EFFECT ON FIRM’S HEALTHCARE PROJECTS, ASSETS IS NOT KNOWN AT THIS TIME
By John Mugford
It is not clear how Lauth’s financial troubles might affect its medical projects,
such as Fort Norfolk Plaza in Norfolk, Va., which is under construction.
Rendering courtesy of Lauth Property Group
Just a couple of years ago, Indianapolis-based Lauth Group was flying high in the world of commercial real estate development. Commercial Property News ranked the company as the 13th largest developer in the country in 2007.
A year earlier, in 2006, it completed a staggering $592 million worth of projects. That was quite a substantial increase from the $143 million worth of projects the company completed in 2005.
During those halcyon days, the privately owned company more than doubled its staff in just more than a year, going from 168 employees in 2006 to about 450 in 2008. Revenues more than doubled two years in a row as well, first from 2004 to ’05, and then again from 2005 to ’06.
In addition to the headquarters in Indy, there were branch offices in Dallas; Denver; Charlotte, N.C.; Orlando, Fla.; Phoenix; and Pittsburgh.
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