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Endgame.

Project Completion Services + Capital

Somerset Partners and Jones Lang LaSalle have joined forces to create Endgame, a fully-integrated services and capital solutions platform designed to help real estate lenders, loan servicers and investors stabilize troubled real estate assets and see them through to completion. The asset in question can be an unfinished ground-up development, a partially completed renovation, a complicated redevelopment, or a completed project that lacks an experienced party to take ownership of the marketing, lease-up and/or sell-out process.

The powerful and uniquely positioned Endgame platform combines Somerset Partners’ access to capital and proven development and asset management capabilities with Jones Lang LaSalle’s global real estate services infrastructure, best practices and process controls.

Endgame focuses on real estate development projects with $50-250mm in capitalization.

Key People:

The Endgame platform is led by Marshall G. Allan of Somerset Partners and Peter Lambis of Jones Lang LaSalle’s PDS Group.
Mr. Allan, a Somerset Principal with over 20 years of real estate investment and management experience, is the overall lead for Endgame investments, marketing and strategy. He is supported by David Spies who directs Capital Markets and Investment Platform Acquisitions. In addition to Mr. Allan and Mr. Spies, the Endgame senior management team includes the following Somerset professionals:

Philip Welch, Somerset Principal: Multifamily Project Oversight
Jud Towner: Multifamily Property Management
Joseph Monteleone: Legal
Gregory P. Knoop: Leasing and Property Management
Robert D. Hill: Marketing Strategy and Design

Mr. Lambis, with more than 15 years of engineering, construction and development management experience, heads the Endgame service platform and is responsible for strategy and development operations. Individual Endgame projects are staffed as required by Jones Lang LaSalle’s PDS Group – which maintains offices in 55 cities throughout the United States. All Endgame Project and Relationship Managers report directly to Mr. Lambis.
Mr. Allan and Mr. Lambis are further supported by a deep bench of professionals from the architectural, construction, engineering, property management, asset management, leasing, real estate finance, marketing and legal fields.

More about the two organizations:

Somerset Partners, LLC is a private investment firm with commercial and multi-family real estate properties throughout the United States. The Endgame platform is a return to Somerset Partners’ roots. The firm got its start in the late 1980s doing receivership work and work-out consulting for banks in the New York Tri-State area. Projects included work on fractured co-ops, condominiums, partially completed developments, and other various distressed asset classes. The original Somerset portfolio was rolled up and sold in the late 1990s. Since 2001, Somerset Partners has invested approximately $1.5 billion in multifamily and commercial office properties resulting in a weighted average IRR, on properties sold to-date, of 24.1%. The company’s portfolio currently includes trophy office buildings 450 Park Avenue at 57th Street in New York City and 1801 K Street in Washington, DC, and a portfolio of garden-style, suburban multi-family properties throughout the Southeastern and Southwestern U.S.

Jones Lang LaSalle is an international, commercial real estate services company with niche expertise in the development of office, retail and hospitality facilities. Jones Lang LaSalle’s PDS Group provides project management services to commercial real estate owners and developers throughout the world. With over 1,300 in-house Project Managers and 200 dedicated Development Management professionals located in 55 U.S. offices, Jones Lang LaSalle is able to quickly mobilize resources in any region in the U.S. For more information on Jones Lang LaSalle, please visit: www.joneslanglasalle.com.