UPDATE 1-DEALTALK-US Real estate services cos on buying spree

(For more Reuters columns on deals, click [DEALTALK/]) (Adds details of ECD acquisition)

By Ilaina Jonas

NEW YORK, July 11 (Reuters) - Real estate services companies are buying each other even as the global credit crisis slows merger and acquisition activity in other sectors of the U.S economy.

The firms, which help global companies locate, own, rent, buy and manage their real estate properties, also manage funds for investors in commercial real estate.

Unlike other sectors, they have been able to keep up M&A activity because of the nature of their business, the compensation structure of the industry and the credit crunch, which has greased the acquisition wheels.

Jones Lang LaSalle Inc (JLL.N) closed on a $613 million deal on Friday for tenant representation firm The Staubach Co., founded by football legend Roger Staubach and, in a smaller deal, bought green technology company ECD Energy and Environment Canada on July 7.

So far this year, Jones Lang has acquired 11 companies, mostly outside the United States, versus 13 for all of 2007. Industry leader CB Richard Ellis Group Inc (CBG.N) has acquired 12, compared with 14 in all of last year. Privately held Cushman & Wakefield has snatched up five, compared with eight last year.

The sector remains highly fragmented with the top four players accounting for just about 21 percent of the industry, as of the end of the second quarter.

"What you're seeing is occurring because of the fragmentation of the industry, and also, fundamentally, clients are demanding a global platform with robust services," Bruce Mosler, Cushman & Wakefield's chief executive, said.