This part of the service will provide valuations, asset management services and disposition services to assist the government in maximizing value from securities and assets acquired from failed financial institutions, the company says. JLL applied to be a whole loan advisor under TARP a few weeks ago, Jere Lucey, managing director, JLL, tells GlobeSt.com. Treasury has not responded to any of the RFPs yet.

The other parts of the offering--Financial Institution Occupancy Services, Financial Institution Investment Advisory and Distressed Property Receivership Services--will be staffed from various JLL offices around the country and will focus on the various aspects of the financial realignment that is occurring.

"The needs of our clients have changed," Lucey explains. More fundamentally, he adds, to a large degree its actual clients have changed. "Before, we would be engaged to raise capital--now we are being engaged by financial institutions to sell assets." Lucey notes that JLL has always done business with financial institutions, adding a caveat, "but typically we would show them investment opportunities; now we are helping them with disposition or resolution of those assets."

Other elements of the offering include:

• Financial Institution Occupancy Services, which will assist banks and insurance companies with their new occupancy needs. Services can include facility acquisition due diligence, portfolio occupancy strategy, facility management, project management, lease consolidations and dispositions, and monetization/disposition of owned assets;
• Financial Institution Investment Advisory, which will provide valuation, asset management, loan servicing and disposition services for banks and insurance companies that have challenged assets and liabilities on their balance sheets;
• Distressed Property Receivership Services, which will provide receivership services to lenders, loan services and financial institutions. It will work with courts, lenders and borrowers to control and direct the management of distressed assets until resolution, such as the sale of the asset;
• Distressed Property Strategies, will provide asset valuation and recapitalization services, value enhancement strategies and capital-raising services to companies seeking to refinance or raise capital for new requirements.