Lowe appoints head of Los Angeles area commercial real estate, Martin Caverly, as 30 Lowe veteran and current leader Tom Wulf takes leave.
LOS ANGELES, March 22, 2024 /PRNewswire-PRWeb/ -- Lowe, a leading national real estate investment, development and management firm, has tapped Martin Caverly to lead the company's commercial and multifamily real estate activities in the greater Los Angeles area, assuming responsibility for ongoing investment, development and management activities. A Lowe executive vice president who joined the firm seven years ago, Caverly has been instrumental in the growth and expansion of the company's commercial property management subsidiary, Hospitality at Work®. Caverly steps in as 30-year Lowe veteran, executive vice president Tom Wulf, steps back from his leadership role for the region.
"Marty is a respected and talented leader with 30 years of experience in the real estate industry," said Mike Lowe, co-CEO of Lowe. "We are confident in his ability to continue Lowe's successful investment, development and operating platforms while seeking growth opportunities in the Los Angeles area."
"Tom is an accomplished leader with a long track-record of innovative real estate developments to his credit and has been an active contributor to Lowe's growth and success throughout his career with the company," said Rob Lowe, co-CEO of Lowe. Recently Wulf completed the eight-year development of the acclaimed Ivy Station in Culver City, a landmark mixed-use property that is a prime example of the firm's expertise tackling large, complex development opportunities to create environments that respond to the needs of the community.
"Lowe is actively seeking new commercial investment and development opportunities in the greater Los Angeles market, with a focus on institutional quality mixed-use development sites similar to our Ivy Station project, as well as single assets that can benefit from the type of hands-on improvements an experienced developer and operator like Lowe can provide," said Caverly.
"Tom has positioned Lowe's Los Angeles team for continued success, and I am honored to assume responsibility for advancing the strategies and goals he has established," added Caverly. "We are entering a phase of both uncertainty and growth in commercial real estate, the type of environment in which Lowe has historically exceled throughout its more than 50-year history."
Hospitality at Work Organization
Caverly will continue in his role as national office platform leader for the firm, but as he broadens his responsibilities, two long time senior executives of Lowe's Hospitality at Work subsidiary will assume expanded duties to support him in his new role. "Daisy Gauck and T.J. Tarbell will undertake responsibility for much of the daily oversight and management of Lowe's Hospitality at Work platform. Their willingness to extend their talent, time and effort is key to my ability to take on this new role," noted Caverly.
Lowe's notable projects in the greater Los Angeles. area include the popular Ivy Station mixed-use development adjacent to the Culver City Metro E Line station; the 2130 Violet St. next-gen office building and The Garey apartment community in downtown L.A.'s arts district; and the stunning oceanfront Terranea Resort in Rancho Palos Verdes.
About Lowe
Los Angeles-based Lowe, formerly known as Lowe Enterprises, is a leading national real estate investment, development and management firm. Over the past 51 years, it has developed, acquired or managed more than $36 billion of real estate assets nationwide as it pursued its mission to build value in real estate by creating innovative, lasting environments and meaningful experiences that connect people and place. Lowe currently has more than $2 billion in commercial real estate projects in the pipeline or under development. In addition to its Los Angeles headquarters, Lowe maintains regional offices in Southern California, Northern California, Charleston, Denver, Seattle, and Washington, DC. For more information visit www.Lowe-RE.com.
Media Contact
Karen Diehl, Diehl Communications, 1 3107419097, [email protected], diehlcommunications.com
SOURCE Lowe
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