Founder and Chairman of the Board
In 1972, Lamar’s Founder, Peter Kalkus, recognized that he could realize significant financial appreciation by investing in real estate. Over the years, he established investment syndicates and took advantage of a positive tax law environment to build or refurbish retail shopping centers, apartment houses, offices, housing developments and condominium complexes. In the course of this activity, he hired experts and developed affiliated business entities that surround the business of real estate re-development. An MBA graduate of Harvard Business School and a prior Vice President of DLJ Real Estate and President of DLJ Properties, Inc., Peter was instrumental in creating the philosophies and tactics that the Company still espouses. He led Lamar to numerous successes in the shopping center market, leading to outstanding results for his investors, clients and tenants. He also served as Vice President of the Oliver Tyrone Corporation in Pittsburgh. As times changed and tax laws became less favorable, Peter moved the Company into new ventures. His last syndicated portfolio was 13 shopping centers in eastern Pennsylvania. This experience proved that there was a tremendous opportunity in distressed retail shopping centers that could result in highly profitable retail centers. Today, Peter continues to consult with Lamar as it relates to major strategic decisions and often will review acquisition decisions. Peter continues to serve as the major investor in every Lamar transaction and provides final approval on all investments.