"Mexico is an increasingly important market for many of ourclients, which is a key reason why we are focusing on building ourpresence there," Schaff explains. "With the new team in place, weplan to consolidate our strong Mexico platform to grow ourinvestment management business into Latin America." LIM's parent,Jones Lang LaSalle, already has an established group in Mexico, andSchaff says the two entities will "work closely" together toprovide a full-spectrum of real estate services.

Overseeing $39.5 billion in public and private real estateassets, LIM has 525 professionals worldwide. The Chicago-based firmhas previously participated in select Mexican real estate ventures,but Schaff says that improving property fundamentals and a growingeconomy justify the wider coverage. Mexico City was among a dozenmarkets compiled in an LIM list last month as among the morepromising global enclaves, joining such heavyweights as Hong Kong,London, Paris and Tokyo. Office rents have increased by 5% inMexico City during the past year, LIM says in the review, opiningthat the market is finally recovering from a period ofoversupply.

Also listed in the dozen cities were New York City and SaoPaolo, Brazil, demonstrating LIM's confidence in the Americas as awhole for real estate investment. The firm has also been supportiveof buying into the Canadian real estate arena. North Americancountries beyond the United States are poised to benefit fromincreased trade and polices such as Nafta, according to LIM, whichanticipates better times ahead in such Mexican markets as Monterreyand Maquiladora.