WASHINGTON, DC – April 29, 2025 – PRP, a real estate investment management company headquartered in Washington, DC, announced today that it has formed an Advisory Board to assist the company’s management team as PRP continues to expand its platform. The initial members of the Advisory Board are Scott Brown, Denise Olsen, and Caleb Kramer.
Mr. Brown is the founder and CEO of Fulcrum Global Investors. Mr. Brown has been a successful real estate investor and developer since 1984. Prior to founding Fulcrum Global Investors, Mr. Brown was Global President & Chief Executive Officer of Cornerstone Real Estate Advisors (formerly Barings). When he joined Cornerstone in 2014, Cornerstone had $42B in AUM with one dominant region (the U.S.). When Mr. Brown departed in 2019, Cornerstone’s AUM exceeded $57B, the European business was built out and established, and the Asia-Pacific real estate business had been started. During Scott’s leadership, Cornerstone was one of the only truly four quadrant global REIMs in the world. Mr. Brown is on the Board of NAREIM, is the NAREIM Treasurer, and was previously a Board member of NCREIF. He holds a bachelor’s degree in economics from the University of Massachusetts Amherst, a master’s degree in real estate development from Columbia University, and holds the CFA Charter.
Ms. Olsen is a seasoned public company board member and accomplished business building executive who leverages expertise gained from over 30 years in the investment management industry across the private and public markets of real estate, data infrastructure, credit, and liquid alternatives. Currently, Ms. Olsen is a board member of First Industrial Realty Trust (NYSE: FR) and serves on the Investment Advisory Committee of The Harry and Jeanette Weinberg Foundation. Formerly, Ms. Olsen was a board member of CyrusOne, Inc. (Nasdaq: CONE), which was sold to KKR and GIP in a $15 billion public-to-private transaction in 2022. Ms. Olsen’s career spanned over two decades at GEM Realty Capital, an investment management firm that invests in diversified real estate opportunities across the private and public markets. As a senior partner, Ms. Olsen led business development and capital formation activities and was a longstanding member of GEM’s investment committee. Earlier in her career, Ms. Olsen had investment roles at JMB Realty Corporation and EVEREN Securities. Ms. Olsen received her Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania.
Mr. Kramer most recently served as the Portfolio Manager at Oaktree Capital Management, LP, an asset management firm based in London and active globally. In his directorial capacity, he managed the firm’s European distress-for-control and special situation private equity investments. He joined the firm in 2000 as Managing Director, Principal Funds, before being promoted in 2005. Mr. Kramer began his career in finance at Merrill Lynch and as an Associate in Mergers and Acquisitions with Dillon Read & Co., Inc. He went on to work for Archon Capital Partners before eventually co-founding his own private equity investment firm, Seneca Capital Partners, LLC. Mr. Kramer served on the Board of Directors for Campofrio Food Group, SA, from 2008-2013. He earned his bachelor’s degree in economics from the University of Virginia.
Paul C. Dougherty, President of PRP, stated, “We are thrilled to have Scott, Denise and Caleb join our Advisory Board. All are incredibly tenured and successful real estate and investment management professionals that will complement our executive team as we navigate an ever evolving and complicated real estate and capital markets landscape. Their extensive experience in various executive leadership roles and on the boards of publicly traded REITs and private companies will enhance our strategic endeavors toward building value for all of PRP’s stakeholders. We are honored to have these individuals as part of our growing PRP team and look forward to their counsel.”
Ferguson Partners, a firm specializing in Board and executive recruitment in the real estate industry, advised PRP in this recruitment effort. PRP was represented by Bill Ferguson and Michelle Goldstein of Ferguson Partners.
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.
CONTACT: Colleen Ramsey
PRP, LLC
202-741-8400
WASHINGTON, DC – April 1, 2025 – PRP announced its acquisition of Cosmopolitan on the Canal, a 218-unit Class A multifamily property located along the Central Canal in downtown Indianapolis, Indiana.
Cosmopolitan on the Canal is a well-designed institutionally maintained apartment community offering residents modern amenities, spacious layouts, and direct access to the city's most dynamic employment, education, and entertainment districts. Situated in the heart of Indianapolis' Canal Walk District, the property combines waterfront living with a highly walkable location.
Originally constructed in 2010, the community's interiors remain in their original condition and will undergo a comprehensive renovation to deliver an elevated living experience for both current and future residents.
“This acquisition reflects our continued strategy of investing in high-quality multifamily communities in growth-oriented U.S. markets,” said Jon McAvoy, Chief Investment Officer of PRP. “Indianapolis is experiencing continued strong economic momentum driven by billions of dollars of infrastructure, education, and medical investment. We are thankful for the professionalism of seller team enabling an efficient transaction and firmly believe Cosmopolitan will continue to excel within the PRP portfolio for years to come.”
The property sits between two of downtown Indianapolis’ most significant developments: the $4.3 billion Indiana University Health expansion—one of the largest hospital projects in the nation—and the bifurcation of IUPUI into Indiana University Indianapolis and Purdue University in Indianapolis, both of which are actively growing their campus footprints just blocks from the property.
Cosmopolitan on the Canal is PRP’s latest multifamily acquisition and exemplifies the firm’s approach of targeting the combination of core locations with strong demographic and economic fundamentals and properties in need of modernization and resident-focused enhancements. The property’s waterfront setting, amenity offerings, and proximity to market-leading employment centers make it a premier rental community in Indianapolis.
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 include the headquarters for Honeywell, Broadcom, Cencora/AmerisourceBergen, Pioneer Natural Resources and FedEx Office, and logistic facilities for Amazon, Lowe’s, Techtronics and VW. Founded in 2005, PRP executes value add strategies and asset manages a national portfolio of assets on behalf of its institutional investors, family offices and financial institutions. 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 invested in 56 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.
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.
A Seasoned Professional Bringing Significant Net Lease Investment Experience to PRP
WASHINGTON, DC – MAY 22, 2024. PRP, a real estate investment management company headquartered in Washington, DC, announced today that it has hired Elliott “EJ” Wislar as Managing Director of Net Lease Investments. In this role, Mr. Wislar will be focusing on overseeing and growing PRP’s portfolio of Net Lease investments for PRP’s balance sheet.
“We are excited to make this important 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. “EJ 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. Wislar commented, “PRP has an impressive Net Lease investment history, having developed or acquired over $3B and 12.5MM SF of investment-grade Net Lease properties in the logistic, manufacturing and office sectors. I am excited to join PRP at this exciting time in our industry and look forward to leveraging my experience in the sector to take advantage of what will certainly be an incredible investing opportunity in the coming cycle.”
EJ will be based in Washington, DC. He brings 11 years of industry experience with over $2B closed across more than 100 transactions. Prior to joining PRP, Mr. Wislar was the Chief Investment Officer for Gladstone Commercial Corporation, a Nasdaq-listed Net Lease REIT. Prior to Gladstone Commercial, Mr. Wislar held investment and lending positions with Prudential Global Investment Management (“PGIM”) and United Bankshares.
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 include the headquarters for Honeywell, Broadcom, Cencora/AmerisourceBergen, Exxon/Pioneer Natural Resources and FedEx Office, and logistic facilities for Amazon, Lowe’s, Techtronics and VW. Founded in 2005, PRP executes value add strategies and asset manages a national portfolio of assets on behalf of its institutional investors, family offices and financial institutions. 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 invested in 56 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.
CONTACT:
Colleen Ramsey
PRP, LLC
202-741-8400