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News release

Chicago

Jones Lang LaSalle Debuts Proprietary Loan Tracking Database called OneView by Jones Lang LaSalle for Banks and Public Institutions

New online software tool creates transaction platform to reduce cost, provide an audit trail and maximize value


CHICAGO, JUNE 24, 2009 — As the federal government and financial institutions continue to seek avenues to stabilize and repair the struggling economy, many of the nation’s largest banks are grappling with massive capital holes that require replenishing. While many institutions are raising funds through stock sales, most are also relying upon some asset dispositions to help shore up their capital bases.  However, the staffing, accounting systems, and infrastructure required to deal effectively with the tidal wave of defaults, work-outs, and real estate owned (REO) property requires lead time, investment, and human resources.
 
As part of its Value Recovery Services, Jones Lang LaSalle’s capital markets experts have solved these challenges and customized a new proprietary web-based relational database called OneViewSM by Jones Lang LaSalle, which helps financial institutions process current or inherited challenged assets with centralized management that saves time, reduces costs, maximizes value recovery and produces audit trails for regulatory compliance.  Jones Lang LaSalle’s system organizes a financial institutions’ performing, non-performing and real estate owned (REO) portfolios of small to large assets into geographic and asset type sub-categories with an indexed electronic data room--creating a standardized transaction platform to further augment value.
 
“It’s a familiar and reoccurring scene when we meet with financial institutions that are trying to get a handle on their special assets.  The typical approach is to move some loan officers over to special assets, who now are handling 50 to 100 assets each using basic excel spreadsheets and a bunch of boxes full of hard files,” said Wes Boatwright, Managing Director of Jones Lang LaSalle’s Real Estate Investment Banking team.  “Most of these loan officers haven’t lived through a real estate down cycle and the problem has grown so quickly that there hasn’t been enough time to create an effective and efficient system to streamline the process, leverage down costs and ensure maximum value recovery.  Many of these assets are small balance loans, which add to the processing inefficiency.”
 
“During this critical time, financial institutions can leave no stone unturned in their quest to maximize assets and recover value.  Unproductive capital on an owner’s balance sheet is a huge liability and those firms that are able to access these hidden assets will emerge as leaders in the recovery,” said John Vick, Managing Director of Jones Lang LaSalle’s Development and Asset Strategy team.  “We’ve tested and proven this on a regional bank portfolio for the disposition of a wide range of distressed assets─ partially completed subdivisions, commercial properties warehouses, and retail stores.  OneViewSM simplifies the process of locating, managing and standardizing multiple assets and provides complete transparency for both the owner, as well as potential buyers and the federal government.”
 
Jones Lang LaSalle has proven this proprietary technology over the past five years, utilizing it to facilitate more than 1,600 transactions for regional and international banks, as well as select commercial real estate owners.  Fully tested and infinitely scalable, it is now available for broad deployment.  OneViewSM will allow financial institutions to manage a large number of transactions with a smaller staff, and obtain a maximum sales price while still effectuating a timely removal of assets from the balance sheet.  The database, adapted specifically for each client, manages numerous individual transactions across a wide geography and allows the client to have easy access to all due diligence materials including surveys, title reports, photos, etc.  It gives clients the ability to track and assess the status of each transaction at every stage in the process, while allowing various secure levels of access for all interested parties.  The database also delivers customized standard reports and allows all data to be exported to Excel to allow further analysis.
 
“With more public/private partnerships being formed between banks and the federal government, clear and total transparency will gain even more importance in the coming months,” said Tom Kirschbraun, Managing Director of Jones Lang LaSalle’s Development and Asset Strategy team.  “OneViewSM allows clients to establish a clearly understandable audit trail.  The benefit of this technology becomes immediately clear from both a federal regulatory standpoint and a business standpoint.”
 
Through its Value Recovery Services, Jones Lang LaSalle is focusing its extensive expertise in all facets of commercial real estate to provide specialized services to clients that are affected by the current financial crisis.  These services include helping financial institutions address the operational, occupancy and cost reduction needs resulting from the rapid pace of mergers and acquisitions in that industry.  They also include advising those financial institutions with troubled loans and foreclosed real estate (REO) on their balance sheets, including note sales and disposition of REO.  Additionally, the firm is providing loan work-out and receivership services, asset and property management, leasing and disposition services for clients with assets experiencing financial difficulties or foreclosure.  The firm also is helping clients raise capital by monetizing owned facilities through sale-leaseback transactions and providing creative asset management and financial solutions to hotel owners and investors struggling in current markets, and assisting owners and lenders in developing asset value creation and recapitalization strategies for underperforming investment properties.
 
Jones Lang LaSalle Capital Markets is composed of a broad range of real estate investment debt and equity specialists, and corporate finance experts, working on all property types and in all the major national markets on behalf of major institutional and local investors and developers, as well as corporations.  The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs.   The Investment Sales teams assist investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product. The firm’s Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide derivatives structuring and loan sale advisory services.  The Corporate Capital Markets professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios.  The Development and Asset Strategy team specializes in the sale of non-income-producing properties in their various forms from vacant buildings to raw land to entitled parcels and partially completed subdivisions.  The firm's Value Recovery Services assist clients affected by the current financial crisis by creating value while managing risks hrough evaluating operational and occupancy needs, assisting with challenged assets and liabilities on their balance sheets, providing receivership services, asset management, raising capital through sales-leasebacks and providing leasing and recapitalization strategies for distressed assets. In the past two years, the firm’s Capital Markets team handled $117 billion of transaction volume.
 
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $46 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.
 
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