Property services firm Larry Smith Italia said that it has entered into a partnership agreement with Agents And Advisors (AAA) to provide retail real estate services in the Baltic states.

Property services firm Larry Smith Italia said that it has entered into a partnership agreement with Agents And Advisors (AAA) to provide retail real estate services in the Baltic states.

Larry Smith said that the agreement 'represents another step towards its strategy to expand in new markets'. Larry Smith's activity in the Baltic states will be focusing on providing consultancy services, especially in property management, and providing services to European investors and retailers looking for expansion in the Baltic market.

AAA is a well experienced real estate consultancy group operating in Latvia and the Baltics and focusing on project development and operational planning. According to Larry Smith, the new joint venture with AAA will help the company to find its way in a market which is 'very diverse, with many different concepts, both modern and traditional'.

'Despite the current economic downturn we expect that recovery in the Baltic market will occur at a high speed and that interesting opportunities may arise both in terms of development and investment on new retail facilities,' said Christian Recalcati, managing director of Larry Smith.

The expansion into the Baltics 'is an attempt to anticipate economy recovery [in the region] and help major players in creating and developing new projects, or improving existing ones in the Baltic area,' he added.