"Since 1994, ORIX and Jones Lang LaSalle have been involved as joint venture partners on nine office, industrial and retail development projects totaling nearly 1 million sf, valued at $150 million, and representing about 10% of ORIX's overall real estate development business during that period," says Orix president and chief executive officer James H. Purinton. "The 12 Jones Lang LaSalle employees transferring to ORIX are seasoned development professionals with a book of business already in house and established relationships with pension funds and other investors in real estate."
The two companies say they will continue to work together – Orix as the preferred build-to-suit developer for Jones Lang LaSalle, and Jones Lang LaSalle as transaction experts for Orix.
"We value our relationship with ORIX and welcome the opportunity to provide leasing, management and capital markets services as a preferred provider on development projects," says Earl Webb, chief executive officer of Jones Lang LaSalle for the Americas.
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