SOURCE: Altus Development Company

December 11, 2007 08:00 ET

Veterans of the Real Estate Development and Banking Industries Partner to Form New Real Estate Development Firm in Texas

Altus Development Company, LLC Opens Doors for Business With Goal of Providing a Full Spectrum of Land Development Services to Clients and Investors

BOERNE, TX--(Marketwire - December 11, 2007) - Altus Development Company, LLC, a real estate development firm, announced today that they are open for business.

Altus Development provides a full spectrum of fee-based land development consulting services including market feasibility studies, selection and management of planners, architects, engineers, financial options and strategies, construction management and marketing. Altus provides total development services for businesses seeking to expand their services into new markets, including performing targeted market analyses to assist them in locating the most suitable property for their particular business to reduce risk and maximize the potential for success. Once the property is selected, Altus will work with businesses to ensure facilities are constructed to satisfy their clients' immediate and anticipated future needs. Prior to the construction phase, Altus will offer clients the option to continue under a fee-based structure, to enter into a joint venture, or have Altus arrange for third-party financing. This approach is designed to streamline the development process to facilitate the rapid expansion of clients' business into underserved markets.

Altus Development is seeking mature investors who are looking for safer investment alternatives to the stock market, which will offer higher potential returns than fixed income investments. Altus also seeks to assist owners of undeveloped or underperforming real estate properties who, by utilizing the professional assistance provided by Altus Development, would then be able to realize the full investment potential for their properties.

Altus Development's founders and principals are Parker Atkins and Christopher Knippa.

Parker Atkins is a registered Professional Civil Engineer in the state of Texas. He holds the title of company President and will be responsible for directing all development activities at Altus Development. Mr. Atkins graduated from Texas A&M University in 1986 with a Bachelor of Science in Engineering. He then pursued a Master's of Business Administration at the University of Texas. Most recently, Mr. Atkins was the former Project Director for Elim Valley, a sustainable New Urbanism community, and one of the largest developments in the Western United States, located in Southern Utah. He coordinated the planning and entitlement efforts for Elim Valley, which was entitled for 10,426 residential units, 3,000,000 square feet of commercial, a Robert Trent Jones II golf course, an integrated trail system, an equestrian center, a water park and numerous hotels. Mr. Atkins also has significant experience in managing large construction projects throughout the country.

Christopher Knippa serves as Vice President for Altus Development. His responsibilities include managing all private and institutional lending activities, as well as directing all leasing and property management for office, industrial and retail properties. Mr. Knippa is a graduate of Texas Tech University. He brings a wealth of expertise to the company with over 19 years of real estate, mortgage banking and brokerage experience. He has served in leadership roles with Federal Savings Bank, Network Funding Mortgage, Regions Bank and Gateway Mortgage Company. During his career, he has been responsible for personally originating over $1.5 billion in real estate-related financings. As a result of his varied experience and contacts within the financial community, he is able to generate creative financing solutions for a wide range of real estate ventures.

"The Texas economy has grown more rapidly than the overall U.S. economy over the past decade due to faster population growth. In addition, Texas is relatively more dependent on oil and gas production as well as the tech industry, and the recent strength in these as well as other industries has helped to boost economic growth in Texas. It is our goal to help facilitate this growth," said Parker Atkins, President of Altus Development.

About Altus Development Company, LLC

Altus Development Company is headquartered in Boerne, Texas. The company was founded by Parker Atkins, P.E., and Christopher Knippa, veterans of real estate development, property management, mortgage banking and brokerage. Altus Development is focused on identifying underserved market segments through exhaustive research and satisfying demand through this market based approach to land development. For more information on Altus Development please call 888-805-7999. Parker Atkins can be contacted at patkins@altusdevelopment.com, and Christopher Knippa can be contacted at cknippa@altusdevelopment.com.

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