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

Overseeing $39.5 billion in public and private real estate assets, LIM has 525 professionals worldwide. The Chicago-based firm has previously participated in select Mexican real estate ventures, but Schaff says that improving property fundamentals and a growing economy justify the wider coverage. Mexico City was among a dozen markets compiled in an LIM list last month as among the more promising global enclaves, joining such heavyweights as Hong Kong, London, Paris and Tokyo. Office rents have increased by 5% in Mexico City during the past year, LIM says in the review, opining that the market is finally recovering from a period of oversupply.

Also listed in the dozen cities were New York City and Sao Paolo, Brazil, demonstrating LIM's confidence in the Americas as a whole for real estate investment. The firm has also been supportive of buying into the Canadian real estate arena. North American countries beyond the United States are poised to benefit from increased trade and polices such as Nafta, according to LIM, which anticipates better times ahead in such Mexican markets as Monterrey and Maquiladora.