(Read more on the debt and equity markets.)

LOS ANGELES-Chicago-based Jones Lang LaSalle has acquired locally based Zietsman Realty Partners Inc., a real estate investment banking firm headed by Michael Zietsman, in a move designed to augment the Chicago firm’s growing capital markets group. Zietsman has become a managing director of Jones Lang LaSalle, located in the firm’s Los Angeles office, with Zietsman and the other professionals of his firm now operating as part of JLL’s capital markets group.

Zietsman has more than 23 years of experience and more than $8 billion of direct transaction experience with asset sales, joint ventures and financings. Jones Lang LaSalle says that the acquisition adds to its capabilities by bringing on “a team with strong relationships and a reputation for arranging complex office, retail and multifamily transactions involving institutional quality properties.”

Earl Webb, chief executive officer of Jones Lang LaSalle’s capital markets group, says that the acquisition reflects a strategy designed to gain a capital markets leadership position in the firm’s top markets and to improve the level of service to clients. In the past 12 months, Jones Lang LaSalle has added 27 senior capital markets experts throughout the nation including 11 to the West Coast team, among them the Zietsman team.

Zietsman will be responsible for advancing the firm’s growth strategy and will execute asset sales and capitalizations of institutional quality commercial real estate throughout the nation. He will partner with David Doupé, Larry Krasner, Alex Quintana and Michel Seifer, Jones Lang LaSalle’s managing directors of the capital markets group on the West Coast.

Zietsman formed Zietsman Realty Partners in 2004. Before building his own firm, he was a managing director of Lehman Bros.’ global investment banking group responsible for the real estate asset sale business and for asset-level debt and equity financing.

From 1983 to 2000, Zietsman held various positions at Jones Lang LaSalle/Jones Lang Wootton, including a two-year term with Jones Lang Wootton’s Tokyo office, and subsequent leadership of the firm’s capital markets business on the West Coast. Financial terms of the acquisition were not disclosed.

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