operating lease liabilities 37,436 Total operating lease liabilities 46,833 Finance leases Property and equipment, at cost 1,089 Accumulated depreciation (970 ) Property and equipment, net 119 Current portion of long-term debt 79 Long-term debt, less current portion 52 Total finance lease liabilities 131 Weighted average remaining lease term Operating leases 5.8 years Finance leases 2.2 years Weighted average discount rate Operating leases 3.7 % Finance leases 2.2 %
Maturities of Lease Liabilities	Maturities of lease liabilities were as follows: Operating leases Finance leases (in thousands) Remainder of 2019 $ 8,067 $ 74 2020 10,279 51 2021 9,450 9 2022 7,545 7 2023 4,692 2 Thereafter 11,745 — Total lease payments $ 51,778 $ 143 Less imputed interest (4,945 ) (12 ) Total $ 46,833 $ 131

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Summary of Income Tax Expense Including Current and Deferred Taxes	Income tax expense includes current and deferred taxes as follows (dollars in thousands): Current Deferred Total Three Months Ended March 31, 2019: Federal $ — $ 4,391 $ 4,391 State 165 649 814 Foreign — 51 51 $ 165 $ 5,091 $ 5,256 Current Deferred Total Three Months Ended March 31, 2018: Federal $ — $ 1,390 $ 1,390 State 139 (380 ) (241 ) Foreign — (344 ) (344 ) $ 139 $ 666 $ 805
Summary of Reconciliation Between Income Tax Computed by Applying U.S. Federal Statutory Rate and Effective Tax Rate on Net Income	The reconciliation between the income tax computed by applying the U.S. federal statutory rate and the effective tax rate on net income is as follows for the three months ended March 31, 2019 and 2018 (dollars in thousands): March 31, 2019 2018 Income tax expense / (benefit) Rate Rate Taxes computed at federal rate $ 6,944 21.0 % $ 3,753 21.0 % State and local taxes, net of federal tax benefit 1,769 5.4 % 870 4.9 % Rate differential on non-US income (4 ) (0.0 )% (1 ) 0.0 % Effect of windfalls related to equity compensation (3,814 ) (11.5 )% (4,535 ) (25.4 )% Meals and entertainment 375 1.1 % 321 1.8 % Other (14 ) (0.1 )% 397 2.2 % Income tax expense $ 5,256 15.9 % $ 805 4.5 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Summary of Net Income and Weighted Average Shares Outstanding	The Company’s net income and weighted average shares outstanding for the three months ended March 31, 2019 and 2018 consist of the following: Three Months Ended March 31, 2019 2018 (in thousands, except per share data) Net income $ 27,810 $ 17,068 Weighted Average Shares Outstanding: Basic 39,680,505 39,041,492 Diluted 40,309,251 40,201,900
Summary of Calculations of Basic and Diluted Net Income per Share	Three Months Ended March 31, 2019 2018 (in thousands, except per share data) Basic Earnings Per Share of Class A Common Stock Numerator: Net income $ 27,810 $ 17,068 Denominator: Weighted average number of shares of Class A common stock outstanding 39,680,505 39,041,492 Basic earnings per share of Class A common stock $ 0.70 $ 0.44 Diluted Earnings Per Share of Class A Common Stock Numerator: Net income $ 27,810 $ 17,068 Denominator: Basic weighted average number of shares of Class A common stock 39,680,505 39,041,492 Add—dilutive effect of: Unvested restricted stock units 618,627 1,143,646 Stock options 10,119 16,762 Weighted average common shares outstanding — diluted 40,309,251 40,201,900 Diluted earnings per share of Class A common stock $ 0.69 $ 0.42

Organization and Basis of Pre_3

Organization and Basis of Presentation - Additional Information (Detail)	Mar. 18, 2019USD ($)$ / shares	Mar. 31, 2019USD ($)$ / sharesOfficeshares	Jan. 01, 2019USD ($)	Dec. 31, 2018$ / sharesshares
Class of Stock [Line Items]
Common stock, shares issued | shares		39,857,514		39,143,253
Common stock, par value | $ / shares		$ 0.01		$ 0.01
Operating lease right-of-use asset		$ 34,970,000
Lease liability		$ 46,833,000
Accounting Standards Update 2016-02 [Member]
Class of Stock [Line Items]
Operating lease term			12 months
Operating lease right-of-use asset			$ 37,000,000
Lease liability			$ 49,400,000
Maximum [Member]
Class of Stock [Line Items]
Operating lease term		11 years
Minimum [Member]
Class of Stock [Line Items]
Operating lease term		3 years
Class A Common Stock [Member]
Class of Stock [Line Items]
Common stock, par value | $ / shares		$ 0.01
Jones Lang LaSalle Incorporated [Member]
Class of Stock [Line Items]
Common stock, par value | $ / shares	$ 0.01
Stock conversion per share in cash | $ / shares	$ 24.63
Conversion of common stock	0.1505
Jones Lang LaSalle Incorporated [Member] | Termination Condition One [Member]
Class of Stock [Line Items]
Termination fee	$ 54,000,000
Termination period	12 months
Merger agreement termination description		The Company must pay Parent a termination fee of $54,000,000 if the Merger Agreement is terminated under certain specified circumstances, including (i) following a failure by the Company to obtain the requisite stockholder approval if the Company enters into a transaction with respect to a Company Competing Proposal (as defined in the Merger Agreement) within 12 months of such termination, (ii) if Parent terminates the Merger Agreement following a change of recommendation, (iii) if the Company terminates the Merger Agreement to enter into a Company Superior Proposal (as defined in the Merger Agreement) or (iv) if the Company has committed a material breach of the restrictions regarding dealing with third parties.
Jones Lang LaSalle Incorporated [Member] | Termination Condition Three [Member]
Class of Stock [Line Items]
Termination fee	$ 75,000,000
Merger agreement termination description		Parent must pay the Company a termination fee of $75,000,000 if the Merger Agreement is terminated under certain specified circumstances, including (i) as a result of a judgment or other legal prohibition or restraint arising under the antitrust laws, and solely in such case, as of the date of such termination, all of the conditions other than antitrust-related conditions have been satisfied or waived other than those conditions that by their nature are only capable of being satisfied at the closing and (ii) if, upon reaching the 9-month anniversary of the Merger Agreement (which may be extended by up to 6 months under certain circumstances), the Company or Parent terminates the Merger Agreement and all of the conditions other than approval under the antitrust laws have been satisfied or waived at such time, other than conditions that by their nature would be satisfied if the closing and the closing date had occurred on the date of such termination.
Jones Lang LaSalle Incorporated [Member] | Termination Condition Three [Member] | Maximum [Member]
Class of Stock [Line Items]
Termination period	6 months
IPO [Member] | HFF Holdings [Member]
Class of Stock [Line Items]
Percentage of shares purchase from Partners		45.00%
Common stock, shares issued | shares		1
United States [Member]
Class of Stock [Line Items]
Number of offices | Office		25
London, United Kingdom [Member]
Class of Stock [Line Items]
Number of offices | Office		1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Summary of Reconciliation of Company's Revenue Recognized Under Topic 606 (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Capital Markets Services Revenue recognized under Topic 606	$ 143,966	$ 117,067
Loan servicing and loan performance fees	9,400	8,391
Revenues	159,182	131,618
Debt Placement Origination Fees [Member]
Disaggregation of Revenue [Line Items]
Capital Markets Services Revenue recognized under Topic 606	65,508	54,871
Investment Advisory Fees [Member]
Disaggregation of Revenue [Line Items]
Capital Markets Services Revenue recognized under Topic 606	61,432	47,523
Equity Placement Origination Fees [Member]
Disaggregation of Revenue [Line Items]
Capital Markets Services Revenue recognized under Topic 606	16,667	14,081
Loan Sales [Member]
Disaggregation of Revenue [Line Items]
Capital Markets Services Revenue recognized under Topic 606	359	592
Capital Markets Services [Member]
Disaggregation of Revenue [Line Items]
Revenues	153,366	125,458
Interest on Mortgage Notes Receivable [Member]
Disaggregation of Revenue [Line Items]
Revenues	4,589	5,244
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 1,227	$ 916

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019
Office and Firm Profit Participation Plans [Member]
Summary Of Significant Accounting Policies [Line Items]
Vesting period	50 months

Stock Compensation - Additional

Stock Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation cost	$ 5,850	$ 5,752
Unrecognized compensation cost related to non-vested restricted stock units	$ 53,900
Weighted average contractual term	2 years 8 months 12 days
Restricted stock units outstanding	1,951,716
Number of stock units with continued vesting requirements	1,783,355
Options, Granted	0
Options, Vested	0
Options, Forfeited	0
Options, Exercised	0
Restricted stock units, Granted	755,823
Restricted stock units vested	1,053,742
Restricted stock units outstanding, Converted to common stock	1,044,669
Restricted stock units, forfeited	51,006
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock units	$ 11,400

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 37,314	$ 34,915
Less accumulated depreciation and amortization	(18,536)	(17,719)
Property and equipment, net	18,778	17,196
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,327	8,426
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,759	1,759
Capitalized Software Costs [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,931	3,665
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 23,297	$ 21,065

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Accumulated amortization	$ 33
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Finance leased office equipment recorded in furniture and equipment	1,100	$ 1,200
Accumulated amortization	$ 1,000	$ 1,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Changes in Goodwill (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 8,512
Additions through acquisitions	0
Foreign currency translation	69
Ending Balance	$ 8,581

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Total intangible assets Gross Carrying Amount	$ 120,869	$ 117,623
Total intangible assets Accumulated Amortization	(46,556)	(43,761)
Total intangible assets Accumulated Amortization	74,313	73,862
Mortgage Servicing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets Gross Carrying Amount	120,198	116,683
Total intangible assets Accumulated Amortization	(46,087)	(43,039)
Total intangible assets Accumulated Amortization	74,111	73,644
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets Gross Carrying Amount	671	940
Total intangible assets Accumulated Amortization	(469)	(722)
Total intangible assets Accumulated Amortization	$ 202	$ 218

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	Jan. 01, 2007	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Commercial loans serviced by the Company		$ 82,900,000,000		$ 81,200,000,000
Servicing fees earned		9,400,000	$ 8,400,000
Mortgage servicing rights		74,313,000		73,862,000
Loan served for mortgage servicing rights		82,100,000,000		80,300,000,000
Initial consideration paid	$ 0
Amortization expenses		$ 4,944,000	4,381,000
Weighted-average life of mortgage servicing rights		6 years 7 months 6 days
Freddie Mac [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights retained upon sale		$ 4,500,000	6,300,000
Originated loans, net		700,000,000	1,300,000,000
CMBS [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights acquired without exchange of initial consideration		900,000	900,000
Life Company Tranches [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights acquired without exchange of initial consideration		2,600,000,000	2,900,000,000
Interest and Other Income, Net [Member] | Freddie Mac [Member]
Finite-Lived Intangible Assets [Line Items]
Securitization compensation received		2,900,000	$ 4,900,000
Mortgage Servicing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Mortgage servicing rights		$ 74,111,000		$ 73,644,000

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Changes in Carrying Value of Mortgage Servicing Rights (Detail) - Mortgage Servicing Rights [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Opening Balance	$ 73,644	$ 58,483
Capitalized	5,394	7,219
Amortized	(4,927)	(4,295)
Closing Balance	74,111	61,407
Freddie Mac [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	57,747	40,468
Capitalized	4,509	6,284
Amortized	(3,329)	(2,621)
Closing Balance	58,927	44,131
CMBS [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	11,314	13,514
Capitalized	53	297
Amortized	(752)	(903)
Closing Balance	10,615	12,908
Life Company [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	4,097	3,833
Capitalized	786	548
Amortized	(749)	(665)
Closing Balance	4,134	3,716
Life Company - Limited [Member]
Finite-Lived Intangible Assets [Line Items]
Opening Balance	486	668
Capitalized	46	90
Amortized	(97)	(106)
Closing Balance	$ 435	$ 652

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Summary of Estimated Amortization Expense (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Remainder of 2019	$ 11,695
2020	13,632
2021	11,630
2022	9,913
2023	$ 8,817

Fair Value Measurement - Financ

Fair Value Measurement - Financial Assets Accounted at Fair Value on Recurring Basis (Detail) - Recurring Fair Value Measurements [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	$ 966,694	$ 351,194
Recurring fair value measurements	966,694	351,194
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage notes receivable	966,694	351,194
Recurring fair value measurements	$ 966,694	$ 351,194

Fair Value Measurement - Fina_2

Fair Value Measurement - Financial Assets Accounted at Fair Value on Nonrecurring Basis (Detail) - Nonrecurring Fair Value Measurements [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	$ 74,111	$ 73,644
Nonrecurring fair value measurements	74,111	73,644
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	92,490	91,787
Nonrecurring fair value measurements	$ 92,490	$ 91,787

Fair Value Measurement - Signif

Fair Value Measurement - Significant Assumptions Utilized to Value Servicing Rights (Detail)	Mar. 31, 2019USD ($)Year	Dec. 31, 2018USD ($)Year
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost of service per loan	$ 82,900,000,000	$ 81,200,000,000
Mortgage Servicing Rights [Member] | Inflation Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing right rate	0.02	0.02
Mortgage Servicing Rights [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost of service per loan	$ 1,920	$ 1,920
Mortgage Servicing Rights [Member] | Minimum [Member] | Expected Life of Cash Flows [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing right rate | Year	3	3
Mortgage Servicing Rights [Member] | Minimum [Member] | Discount Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing right rate	0.10	0.10
Mortgage Servicing Rights [Member] | Minimum [Member] | Prepayment Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing right rate	0	0
Mortgage Servicing Rights [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost of service per loan	$ 4,803	$ 4,743
Mortgage Servicing Rights [Member] | Maximum [Member] | Expected Life of Cash Flows [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing right rate | Year	10	10
Mortgage Servicing Rights [Member] | Maximum [Member] | Discount Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing right rate	0.16	0.16
Mortgage Servicing Rights [Member] | Maximum [Member] | Prepayment Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing right rate	0.08	0.08

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Risk Transfer Agreement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment redemption value	$ 25
Agreement term	3 years
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in securities held to maturity	$ 25

Securities Held-to-Maturity - A

Securities Held-to-Maturity - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Jul. 02, 2018
Other Noncurrent Assets [Member]
Marketable Securities [Line Items]
Collateral deposits	$ 3.7
M&T Realty Capital Corporation [Member]
Marketable Securities [Line Items]
Risk transfer joint venture investment in redeemable preferred stock		$ 25

Warehouse Line of Credit - Addi

Warehouse Line of Credit - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019USD ($)Warehouse_Line_of_Credit	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)
Line of Credit Facility [Line Items]
Number of warehouse line of credit facilities | Warehouse_Line_of_Credit	2
Warehouse line of credit outstanding amount	$ 961,300,000	$ 348,400,000
Line of credit interest rate at the end of the period	2.49%	2.50%
LIBOR rate duration period	30-day
Line of credit interest rate description	Interest on the warehouse lines of credit is at the 30-day LIBOR rate (2.49% and 2.50% at March 31, 2019 and December 31, 2018, respectively) plus a spread. HFF LP is also paid interest on the mortgage note receivable secured by a multifamily loan at the rate in the Freddie Mac note.
PNC Bank, N.A. [Member]
Line of Credit Facility [Line Items]
Uncommitted financing arrangement	$ 600,000,000
Maximum capacity	$ 1,000,000,000		$ 600,000,000
Description of uncommitted amount	The PNC arrangement was amended during the first quarter of 2018 to increase the maximum capacity from $600 million to $1.0 billion.
Huntington Bank [Member] | Temporary Increase To Line Of Credit [Member]
Line of Credit Facility [Line Items]
Uncommitted financing arrangement	$ 150,000,000
Maximum uncommitted financing arrangement	$ 175,000,000
Frequency of temporary increases | Warehouse_Line_of_Credit	3
Maximum uncommitted financing arrangement expiration period	45 days

Lease Commitments - Additional

Lease Commitments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Lessee Lease Description [Line Items]
Operating lease, right-of-use assets obtained in exchange for lease obligations	$ 0
Finance lease, right-of-use assets obtained in exchange for lease obligations	0
Total rental expense	$ 3,500,000	$ 3,200,000
Minimum [Member]
Lessee Lease Description [Line Items]
Operating leases, initial term	3 years
Financing leases, initial term	3 years
Option to reduced operating and financing leases terms	2 years
Maximum [Member]
Lessee Lease Description [Line Items]
Operating leases, initial term	11 years
Financing leases, initial term	11 years
Operating leases, options to extend leases term	6 years
Financing leases, options to extend leases term	6 years
Option to reduced operating and financing leases terms	8 years

Lease Commitments - Components

Lease Commitments - Components of Lease Expense (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease costs	$ 2,541
Finance lease costs:
Amortization of right-of-use assets	33
Interest on lease liabilities	1
Total finance lease costs	$ 34

Lease Commitments - Supplementa

Lease Commitments - Supplemental Cash Flow Information Related to Leases (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used by operating leases	$ 3,056
Operating cash flows used by finance leases	1
Financing cash flows used by finance leases	$ 33

Lease Commitments - Supplemen_2

Lease Commitments - Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Operating leases
Operating lease right-of-use asset	$ 34,970
Current portion of operating lease liabilities	9,397
Noncurrent operating lease liabilities	37,436
Total operating lease liabilities	46,833
Finance leases
Property and equipment, at cost	1,089
Accumulated depreciation	(970)
Property and equipment, net	119
Current portion of long-term debt	79	$ 3,898
Long-term debt, less current portion	52	$ 66
Total finance lease liabilities	$ 131
Weighted average remaining lease term
Operating leases	5 years 9 months 18 days
Finance leases	2 years 2 months 12 days
Weighted average discount rate
Operating leases	3.70%
Finance leases	2.20%

Lease Commitments - Maturities

Lease Commitments - Maturities of Lease Liabilities (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating leases, Remainder of 2019	$ 8,067
Operating leases, 2020	10,279
Operating leases, 2021	9,450
Operating leases, 2022	7,545
Operating leases, 2023	4,692
Operating leases, Thereafter	11,745
Operating leases, Total lease payments	51,778
Operating leases, Less imputed interest	(4,945)
Operating leases, Total	46,833
Finance leases, Remainder of 2019	74
Finance leases, 2020	51
Finance leases, 2021	9
Finance leases, 2022	7
Finance leases, 2023	2
Finance leases, Total lease payments	143
Finance leases, Less imputed interest	(12)
Finance leases, Total	$ 131

Servicing - Additional Informat

Servicing - Additional Information (Detail) - USD ($) $ in Billions	Mar. 31, 2019	Dec. 31, 2018
Transfers And Servicing [Abstract]
Unpaid principal balance of servicing portfolio of commercial real estate loan	$ 82.9	$ 81.2

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense Including Current and Deferred Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Current Federal Tax	$ 0	$ 0
State Current Tax	165	139
Foreign Current Tax	0	0
Federal and State Current Total	165	139
Federal Deferred Tax	4,391	1,390
State Deferred Tax	649	(380)
Foreign Deferred tax	51	(344)
Federal and State Deferred Total	5,091	666
Federal Current and Deferred Total	4,391	1,390
State Current and Deferred Total	814	(241)
Foreign Current and Deferred Total	51	(344)
Income tax expense	$ 5,256	$ 805

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation Between Income Tax Computed by Applying U.S. Federal Statutory Rate and Effective Tax Rate on Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Taxes computed at federal rate	$ 6,944	$ 3,753
State and local taxes, net of federal tax benefit	1,769	870
Rate differential on non-US income	(4)	(1)
Effect of windfalls related to equity compensation	(3,814)	(4,535)
Meals and entertainment	375	321
Other	(14)	397
Income tax expense	$ 5,256	$ 805
Taxes computed at federal rate, Percentage	21.00%	21.00%
State and local taxes, net of federal tax benefit, Percentage	5.40%	4.90%
Rate differential on non-US income, Percentage	0.00%	0.00%
Effect of windfalls related to equity compensation	(11.50%)	(25.40%)
Meals and entertainment, Percentage	1.10%	1.80%
Other, Percentage	(0.10%)	2.20%
Income tax expense, Total Percentage	15.90%	4.50%

Stockholders Equity - Additiona

Stockholders Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Feb. 27, 2019	Feb. 11, 2019	Jan. 31, 2019	Feb. 21, 2018	Feb. 09, 2018	Jan. 26, 2018	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Class of Stock [Line Items]
Common stock, shares authorized							175,000,000		175,000,000
Common stock, par value							$ 0.01		$ 0.01
Voting rights per common stock							one
Common stock, shares issued							39,857,514		39,143,253
Special cash dividend			$ 1.75			$ 1.75
Dividends payable, date of record			Feb. 11, 2019			Feb. 9, 2018
Dividends payable, declaration date			Jan. 31, 2019			Jan. 26, 2018
Dividends payable, payment date			Feb. 27, 2019			Feb. 21, 2018
Aggregate dividend paid	$ 68,700			$ 67,800			$ 68,721	$ 67,772
Restricted Stock Units [Member]
Class of Stock [Line Items]
Restricted stock granted for unvested and vested but not issued		79,324			79,387

Earnings Per Share - Summary of

Earnings Per Share - Summary of Net Income and Weighted Average Shares Outstanding (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net income	$ 27,810	$ 17,068
Weighted Average Shares Outstanding:
Basic	39,680,505	39,041,492
Diluted	40,309,251	40,201,900

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Restricted stock units included in weighted average shares	239,375	218,702

Earnings Per Share - Summary _2

Earnings Per Share - Summary of Calculations of Basic and Diluted Net Income per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Basic Earnings Per Share of Class A Common Stock, Numerator:
Net income	$ 27,810	$ 17,068
Basic Earnings Per Share of Class A Common Stock, Denominator:
Basic weighted average number of shares of Class A common stock	39,680,505	39,041,492
Basic earnings per share of Class A common stock	$ 0.70	$ 0.44
Diluted Earnings Per Share of Class A Common Stock, Numerator:
Net income	$ 27,810	$ 17,068
Diluted Earnings Per Share of Class A Common Stock, Denominator:
Basic weighted average number of shares of Class A common stock	39,680,505	39,041,492
Add—dilutive effect of:
Weighted average common shares outstanding — diluted	40,309,251	40,201,900
Diluted earnings per share of Class A common stock	$ 0.69	$ 0.42
Restricted Stock Units [Member]
Add—dilutive effect of:
Units or options	618,627	1,143,646
Stock Options [Member]
Add—dilutive effect of:
Units or options	10,119	16,762

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019
Related Party Transaction [Line Items]
Percentage of retained cash savings in income tax	15.00%
Tax Receivable Agreement [Member] | HFF Holdings [Member]
Related Party Transaction [Line Items]
Percentage of cash savings payable	85.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2019
M&T Realty Capital Corporation [Member]
Summary Of Commitments And Contingent Liabilities [Line Items]
Loss exposure cap, percentage	33.33%
Quantifiable loss exposure associated with indemnification obligation	$ 123,800,000
Unpaid principal balances	371,500,000
Losses under arrangement	0
Guarantee obligations, noncurrent	600,000
Loan performance fee right, noncurrent	$ 600,000
HFF Holdings [Member] | Tax Receivable Agreement [Member]
Summary Of Commitments And Contingent Liabilities [Line Items]
Percentage of cash savings payable	85.00%
Payable under tax receivable agreement	$ 50,300,000
HFF Holdings [Member] | Tax Receivable Agreement [Member] | Scenario, Forecast [Member]
Summary Of Commitments And Contingent Liabilities [Line Items]
Payment to HFF holding		$ 8,300,000