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June 23, 2020 Comments Off on Lowe Launches New Platform to Revitalize Underperforming Retail Assets Views: 1301 California News, Los Angeles, Top California

Lowe Launches New Platform to Revitalize Underperforming Retail Assets

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Los Angeles-based Lowe formed Retail reVision, a new platform that applies Lowe’s decades of experience in real estate, including multifamily, office and hotel properties, to the assessment and repositioning of retail real estate. Lowe named Joel K. Mayer EVP to lead this initiative.

Lowe’s Michael H. Lowe says, “We see this as an opportune time to deploy our multi-disciplined skills to re-envisioning and redeveloping well located, but underutilized and underperforming retail real estate.”

The firm believes underperforming retail properties can benefit from a program that reinvigorates existing retail properties through modernizing and adding new, complementary uses to create a fresh and vibrant environment. Lowe’s team will work with owners as a JV partner, an incentive-fee manager or as an advisor.

Previously, Mayer served as managing director for retail at Rockwood where he oversaw retail property investment, strategy, development, acquisitions, leasing, management and dispositions. Earlier, he was a Director at BlackRock and SVP at California Pizza Kitchen.

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