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WASHINGTON, DC-Jones Lang LaSalle is introducing a new five-pronged service focusing on value asset and recovery–a big interest, not surprisingly, in the current environment. A critical piece of this offering–Public Sector Financial Assistance–will be leveraging JLL’s DC presence as it values assets that come through the Treasury Department’s Troubled Assets Relief Program.

This part of the service will provide valuations, asset management services and disposition services to assist the government in maximizing value from securities and assets acquired from failed financial institutions, the company says. JLL applied to be a whole loan advisor under TARP a few weeks ago, Jere Lucey, managing director, JLL, tells GlobeSt.com. Treasury has not responded to any of the RFPs yet.

The other parts of the offering–Financial Institution Occupancy Services, Financial Institution Investment Advisory and Distressed Property Receivership Services–will be staffed from various JLL offices around the country and will focus on the various aspects of the financial realignment that is occurring.

“The needs of our clients have changed,” Lucey explains. More fundamentally, he adds, to a large degree its actual clients have changed. “Before, we would be engaged to raise capital–now we are being engaged by financial institutions to sell assets.” Lucey notes that JLL has always done business with financial institutions, adding a caveat, “but typically we would show them investment opportunities; now we are helping them with disposition or resolution of those assets.”

Other elements of the offering include:

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