Jones Lang LaSalle Inc. announced this month that it has merged operations with real estate services firm Pacific Real Estate Partners Inc. Pacific was founded in 1992, and has offices in Seattle, Bellevue and Portland. Chicago-based Jones Lang LaSalle, which has more than 200 offices around the world, entered the Northwest market in 1995 according to the Seattle Times. Financial terms of the acquisition were not disclosed.
"The merger of Jones Lang LaSalle and Pacific Real Estate Partners was driven by client demand for broader and deeper services, as well as the anticipated growth of the Pacific Northwest," said Elizabeth Hearle, Northwest Market Director, Jones Lang LaSalle. "While this is a mutually beneficial merger for Pacific Real Estate Partners and Jones Lang LaSalle, the real beneficiaries are our clients who will now have access to a broader platform and local market expertise from a firm that is the clear leader in the market."
"By leveraging our strong combined capital markets and leasing capabilities, we will have the opportunity to expand our services, with a focus on property management. This will create a powerful and differentiated firm with growth potential that benefits Jones Lang LaSalle, Pacific Real Estate Partners and both firms' clients," said Hearle, who will continue to serve as the Market Director for the Pacific Northwest Region.
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