PRP HIRES JON MCAVOY AS CHIEF INVESTMENT OFFICER
A Seasoned Real Estate Professional Bringing Significant Investment Experience to PRP
WASHINGTON, DC – November 4, 2024. PRP, a real estate investment management company headquartered in Washington, DC, announced today that it has hired Jon McAvoy as its Chief Investment Officer. In this role, Mr. McAvoy will oversee the Company’s investment, development and asset management efforts across all sectors to grow PRP’s portfolio, including Multifamily, Net Lease, Data Centers and Special Situations.
“We are excited to make this important and strategic hire to further build upon our talented team as we embark on an interesting new phase of the commercial real estate cycle,” said Paul C. Dougherty, President of PRP. “Jon is an extremely accomplished commercial real estate professional, and we look forward to benefiting from his expertise as we navigate the evolving real estate investment climate here in the United States.”
Mr. McAvoy commented, “I am excited to join PRP, which is an entrepreneurial and proven team investing and operating assets nationally. Paul and his team have developed PRP into a proven market leader across multiple product lines. PRP is on a clear growth trajectory both in terms of transactions and talent acquisition. I am looking forward to learning from and working with the PRP team as the organization’s national platform continues to excel.”
Jon will be based in Washington, DC. As the CIO, Jon brings 24 years of industry experience with over $3bn closed across more than 30 transactions. Prior to joining PRP, Mr. McAvoy was the Chief Investment Officer at Hofman & Associates. Prior to that, Jon held positions at multiple Fortune 500 corporations, including Fannie Mae, Freddie Mac, Bearing Point and Harman International. His experience includes capitalization, acquisitions, banking operations, multi-national corporate portfolio management, mortgage-backed securities trading, product development and credit analysis.
ABOUT PRP
PRP is a real estate investment management company with a focus on mission-critical corporate headquarters facilities leased to investment-grade companies, logistic facilities, high-street retail properties, multifamily apartment communities, data centers and office properties. PRP’s portfolio of corporate headquarters facilities includes the headquarters for Honeywell, Broadcom, Cencora/AmerisourceBergen, Exxon/Pioneer Natural Resources and FedEx Office, and logistic facilities for Amazon, Lowe’s, Techtronics and VW. PRP is also an active multifamily investor, and active in data centers and Special Situation investing. Founded in 2005, PRP executes value add strategies across all sectors and asset manages a national portfolio of assets on behalf of its institutional investor, family office and financial institution investor partners. PRP manages its apartment investments through PRP REM, its property management subsidiary, which is solely focused on PRP’s portfolio of apartment properties. PRP has proven expertise in selecting and managing attractive risk adjusted real estate investments located in major markets throughout the United States. Since its formation, the company has developed or invested in over 60 assets with a value in excess of
$6 Billion in all property sectors. PRP is privately held and is headquartered in Washington, DC. PRP is a creative buyer and seller of real estate and considers a variety of equity and debt investment structures. For more information on PRP, please visit PRPREI.COM.