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News Release

MIPIM, Cannes & Amsterdam

Jones Lang LaSalle Netherlands Holds First “Combined” Commercial Property Auction in Continental Europe

First Jones Lang LaSalle Netherlands Auction Raises €17 million

Amsterdam & MIPIM, Cannes, 16th March 2010 - Jones Lang LaSalle Netherlands has held its first commercial property auction, the first property consultant in Continental Europe to hold a “combined” commercial property auction, meaning an auction where investors can bid in the room as well as online and via telephone. The auction attracted ‘forced’ sales but also regular sales from investors who have decided that the auction room is the best channel to dispose of their real estate holdings. The initiative is the result of a considerable requirement within the Dutch market for transparent and low-threshold auction processes for commercial property; a requirement confirmed by the success of the first Jones Lang LaSalle auction, which raised approximately € 17 million.
Marijn Snijders, Chairman of Jones Lang LaSalle Netherlands, explained: “In the wake of the global financial crisis and the economic recession, our 'combined' auctions appear to be a perfect response to a market need. This was confirmed by the considerable interest generated by this commercial property auction. The Internet played an important role and we anticipate this to become increasingly important in the future, as more property owners chose to sell via this kind of auction. At the moment the Internet is principally used to provide information and marketing materials, but we expect it to be possible, in due course, to convert our auction system into an online system.” 
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Notes to Editors

Jones Lang LaSalle Netherlands is commissioned by mortgage banks and receivers to arrange forced sales processes and sales under execution of commercial property via the Insolvency & Auctions department. This department's activities consist of a variety of projects such as investment portfolios of residential or commercial property, as well as office and industrial objects. Nard Schuddebeurs - Insolvency and Auctions Director - is the director of this department. Jones Lang LaSalle Netherlands is planning its next combined commercial property auction for June.