Somerset Financial Group (SFG) is a private real estate investment and finance company that was founded by Jules Reich in 1962. Since his entry into the field of real estate, Jules Reich was involved with and founded several companies and partnerships. Through these related entities, SFG has completed over $500 Million of real estate investments, financing transactions, joint venture participations and brokerage transactions. Although the company has acquired, developed and financed a variety of commercial asset classes, it specializes in the acquisition and development of residential (multi-family) real estate.
SFG has invested in/developed/converted approximately 2500 residential units, and remains very active in purchasing blocks of condominium and cooperative units from various developers and banks in New York, and in South Florida since 2007. The two operating principals of the company are Randi Reich Kahn and Jeffrey Bookman (a long time business partner of Jules Reich).
Prior to taking over the family business of Somerset Financial Group, Inc., Ms. Kahn was a Director in Citigroup Real Estate Investment Banking Group. Ms. Kahn has been involved in real estate debt and equity transactions of over $8 billion and has experience in office, retail, multi-family, hotel and industrial assets. With a BS in Accounting and an MBA from Wharton, she spent several years in public accounting at Arthur Anderson prior to joining Citigroup.
Jeffrey Bookman is a real estate professional with broad experience in all areas of investment and loans, including acquisition, capital projects, financing, sales, marketing and rehabilitation. Jeffrey has own and operated a real estate investment & management company for over twenty-five years and has purchased over 2,000 apartment units throughout the New York metropolitan area. These units were either converted to coops or condominiums or were purchased as a block of existing cooperative or condominium units. Jeffrey has also orchestrated and has been involved in the refinancing of many underlying cooperative loans.
After graduating from Florida Atlantic University with a BA in Business Management & Entrepreneurship in 2010, Joe Morello began working with Somerset Financial Group, Inc. at their Boca Raton office. Since then Joe has been working closely with SFG’s President with the operations of the company’s real estate holdings, new acquisitions, and hard money lending.