Industry-Leading
Experience

Industry-Leading
Experience

Paul C. Dougherty

President/Chief Investment Officer

Paul is the President and Chief Investment Officer of PRP, the private real estate alternative investment firm he founded in 2005. As such, he is responsible for the general oversight of the firm as well as for PRP’s commingled funds and separate accounts. In his role as President, Paul leads the company’s strategic growth, managing its daily business operations, setting corporate strategy and maintaining and building relationships with the firm’s stakeholders: lenders, investors and advisors.

For the past 30 years, Paul has structured investments with an asset value of over $20 billion. PRP’s four commingled discretionary investment funds and separate account investment vehicles have invested in $4 billion in real estate investments across 17 U.S. markets. This portfolio includes 5 million square feet of single-tenant and multi-tenant office, medical office, logistics, retail and data centers, and over 5,000 units of multifamily, condominium and assisted living properties. PRP’s investments are owned in commingled real estate funds and separate accounts with institutional investors.

Prior to forming PRP, Paul was Managing Director of the Eastern Region of CBRE Capital Markets. While at CBRE, Paul founded CBRE Realty Finance (NYSE: CBF), a commercial real estate mortgage REIT. Before that, he was the founder and National Director of the Finance & Capital Markets Group for Insignia/ESG, Inc., where he led a national team of real estate investment bankers involved in the project financing, bond financing, joint venture equity structuring and project development financing of investment-grade office, retail, industrial, lodging and multi-family projects. CBRE acquired Insignia/ESG in 2001. Paul started his career in 1987 at Barnes, Morris & Pardoe in Washington, DC, a company that was acquired by Insignia/ESG in 1997.

Paul was a founding director and formerly served as a member of the Director’s Loan Committee for the Bank of Georgetown. Additionally, he formerly served as a Board member of the Children’s National Hospital, the Board and the Executive Committee of the Children’s National Hospital Foundation, the Board of the Starlight-Starbright Children’s Foundation Mid-Atlantic, and a founder and former Board member of the First Tee of Washington, DC. Paul is an active member of the Economic Club of Washington, the Federal City Council, and multiple real estate trade organizations.

Paul is an alumnus of the University of Southern California and American University and holds a certificate in Real Estate Management; Finance, Design and Leadership from the Harvard University Graduate School of Design.   

When he’s not spending his time with his kids Luke and Cate or enjoying a great meal, Paul spends his free time golfing, gardening, hiking, skiing, fly fishing and tending to his koi pond.

Richard Romar

Chief Operating Officer/Chief Financial Officer

Rick joined PRP in 2010. He’s responsible for leading a team that oversees all reporting and analysis, as well as the day-to-day operations for the funds and the firm. He also serves as a member of PRP’s Investment Committee. A family man and avid basketball fan, Rick also enjoys spending time hiking and playing golf.

Rick has more than 25 years of experience in financial management, reporting and analysis, accounting operations, business planning and strategy, venture negotiations and structuring, tax structuring, forming off-shore blockers and Sharia-compliant finance. Prior to joining PRP, Rick was Chief Financial Officer of BV Group Ventures, a firm with investments in private equity, fund of funds and real estate. BV’s real estate investments included 28 operating properties and three development projects totaling more than 6MM square feet leased primarily to the GSA, owned directly or through joint ventures. Earlier in his career, Rick served as Chief Financial Officer of Venturehouse Group, a Washington, DC–based investment firm, CFO of the consulting division of KPMG, held several senior financial roles with NYNEX Corporation (now Verizon) and began his career on the audit staff in the New York office of PricewaterhouseCoopers.

Rick received his BS in Accounting from Syracuse University, an MBA in Strategic Business from Pace University and is a Certified Public Accountant.

Tamara Axelrod

Director, Asset Management

Tami Axelrod oversees asset management for PRP. With more than 12 years of commercial real estate experience, she works with PRP’s staff on asset oversight, budgeting and investor reporting. Tami is a movie lover and avid traveler, and in her free time, she enjoys spending time in Washington, DC, with her husband and daughter.

Prior to joining PRP, Tami worked for the Montgomery Housing Partnership (MHP), where she oversaw all aspects of renovation projects owned by the organization from inception to completion — including securing financing and evaluating the feasibility and redevelopment potential of properties within the organization’s existing portfolio. Prior to her time at MHP, Tami held various positions with Bonaventure Realty Group, including positions in compliance, acquisitions and asset management.

Tami received her BA from the University of Pittsburgh and a Masters in Real Estate Development from the University of Maryland.

Stephen Muller

Managing Director/Investment Director

Steve joined PRP in 2014 and is responsible for sourcing and executing office investments. He serves as a member of PRP’s Investment Committee. Steve enjoys skiing, playing golf, Peloton cycling and eating Tex-Mex cuisine. On weekends, he likes to watch the NY Giants and read The Sunday Times.

Steve has more than 30 years of experience acquiring, leasing, managing, developing and redeveloping more than 2.5MM square feet of office and multifamily — including 1301 K Street, 1001 Pennsylvania Avenue, the XM Satellite Radio headquarters and Fairway Park.

Prior to joining PRP, Steve was Founder and Managing Principal of Union Realty Partners and Vice President and Regional Manager for Prentiss Properties. Steve is past Chairman of the Franklin Square Association and past Director of both the DC Building Industry Association and Action 29-New York Avenue Metro Station, a public–private venture created to finance the new metro station.

Steve received his BS from Babson College and an MBA from Columbia University.

Richard Smith

Development Executive

Richard joined PRP in 2014. He’s responsible for sourcing and executing multifamily investments and serves as a member of PRP’s Investment Committee. Richard has two daughters — Sarah and Eliza — both recent college grads now working in Nashville and Washington, DC. He likes to spend time sailing, skiing, cycling, playing tennis and hiking and camping with his two dogs. He’s also renovated a number of old houses and boats and has a home for retired horses on his farm in Virginia.

Richard has more than 25 years experience developing and stabilizing $1B of multifamily (4,000 units) and mixed-use projects, as well as three office-to-residential conversions with a total cost of $240MM.

Prior to joining PRP, Richard was Senior Vice President for Vornado/Charles E. Smith, where he directed DC residential development and planning. He also founded Piedmont Ventures and worked as Managing Director at Capital Properties. Richard is a member of ULI and is on the Board of Directors of the Montgomery Housing Partnership.

Richard received his BA from Vassar College and an MBA with a concentration in Finance from Georgetown University.

Joseph Neckles

Managing Director

Joseph Neckles is a Managing Director with PRP and focuses on originating single-tenant office and industrial acquisition opportunities for the company’s investment vehicles. He works out of PRP’s New York City office at 800 Third Avenue, which he opened in 2018. He lives in Rye, New York, with his wife Maureen and three young daughters. Outside the office, Joe enjoys long-distance running, and has finished two marathons — one in NYC and one in Harrisburg, PA.

Prior to joining PRP, Joe was a Vice President at VEREIT, Inc. (NYSE: VER) focused on single-tenant office and industrial investments. Prior to VEREIT, he spent ten years in various roles at Lexington Realty Trust (NYSE: LXP). Throughout his career, which spans more than 14 years, Joe has been responsible for sourcing, underwriting and structuring direct equity, joint venture, sale leaseback and build-to-suit transactions nationwide. During that time, he has executed more than $1.1 billion in commercial property acquisitions across the United States.

Joe received his BA from Fordham University and a Masters in Real Estate Finance and Investment from New York University.

Jake Ying

Associate

Jake joined PRP in 2015 and is responsible for the firm's acquisitions, development and asset management activities. In his free time, he enjoys playing soccer and hanging out with his pug.

Prior to joining PRP, Jake was an Analyst at Greysteel, a commercial real estate brokerage firm. Jake was responsible for underwriting more than 150 multifamily investment sales properties in the Mid-Atlantic region while at Greysteel.

Jake received his BS in Accounting & Finance from Syracuse University and a Master of Accounting from William & Mary.

Chris Riley

Assistant Director

Chris joined PRP in 2020 and is primarily responsible for the asset management activities of the firm’s office portfolio. When he’s not working, he enjoys soccer, running, biking, skiing and spending time with his wife and two kids.

Prior to joining PRP, Chris worked as an Associate in Cushman & Wakefield’s Capital Markets Group, where he participated in over $3 billion worth of investment sales transactions. Prior to Cushman & Wakefield, Chris was a Senior Associate in the audit and assurance practice at PricewaterhouseCoopers.

Chris received his BS in Accounting from the University of Maryland. He holds his Real Estate License in DC, MD and VA and is a Certified Public Accountant.

Ben Vick

Associate, Acquisitions

Ben Vick joined PRP in 2021. He is responsible for sourcing and executing investments, and assisting with asset management. Outside the office, Ben enjoys golfing, strength training, and anything that gets him outdoors.

Prior to joining PRP, Ben worked as an acquisitions and asset management associate at a regional investment firm with commercial real estate holdings in Washington, DC, Maryland and Virginia. Before that, he served as associate general counsel at a Northern California investment firm with real estate and restaurant assets located across the country. Throughout his career, Ben has been responsible for evaluating and executing a wide variety of complex commercial transactions.

Ben received his BA from Santa Clara University, where he graduated Phi Beta Kappa. He also received a JD from Boston University School of Law and an LLM in Taxation from Georgetown University Law Center.

Bjarki Juliusson

Controller

Bjarki joined PRP in 2019 and is responsible for the reporting and analysis of the firm’s office and residential portfolio. Bjarki enjoys playing golf and playing guitar. He’s a close follower of the English Premier League and is working on reading his way through the entire Stephen King bibliography.

Prior to PRP, Bjarki worked as Project Accountant for JBG Smith, where he prepared and reviewed monthly financial statement reporting packages for Legacy Vornado assets. Before JBG Smith, Bjarki oversaw residential portfolios as a Portfolio Accountant at Pinnacle Property Management Services.

Bjarki received his BS in Accounting from the Florida Institute of Technology in Melbourne, Florida.

Landon McKenzie

Financial Analyst

Landon joined PRP in 2020 and is responsible for the firm’s acquisitions and asset management activities. Outside the office, Landon likes to play golf, surf and snowboard.

Prior to joining PRP, Landon interned as an analyst for Atollogy, an integrated technology start-up company in Silicon Valley. Landon was responsible for analyzing market expansion opportunities. While working with Atollogy, he participated in deals which resulted in doubling the company’s valuation. 

Landon has a BA from Dartmouth College, where he was also a member of the men’s lacrosse team.

Colleen Ramsey

Office Manager

The newest member of the PRP team, Colleen joined the firm in September of 2020 as Office Manager. She brings more than 20 years of executive experience to the firm and is responsible for overseeing the day-to-day functions of the office as well as supporting all team members in their varied roles.

When Colleen isn’t working, she enjoys watching her son play baseball for the University of Maryland. She loves reading mystery novels and motivational books — usually alongside a big cup of coffee on weekends. Colleen credits her passion and motivation to her daily morning fitness routine, and she tries to start every day with fresh air. Above all, her family is her support system, and she values the time she spends with them walking, exploring new places and eating meals — as well as the occasional post-dinner Scrabble game.

Prior to joining PRP, Colleen managed a tax law firm and worked as an account manager for Pacific Life Wholesalers.

Our Community

PRP is committed to being a positive force in the communities in which we live and operate. Our employees are proud to give their time, talents and resources to local and national causes, and PRP helps to provide tools and programs to support this community engagement. PRP has worked extensively with the following organizations: Children’s National Medical Center, Montgomery County Coalition for the Homeless, DAR (Daughters of the American Revolution) and Make-A-Wish Foundation.
We are a cross-disciplined team with an average of 25 years in institutional capital management.
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