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Seattle

Jones Lang LaSalle Adds Two Multifamily Experts to Seattle Practic

Corey Marx and Seth Heikkila join as vice presidents


SEATTLE, JAN. 28, 2010 — Jones Lang LaSalle announced today that it has bolstered its multifamily investment sales practice with the hiring of Corey Marx and Seth Heikkila in Seattle.  Marx and Heikkila have joined the firm as vice presidents and will partner with managing director David Young to expand the firm’s presence in one of the top apartment markets in the country. 

“The hiring of Corey and Seth are yet another indication of the emphasis Jones Lang LaSalle is placing on the West Coast and the Northwest in particular as part of our capital markets expansion,” said Jubeen Vaghefi, managing director and leader of the firm’s national multifamily investment sales practice.

Adds Young, “As Jones Lang LaSalle makes inroads into the multifamily market in Seattle, Corey and Seth will be a critical addition to the firm.  Their proven track record here in the Puget Sound is incomparable and I have no doubt they will make an immediate impact for our clients.”

Gary Danklefsen, head of Jones Lang LaSalle's Pacific Northwest operations said that although transaction activity has been greatly reduced throughout the real estate industry in recent years, there is a growing consensus nationally that a log jam may finally be breaking later this year, beginning with the multi-family investment property area.  "We intend to lead that trend in this region over the next few years," he said.  Danklefsen added that Jones Lang LaSalle already has a deep bench in the industrial and corporate services sector here and has been actively expanding its capabilities through key hires of specialized talent like Corey Marx, Seth Heikkila, as well as the recent hire of David Young to lead this team.

Corey Marx is an alumnus from the University of Washington and in addition to his commercial real estate experience has held several marketing and management positions with Seattle firms.  He also co-founded an organization called “Just Cauz” that raises money and promotes awareness for local and international nonprofits, raising more than $200,000 in the last five years.  Seth Heikkila received his bachelors of arts in economics from Princeton University and has extensive financial experience with Fortune 500 firms in Seattle.

Jones Lang LaSalle Capital Markets is composed of a broad range of real estate investment debt and equity specialists, and corporate finance experts, working on all property types and in all the major national markets on behalf of major institutional and local investors and developers, as well as corporations.  The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs.   The Investment Sales teams assist investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product. The firm’s Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide derivatives structuring and loan sale advisory services.  The Corporate Capital Markets professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios.  The Development and Asset Strategy team specializes in the sale of non-income-producing properties in their various forms from vacant buildings to raw land to entitled parcels and partially completed subdivisions.  The firm's Value Recovery Services assist clients affected by the current financial crisis by creating value while managing risks through evaluating operational and occupancy needs, assisting with challenged assets and liabilities on their balance sheets, providing receivership services, asset management, raising capital through sales-leasebacks and providing leasing and recapitalization strategies for distressed assets. In the past two years, the firm’s Capital Markets team handled $117 billion of transaction volume.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $37 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.
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