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VILNIUS, LITHUANIA-Continuing to broaden its platform into emerging areas of Europe, Jones Lang LaSalle has teamed up with a financial and real estate services firm established throughout the Baltic region. Re&Solution has offices here in the Lithuanian capital, and in such countries as Estonia, Latvia and the Ukraine, possessing the ground-level knowledge vital to success for cross-border investors and for multi-national firms seeking commercial space to occupy, according to JLL international director Tony Horrell.

“Working with Re&Solution, we can provide in-depth local understanding to give our clients a competitive edge in these growing markets,” says Horrell, CEO of JLL’s European Capital Markets group. While only founded in 2003, Re&Solution’s executives have decades of experience in the Baltics, and in the past two years alone, the firm has provided advisory services on transactions in those countries totaling $280 million.

The partnership connects Re&Solution with one of the world’s leading commercial real estate organizations, and Re&Solution chairman Lau Melchiorsen says he believes the arrangement “will enable us to realize new opportunities for investors, corporations and developers” by enhancing the company’s core strengths. “We are in a very active market and are excited about the opportunities that our alliance can bring,” says Melchiorsen, whose company employs 50 industry professionals.

Many parts of the Baltics are enjoying a sustained boom, and JLL says clients are eager to take advantage of the activity, either by servicing consumers and other businesses, or by providing capital for construction of modern industrial, multifamily, office and retail space. A multi-cultural metropolis of 850,000 people, Vilnius has been among the better performers economically this decade, relying on such industries as financial services, insurance and tourism, a source drawn by the city’s old-world architecture. Select markets in Estonia, Latvia and the Ukraine are also providing attractive opportunities, according to Horrell, who predicts Re&Solution will enable the firm to tap into hidden gems. JLL is already prevalent throughout Europe, and operates globally in more than 50 countries and 450 municipalities.

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