Somerset Properties

What Somerset Properties does

Somerset Properties is a privately held commercial real estate investment and operating company founded in 1996 and headquartered in Washington, United States. The firm acquires, repositions, and manages value-add commercial properties, including industrial, flex, office, multifamily, and retail assets, on its own account and on behalf of institutional and private investment partners. Since inception, the company has acquired and repositioned over 100 properties with cumulative gross asset value at stabilization exceeding $1 billion and currently manages approximately 8 million square feet. Disclosed portfolio activity includes individual deals ranging from roughly $8.7M (Hickory Pointe, 2015) to $63.75M (Premier Industrial Center, 2019), with realized deal-level IRRs spanning 9.2% to 42.1% across the documented track record.

The firm operates a multi-line service platform built on proprietary technology. Its core product is SPiServices, a proprietary property management software that gives tenants instantaneous access to management staff, and is backed by institutional-grade accounting infrastructure including MRI SaaS, AVIDxChange, and cloud-based data storage. Ancillary service lines include construction management, asset management, direct leasing with oversight of third-party brokers, investment sales, and land planning and consulting. The principals each bring over 30 years of commercial property experience and have participated in over $1 billion of acquisition and sales transactions.

Revenue is generated through managed services fees on the property portfolio, professional services fees for asset management and institutional accounting, transaction fees on leasing commissions and investment sales, and construction management fees. Distribution is direct to enterprise and mid-market customers, primarily institutional investors, private equity funds, REITs, and family offices, with geographic operations across the Southeast (Greensboro, Raleigh, Charlotte, Jacksonville), Mid-Atlantic (Plymouth Meeting, with deal activity in Pennsylvania, Maryland, New Jersey, Virginia), and selected markets in the Midwest, Southwest, and New England. The firm employs 11-50 people and is led by Anthony Brady, President and Founder. Counterparties identified in disclosed transactions include Blackstone and a private equity fund at exit on the Airport Distribution Center, and Continental Tire as a former tenant on the Premier Industrial Center.

Name

Somerset Properties

Legal name

Somerset Properties

Website

https://somprop.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Somerset Properties is a private commercial real estate investment and management firm that acquires and repositions value-add industrial, flex, and office properties for institutional and private investment partners, managing approximately 8 million square feet with $1 billion-plus in cumulative transactions.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment & Management

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Lessors of Real Estate (5311), Lessors of Other Real Estate Property (53119)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Commercial Real Estate Asset Management (BPAJAMAB)

akta.pro secondary industries

Real Estate Investment Sales (Income-Producing Properties) (FSAEAJAC), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB), Real Assets — Operating Platforms & Direct Investments (FSAAAKAL), Real Estate Strategy & Portfolio Consulting (Corporate/Institutional) (BPAJANAB)

Keywords

• Commercial real estate investment
• Property management services
• Asset management
• Value-add repositioning
• Institutional real estate

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Property Management Fees: Fees earned from managing commercial properties for institutional and private investment partners. The company manages approximately 8 million square feet of properties for its own account and clients.
2. Asset Management Services: Asset management services for institutional and private investment partners, acting as Asset Managers for long-term property ownership and value optimization.
3. Leasing Commissions: Direct leasing of properties and oversight of third-party brokers, with commissions earned on lease transactions.
4. Investment Sales: Facilitating acquisition and sales of commercial real estate properties, earning fees on transactions for clients and deploying capital for the firm's own account.
5. Construction Management: Construction management services overseeing general contractors and building service vendors for land development, new construction, renovations, and capital improvements.
6. Institutional Accounting Services: Accounting, budgeting and reporting solutions for investors and asset managers using MRI SaaS, AVIDxChange, and cloud-based data storage.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Somerset Properties is a commercial real estate investment and operating company that acquires, repositions, and manages industrial, flex/office, and other commercial properties for its own account and for institutional and private investment partners. The firm provides an integrated suite of services including acquisitions, development, construction management, asset management, property management, leasing, investment sales, institutional accounting, and land planning, leveraging its proprietary SPiServices software platform. Since inception, the firm has acquired and repositioned over 100 properties totaling approximately 8 million square feet with a stabilized gross asset value exceeding $1 billion.

Product overview

Somerset Properties operates as a commercial real estate investment and management company offering an integrated suite of services built around its proprietary SPiServices software platform. The company provides construction services, asset management, property management, leasing, investment sales, institutional accounting, and land planning/consulting services. With over 100 properties acquired and repositioned with a gross asset value exceeding $1 billion, the firm manages a diverse portfolio spanning industrial, flex/office, multifamily, and retail properties across multiple U.S. states.

Differentiator

Problem solved

Functional benefit

Brands

• SPiServices: Proprietary software platform used for property management, providing tenants with instantaneous access to management staff and used for accounting, budgeting and reporting solutions.

Products and services

• Construction Services Construction management services including land development, new ground-up construction, building renovations, tenant improvements, and capital improvements, with Somerset acting as construction manager overseeing general contractors and building service vendors.
• Asset Management Asset management services for institutional and private investment partners, leveraging the firm's long-time ownership and operator experience to oversee properties as if they were their own.
• Property Management Commercial property management services for Somerset's own account and institutional/private clients, covering approximately 8 million square feet, supported by proprietary SPiServices software and senior executive oversight.
• Leasing Direct property leasing services and oversight of third-party leasing brokers, with focus on completing leases quickly and within budget to maximize property value.
• Investment Sales Commercial real estate acquisition and sales services, with principals bringing over 30 years of experience and involvement in over $1 billion of transactions, executing both on own account and for clients.
• Institutional Accounting Services Institutional accounting, budgeting, and reporting services for investors and asset managers using MRI SaaS, AVIDxChange, and cloud-based data storage.
• Land Planning and Property Consulting Land planning and property consulting services delivered by principals with over 30 years of commercial property experience for acquisitions, dispositions, and development advisory.
• SPiServices Software Platform Proprietary property management software that provides tenants with instantaneous access to Somerset Properties' management staff to address property issues, complemented by senior executive oversight.

Quantifiable outcome

• NOI increased from $728,000 to $1,167,000 (60% increase) at Hickory Pointe, Plymouth Meeting, PA
• +7 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators9 records

Recent moves6 records

Expansion highlights3 records

Emerging players

• Anchor Health Properties: Private healthcare-specialized real estate investment and management firm. Similar full-service model (acquisitions, asset management, property management) but focused exclusively on medical office, providing an adjacent value-add repositioning comparable.

Broad incumbents

• JLL (Jones Lang LaSalle): Global commercial real estate services firm with investment sales, property management, leasing, and asset management practices. Represents a scaled institutional competitor across most of Somerset's service lines.
• Marcus & Millichap: Large public commercial real estate investment services firm with deep investment sales, financing, and advisory coverage. Provides a benchmark for CRE investment services at scale, including overlapping leasing and investment sales capabilities.
• CBRE Group: World's largest commercial real estate services and investment firm, with full overlap across investment sales, leasing, property management, and asset management. Sets the institutional benchmark against which private operators are measured.
• Colliers International: Global commercial real estate services and investment management firm. Competes with Somerset across investment sales, property management, and asset management at the institutional end of the market.
• Cushman & Wakefield: Global commercial real estate services firm with full-service overlap in investment sales, asset management, and property management. Provides another scaled institutional comparator in the same space.

Direct peers

• Buchanan Capital Partners: Private commercial real estate investment firm focused on acquiring and repositioning value-add properties for institutional and private capital. Operates in overlapping industrial and flex submarkets with similar scale.
• Stoltz Real Estate Partners: Private commercial real estate investment and management firm of comparable size focused on value-add office, industrial, and flex properties in the Mid-Atlantic and Southeast. Closely matches Somerset's strategy, asset mix, and investor base.
• Crow Holdings Capital: Dallas-based private CRE investment manager with a value-add, repositioning-oriented strategy across industrial, office, and multifamily. Comparable in offering mix (acquisitions, asset management, property management) and institutional LP base.
• Basis Investment Group: Private commercial real estate investment manager focused on value-add acquisitions, recapitalizations, and asset management for institutional investors. Overlapping strategy and target asset classes with Somerset.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Somerset Properties