"The Joint Venture makes sense because Mohr Partners and AsiaPac are two of only a handful of companies worldwide that represent tenants solely, not landlords," said Pat Moultrup, president and CEO, AsiaPac International in a prepared statement. "We both believe that conflicts of interest arise when firms represent both tenants and landlords. It has become increasingly apparent that clients want tenant-only representation, but they want it globally."

A spokeswoman with locally based Mohr Partners tells GlobeSt.com that the new arrangement means Mohr Partners will receive assignments in North America from AsiaPac as the need arises. Meanwhile, if any of Mohr Partners' clients have overseas needs, AsiaPac will step in and handle those. "This is strengthening an alliance we already had," the spokeswoman adds. "This makes a stronger union, with a joint venture agreement."

"We just realized there was some much commonality in what we (Mohr and AsiaPac) were doing, it didn't make sense for us to look for different global providers in different parts of the world," said Ted Fredericks, Mohr Partners president in a press release announcing the partnership. "Our mission statement and goals and objectives are very well aligned."

Mohr Partners and AsiaPac teamed up in 2003, and for the past several years, AsiaPac delivered corporate real estate services outside the United States for the international portion of Mohr's clients' portfolios. The new agreement now means that AsiaPac will send referrals to Mohr Partners, as Mohr Partners has been doing for AsiaPac.

But the partnership doesn't mean a handoff depending on geography, the spokeswoman says. Both companies will work with the clients, no matter what part of the world is involved. "We're partners on everything," she adds.