investment development construction property … development construction property management. ......

Investment ■ Development ■ Construction ■ Property Management

www.LandmarkInvestment.com

S E C T I O N IL a n d m a r k I n v e s t m e n t G r o u p, l l c

■ Asset Management■ Investment Management■ Financial Services

S E C T I O N I IL a n d m a r k d e v e l o p m e n T g r o u p, L l c

■ Development■ Acquisitions■ Design Services

S E C T I O N I I IL a n d m a r k C o n s t r u c t i o n g r o u p, l l c

■ Construction Management■ General Contracting■ Construction Administration

S E C T I O N I VL a n d m a r k P r o p e rt y M a n a g e m e n t g r o u p

■ Property Management■ Marketing■ Leasing

The one constant

in our business is

change. We ask

all members of

the Landmark

team to embrace

change because it is inevitable. I want

to emphasize, however, that we can

manage change and still preserve the

integrity of our corporate vision,

culture and mission.

Our mission is to be

among the most

respected providers of

real estate services. Our

vision is to provide our

clients, tenants, owners

and team members with

an enjoyable, dynamic

experience while fulfilling our mission.

To this end, we assemble

teams of professionals dedicated

to performance, innovation and

excellence. We foster a creative

environment based on team

philosophy, sound organizational

structure and cutting-edge technology.

Our core values are simple: do what

you say you will, treat people fairly,

never compromise your integrity,

and measure success within the

context of the team.

The simplicity of our mission, our

vision, and our core

values brings us stability

within a constantly

changing business

environment.

We welcome the

opportunity to team

with you and to fulfill

our commitment to quality and

service. We understand that every

business decision is a new Landmark.

P R E S I D E N T ’ S M E S S A G E | Glenn J. Russo

www.LandmarkInvestment.com Page I-1

“We understand

that every business

decision is a

new Landmark.”


Founded in 1985, Landmark

Investment Group has been a leader in

the real estate industry for over 18

years – acquiring, developing and

managing our portfolio of commercial,

retail and residential properties in

select real estate markets. As an

experienced, full-service real estate

investment management company,

we provide the highest levels of

accountability and a track record

of out-performing the market.

Landmark’s goals are to continue to

build its profitable real estate

investment portfolio through

acquisition and development, and

achieve outstanding returns on

investment through comprehensive

and focused property management,

marketing and leasing.

Privately held, Landmark has offices in

Middletown, CT, its headquarters, and

in Boston, MA. We focus on high

barrier-to-entry markets from New

England to metro Washington, DC.

Our Strategy: Market Timing and

an Integrated Approach

Building a real estate investment

portfolio with outstanding yields

is impossible without both market

timing and an integrated approach

to the diverse real estate expertise

required to ensure the success of

every acquisition or development.

Landmark brings all this together

in a single real estate entity.

Anticipating market trends is the first

hallmark of Landmark Investment

Group’s strategy. By successfully

timing the market – acquiring

property before or early in the

absorption/growth phase, and selling

during the peak phase in the real

estate cycle – we provide our clients

with strong, risk-adjusted returns.

Because of this, our disciplined,

I N T R O D U C T I O N | About Our Company

www.LandmarkInvestment.com Page I-1www.LandmarkInvestment.com

demonstrated research and investment

process results in superior returns and

performance on our investments.

But market timing alone is

insufficient. Many other real estate

skills – finance, design, construction,

marketing, leasing and property

management – are required if superior

investment returns are expected.

This is Landmark’s other hallmark: an

integrated application of superior real

estate expertise across the board.

To achieve this integrated approach,

Landmark Investment Group is

structured as four separate operating

companies – Landmark Investment

Group, Landmark Development

Group, Landmark Construction

Group, and Landmark Property

Management – each able

independently to bring to bear its own

highly specialized knowledge and

experience to every Landmark project,

all delivered with high levels of

coordination and teamwork.

The Landmark team is proud of its

18-year track record of performance.

We look forward to building our

outstanding portfolio of properties

and delivering exceptional

opportunities to our clients.

I N T R O D U C T I O N | (continued)


ISECTION


L a n d m a r k i n v e s t m e n t g r o u p, l l c

Capital access and financial strength

to deliver superior investor and

ownership returns

S E C T I O N I

LANDMARK INVESTMENT GROUP, LLC | Introduction

www.LandmarkInvestment.com Page I-1www.LandmarkInvestment.com Page I-1

Landmark Investment

Group plays key roles in

all life cycle phases of

each Landmark real estate

project, from analyzing potential

acquisitions, to financing development

opportunities, to managing our

portfolio of real estate assets.

With its integrated relationship with

Landmark Development’s acquisition

& development expertise and

Landmark Property Management’s on-

the-ground capabilities, portfolio

opportunities can be identified, and

long-range investment objectives met.

The result? A real estate portfolio with

superior long-term returns on

investment exceeding.

Superior asset managers develop and

implement strategic plans that

maximize the value of an investor’s

assets. At Landmark Investment

Group, LLC, our extensive asset

management experience enables us to

skillfully resolve complex real estate

challenges and take advantage of

opportunities in the market.

Through its coordination with on-the-

ground property management,

Landmark Investment is able to

translate important

long-term portfolio

objectives – market

timing, broader

economic trends,

or new investment

criteria – into

tangible action at

the property level.

We provide comprehensive real estate

services that lead to a fully integrated

marketing and retention program, and

ultimately to stabilized assets with

long-term, market-beating returns

satisfying the investment objectives of

our portfolio clients, demanding

clients such as Haven Healthcare and

Principal Financial Group.

LANDMARK INVESTMENT GROUP, LLC | Asset Management


Anticipating market trends is the

hallmark of Landmark Investment

Group’s strategy. By successfully

timing the market – acquiring

property during the absorption/growth

phase through the equilibrium phase,

and selling during the peak phase in

the real estate cycle – we provide our

clients with strong, risk-adjusted

returns.

In our 18-year history, our portfolio of

office, industrial, retail and apartment

properties, concentrated in select

target markets, has created the

dominance and economies of scale

required for outstanding returns. Our

commitment to providing exceptional

investment management is ensured

through sponsor co-investment,

extensive market expertise and

advanced management information

systems.

LANDMARK INVESTMENT GROUP, LLC | Investment Management


Financial dexterity often separates

active investors from those who watch

from the sidelines. Landmark

Investment Group’s access to capital

markets and internal fiscal strength

ensures successful completion of even

the most complex financing

requirements. We maximize cash flow

and value for

real estate

investors by

providing a

broad spectrum

of financial

advisory and

fulfillment

services.

The services Landmark provides

include debt and equity procurement

and placement, mortgage and equity

partnership financing, property and

consolidated fund-level accounting,

financial audits and income tax return

coordination, asset and portfolio

valuations and financial analysis,

capital restructuring, cash and risk

management, and joint venture

negotiation, structuring and

administration.

LANDMARK INVESTMENT GROUP, LLC | Financial Services


IISECTION


L a n d m a r k D e v e l o p m e n t g r o u p, l l c

Building exceptional investment value

for tenants, retailers, and residents …

from the ground up

S E C T I O N I I

In good economies and

bad, in up cycles

as well as down

cycles, opportunities

exist, perhaps obscured by market

conditions, or constrained by

circumstances unique to that property.

Landmark Development Group

identifies them, as do our competitors.

But knowing which ones to pursue,

how to assess each one’s potential, and

what is needed to ensure the project’s

success requires knowledge and

expertise across many disciplines –

finance, design and planning,

construction, marketing and leasing –

expertise Landmark Development has.

The result is a track record of

successful development and

acquisition projects, and market-

beating returns exceeding the

investment objectives of our

portfolio clients.

LANDMARK DEVELOPMENT GROUP, LLC | Introduction

www.LandmarkInvestment.com Page I-1www.LandmarkInvestment.com Page II-1

Sometimes the most successful

projects are made, not bought.

Combining its financial strength, a

superior real estate development team

of architects, engineers, regulatory and

permitting experts, construction

experts, marketers, and leasing

specialists, Landmark Development

Group builds exceptional value for

tenants, retailers, and

residents … from the

ground up.

We dedicate a core team

to each project or

property to focus on the

crucial aspects of land

acquisition, permitting

and approvals, market

positioning, building design,

construction supervision, project

financing, and marketing, sales

and leasing.

Combined with Landmark Investment

Group’s financial strength and access

to capital, Landmark Development is

able to adequately fund difficult but

highly profitable development

opportunities. Our ability to “stay in

the game” through market cycles and

in today’s highly contentious

regulatory environment gives

Landmark the staying

power to find

opportunities, and

see them through

to completion,

opportunities too risky

or too difficult for other

competitors.

The result is a consistent

track record, and portfolio holdings,

of highly successful projects at superior

rates of returns.

LANDMARK DEVELOPMENT GROUP, LLC | Development

www.LandmarkInvestment.com Page I-1

Developing

outstanding

real estate

opportunities …

from the

ground up.

www.LandmarkInvestment.com Page II-2

Projects are most successful, and

investors are best rewarded, when a

managing partner has guaranteed

access to capital and the ability to

make acquisition decisions quickly.

By virtue of our financial strength and

independence, Landmark

Development Group identifies and

aggressively acquires highly desirable

assets and opportunities – often early

in a market cycle – applies the life-

cycle disciplines

required to

reposition and

improve the

property, and finds

added value where

others did not.

The same core team we dedicate to

our ground-up development

opportunities we dedicate to every

acquisition, focusing on the elements

crucial to a successful project.

As a result, over the last five years, we

made numerous acquisitions and

expanded our portfolio of value-added

and stabilized assets.

LANDMARK DEVELOPMENT GROUP, LLC | Acquisitions


Design experts must balance form and

function with flexible solutions that

optimize cost, time and quality in

order to meet the

diverse needs of

tenants, brokers,

owners and

property managers.

Landmark

Development

Group is proud of

the experience and

professionalism of

our team of

architects,

designers, professional managers, and

cost and financial analysts. In all our

development projects, our design and

analyst team reduce both time and

expense in the planning and

construction phases of a project with

an integrated, coordinated approach

that is customized to promote the

investment goals

of each of

our clients.

We provide a full

range of design

services, from new

project planning,

renovation and

interior design,

to creating

exceptional spaces

for working,

selling and living, for tenants, owners,

and residents.

LANDMARK DEVELOPMENT GROUP, LLC | Design Services


IIISECTION


L a n d m a r k C o n s t r u c t i o n G r o u p, l l c

Construction schedules and budgets

exceeding our client’s expectations

S E C T I O N I I I

Landmark Construction

Group’s extensive

experience in

construction management,

general contracting, and construction

administration allows us to provide

cost-effective, quality and state-of-the-

art solutions to meet the needs of our

clients and the shifting requirements

of the market. Our high level of

coordination

minimizes

and even

eliminates

unforeseen

construction

escalation

costs and

maintains each project’s scope,

schedule and budget in line with our

client’s expectations. It also assures the

anticipated financial returns for our

owners and investors.

Over the last five years we have

managed major tenant and capital

improvement work in a variety of

commercial buildings including low-

and high-rise office buildings, research

and development facilities, industrial

and manufacturing facilities, retail

buildings, and apartments.

Our pedigree spans 18 years, with

broad experience across a wide variety

of projects:

major site and

highway

contracting

for the

Connecticut

DOT,

municipal

construction, site construction for CT

Light and Power and other public

utilities, and for private owners such as

Oxford Management.

LANDMARK CONSTRUCTION GROUP, LLC | Introduction

www.LandmarkInvestment.com Page I-1www.LandmarkInvestment.com Page III-1

Where many of our acquisitions may

require extensive refit, substantial

renovation, or tenant improvements,

Landmark Construction Group will

act as Construction Manager,

overseeing, coordinating and

managing whatever trades or

subcontractors might be required. This

allows us to synchronize precisely

every facet of the work to ensure the

project meets our design, planning,

and financial standards.

Tight control over all aspects of a

construction project, sometimes as

small as the renovation and

reconfiguration of an office building

lobby, or as large as a 700-dwelling-

unit multi-family community, is as

important to the financial success of

any Landmark project as the timely

acquisition of an investment property

or the creativity of its financing.

LANDMARK CONSTRUCTION GROUP, LLC | Construction Management


Because of Landmark Construction

Group’s financial strength and

bonding capacity, we often act as a

General Contractor on

credit tenant lease and

build-to-suit projects.

In undertaking a

General Contracting

role, Landmark couples

assumption of all the

financial risks of the

construction process

with our

comprehensive

Construction

Management capabilities.

This ensures, for both our credit

tenant clients and our investors/

owners, a level of internal control and

financial responsibility unavailable to

other real estate investment or

development companies whenever

they hire an outside

general contractor,

regardless of how

“airtight” a GMP

contract is structured

or what contractual

financial penalties are

written in to the deal.

The result? The best

product for the least

cost in the shortest

time, all prerequisites

for a successful project, happy credit

tenant lessees, and satisfied investors.

LANDMARK CONSTRUCTION GROUP, LLC | General Contracting


For those projects where an outside

general contractor is preferred,

Landmark Construction’s prime role

will be the administration of the

construction phase start to finish, from

hiring the general contractor and/or

construction manager, to interacting

with the lender and processing all

progress payments, to handing the

tenant the keys.

Landmark relies on its construction

administration expertise to provide

complete oversight of all construction

related activity of a Landmark project:

■ developing all bid packages for general

contractor selection;

■ negotiating and awarding of all

construction contracts;

■ communicating among all parties in

the construction process – owner,

architect, engineers, consultants,

municipal and other government

authorities, the general contractor, and

lenders;

■ tightly controlling the change order

process;

■ scrutinizing all progress payment

submissions;

■ managing the construction loan

requisition process;

■ complying with all permitting and

approvals required for occupancy;

■ coordinating all tenant improvement

work, if applicable;

■ delivering the property out of

construction into ownership and

property management oversight

The result? Landmark’s expertise in

construction administration provides

all our projects with comprehensive

construction oversight, tight

construction financing control and,

ultimately, superior bottom-line

profitability.

LANDMARK CONSTRUCTION GROUP, LLC | Construction Administration


IVSECTION


L a n d m a r k P r o p e rt y

M a n a g e m e n t G r o u p

Increasing asset value through

unparalleled property management,

marketing and leasing

S E C T I O N I V

LANDMARK PROPERT Y MANAGEMENT GROUP | Property Management

www.LandmarkInvestment.com Page I-1www.LandmarkInvestment.com Page IV-1

Increasing investment

values by maintaining

high occupancy levels

and minimizing operating

costs is the objective of exceptional

property management. Landmark

Property Management

provides responsive,

proactive management

services that enhance

each property’s

distinctive style, its

working environment

and its value.

Our managed properties exceed the

market average in occupancy rates and

customer satisfaction surveys, often

earning the distinction as the most

desirable in their markets. We offer

extensive tenant relations and

retention programs,

contract administration,

accounting services,

customized management

reporting, lease

administration, capital

improvement planning,

and cash management.

We never lose sight of our mission to

be the most respected provider of real

estate services to our tenants, clients

and owners.

“Maximizing value

by maintaining

full occupancy

and minimizing

operating costs.”

Vacancy is the most significant risk of

any asset, and a stable tenant base is

the key to attaining a profitable

commercial real estate investment.

Landmark minimizes vacancy by

accurately positioning, pricing and

marketing our properties to attract

first-class, credit-worthy tenants.

We continuously assess market

conditions, and fine-tune our

marketing strategy to satisfy both the

short and long-term objectives of each

property, reinforcing our dedication to

quality and service by providing the

market intelligence, tools and

resources required to attract and retain

the best tenants possible.

LANDMARK PROPERT Y MANAGEMENT GROUP | Marketing


The collective experience of our

seasoned leasing professionals,

combined with our extensive presence

in active and dynamic markets,

differentiates us from our competitors

and guarantees that our team sees

and understands every deal in the

marketplace.

Our leasing agents’ ability to rely on

the other areas of Landmark’s

expertise, such as providing

sophisticated financial solutions for

lessees, or applying our extensive

construction management and

administration to build out complex

tenant improvements, give us a

distinct advantage in the marketplace.

LANDMARK PROPERT Y MANAGEMENT GROUP | Leasing


PORTFOLIO

PORTFOLIO | Landmark Center

LandmarkCenter

LOCATION

Middletown, CT

OWNER

Landmark DevelopmentGroup, LLC

FACTS

95,000 s.f.


Problem

This Class A corporate

headquarters was custom built

for a division of Xerox. The

building and floor layout,

originally intended for a single

tenant, was impossible to

subdivide, and the property

languished on the market once

the division was sold and the

tenant vacated.

Solution

Acquire the property and

reconfigure the central core to

accommodate multiple

tenants, and provide the vision

to successfully finance and

lease out the 95,000 square

foot building to AAA credit

corporate tenants.

PORTFOLIO | Reta i l C l ient Exper ience

The Sherwin-WilliamsCompany

LOCATION

Across New England

Cort BusinessServices

LOCATION

Select Locations

Unlike most developers, property

owners or spec builders , Landmark’s

approach to retail development is

100% client-driven. Applying its

nearly 20 years of general

contracting and project management

experience, Landmark begins at the

“client-side” and works from pre-

leasing to meet all it clients’

expectations: the right site, iron-clad

construction guarantees, on-

time–on-budget occupancy. Our

capital access and development

experience gives Landmark the

ability to pursue any project, of any

size, with any credit-worthy retailer.

The Sherwin-WilliamsCompany

Landmark Development

provided total retail

development and

investment services for

The Sherwin-Williams Company

across New England. We worked

start-to-finish to locate and acquire

sites which met the client’s

requirements, permitted and

constructed free-standing buildings

to their specifications, and

guaranteed on-time occupancy at

guaranteed lease rates and terms.

CORT Business Services

Interested in a site

controlled by

Landmark, CORT approached us to

lease space and ended up not only

with their 1st retail location in CT

but also hiring Landmark as

construction management. By

piggybacking subcontractors hired

for construction of the base

building, Landmark was also able to

build out CORT’s space to their

exact specifications at substantial

cost and time savings, savings

unattainable if the tenant had bid

the work separately.


PORTFOLIO | Res ident ia l Projects

Landmark develops multi-family

properties specifically to meet

institutional-grade investment

standards. We focus on markets

between Boston and Washington

DC where the barriers to entry are

high and the regulatory environment

a challenge.

We develop residential projects

suitable for institutional investment:

a minimum of 150 units and quality

amenities. Larger projects are phased

according to market absorption, and

are managed with low tenant

turnover and staggered lease

terminations.



Nohl CrestApartments

LOCATION

Middletown, CT

ARCHITECT

Humphreys & PartnersArchitects, TX

FACTS

180 Units

This 180-unit, multi-family

project was developed from its

inception as an institutional-

grade investment:

■ luxury rental site and unit

design

■ full amenity package

including club house, fitness

center and pool

■ sufficient project scope

(>150 units) to achieve

economies of scale

By designing, permitting and

positioning Nohl Crest as

institutional grade from the

start, Landmark was able to

secure a complete financing

commitment, from

construction through

permanent loan and

investor equity.



NewfieldApartments

LOCATION

Middletown, CT

ARCHITECT


FACTS

Phase I – 200 UnitsPhase II – 200 Units

The site for this 400-unit

apartment complex, nestled in

a residential area of

Middletown, CT, originally

was split between industrial

and multi-family zoning

districts.

Landmark sought the

appropriate zone changes and

combined the parcels into a

single project, then applied for

site plan approval.



River Highland I,II and III

LOCATION

East Lyme, CT

ARCHITECT


FACTS

Phase I – 400 UnitsPhase II – 400 UnitsPhase III – 400 Units

Spanning a mile of waterfront

along the salt-water estuary

Niantic River, Landmark’s

River Highlands master-

planned residential

community is comprised of

luxury condominiums and

multi-family rental

apartments, including a

substantial component of

affordable units to meet the

robust housing demand in

southeastern Connecticut.

With over 1,200 units

planned for the site in 3

phases, Landmark committed

the required – and substantial

– resources to see the project

through a complex, multi-year

planning and approval process.


OFFICES

Connecticut

460 Smith Street

Suite A

Middletown

Connecticut

06457

Tel 860 613-0751

Fax 860 613-0754

Boston

66 Charles Street

Suite 476

Boston

Massachusetts

02114

Tel 617 624-3883

Fax 617 249-0145

Landmark Development Group, LLC

has been a leader in the real estate

industry for over 18 years, acquiring

and developing commercial and retail

product in the Eastern United States.

As one of the country’s leading

privately-held real estate acquisition

and development companies, we are

uniquely positioned to act quickly to

meet all the opportunities and

challenges the market presents.

Acquisition Criteria:

We seek well-located infill

development sites, as well as

completed, vacant or leased properties

in Connecticut, Metro Boston, metro

New York, and metro Washington,

D.C. valued between $10 million and

$100 million.

Property Criteria:

Office: Existing Class A office

properties, in central business district

and suburban employment hubs,

75,000 square feet or larger

Retail: Seeking credit tenant retail

development and ownership

opportunities

Land: Extremely well-located infill

development sites in major market

areas and suburban employment hubs,

suitable for multifamily with

minimum of 15 acres; retail sites;

and office sites

P O R T F O L I O | Landmark Development Group, LLC


Target Markets

SITE LOCATION CONTACT PHONE EMAIL

Connecticut Glenn Russo (860) 613-0751 [email protected]

Boston Wm. Matthews (617) 623-3883 [email protected]

Metro New York Glenn Russo (860) 613-0751 [email protected]

Metro Wash, DC Wm. Matthews (617) 623-3883 [email protected]

investment development construction property … development construction property management. ......

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