Firm to Assist Stalled Projects

DALLAS, TX - Lowery Realty Services (a subsidiary of Lowery Companies) has been created to assist banks, lenders and investors in repositioning and recovering stalled or failing development projects. The firm provides expertise in virtually every aspect of the development process. Initial services include "as-is" asset evaluation, condition and marketability assessments, and recovery projections. Expanded offerings include product design or re-design, construction, and sellout.

In many cases, after acquiring properties through the foreclosure process, lenders have been unable to find efficient and financially sound methods for removing real estate assets from their balance sheets. Lowery Realty Services will assist owners of real estate with make-ready actions for positioning real estate assets properly for disposition. With capabilities in all developmental disciplines, Lowery Realty Services has the expertise to completely assess projects from every perspective, including financial analysis and project budgeting; evaluation of project condition, strengths, weaknesses, opportunities and threats; evaluation of current and potential market conditions; and sales situation and opportunities. Lowery Realty Services is able to develop branding and re-branding strategies, market positioning and media strategies in tandem with their clients, for efficient plan executions. "We have been there and we understand the realities of today's market," said John Lowery, CEO. "I'm a former banker and know firsthand the conditions facing lenders today are unlike any other time in our history." Lowery's resume includes experience managing a bank holding company, a commercial contractor and a large development consortium with projects totaling over a billion dollars.

Russell Criminger, a senior officer, has had an extensive career in designing, marketing and selling some of the most exciting and unique communities and projects in the southeast. Criminger adds, "While there is no question that we will ultimately recover from this recession, there is no doubt that the market that emerges will be dramatically different than the one we previously experienced."