Lowe Names Newman President of Real Estate Group
- Apr 28, 2010
April 28, 2010
By Allison Landa, News Editor
Real estate investment, development and management firm Lowe Enterprises, Inc., has named Richard Newman, Jr., President of the firm’s Real Estate Group. Newman will oversee the firm’s commercial and multifamily investment, development and asset management activities nationwide, including the company’s current portfolio of more than 5 million square feet of office, industrial and retail space under management and $800 million of commercial development planned or underway.
Newman joined Lowe in 1986 and was elected a company shareholder in October 1998.
“Rick has been instrumental in the expansion of our commercial property operations,” Lowe founder and CEO Robert Lowe said when announcing the news. “He is a strong and talented leader with the proven skills to guide our Real Estate Group into the next cycle of growth.”
Newman is a member of NAIOP, the Urban Land Institute and is an executive board member of the ULI Los Angeles District Council and the Los Angeles Commercial Real Estate Association. He earned a master’s degree in real estate development from the Massachusetts Institute of Technology and a bachelor’s degree from Stanford University.
Throughout 37 years in business, Lowe has developed, acquired or managed more than $16 billion of real estate assets nationwide. It manages $4 billion in real estate assets on behalf of institutional and investment clients. The company is currently actively investing in commercial and multifamily properties with repositioning value, and maintains offices in Los Angeles, Orange County, Calif., Denver, San Francisco, and Washington, D.C.