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.

PRP has acquired or built over 17 million square feet of office, medical office, industrial, retail and data centers and approximately 4,000 units of multifamily and condominium properties in 53 investments nationwide. Total aggregate size is $6B+. PRP has made investments through four discretionary commingled funds, SMAs and individual joint ventures across 22 U.S. markets.

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.

Trey O'Shields

Chief Financial Officer

Trey is responsible for all oversight of financial planning and analysis at PRP, financial reporting, tax, audit, and accounting. Trey has over 20 years of experience in real estate finance and accounting in both public and private real estate investment companies.

Prior to joining PRP, Trey served as Chief Financial Officer of Bonaventure a vertically integrated owner, operator, and developer of multifamily communities throughout the Mid-Atlantic. While at Bonaventure, Trey had oversight of FP&A, investor relations, tax, and accounting.  He led all financial capabilities within Bonaventure’s newly formed REIT and was a member of its Board of Directors and Investment Committee. Prior to joining Bonaventure, Trey served as Chief Financial Officer of the Stonebridge Companies, a privately held hospitality owner, operator, and developer. At Stonebridge he led all property, corporate, and tax accounting functions in addition to raising debt and equity capital. Prior to Stonebridge Trey held various finance, treasury, and capital markets roles at UDR (NYSE: UDR) and AIMCO (NYSE: AIV).

Trey received his BSBA International Business from the University of Denver, and an MBA in Finance from the University of Colorado. 

In his free time, Trey enjoys spending time with his wife and 3 nearly grown children, watching his daughters compete in national cheer competitions, visiting his son at OU, and exploring the DMV area.

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.

Jake Ying

Director

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.

Richard Drummond

Director

Richard is responsible for making strategic investments for ground up multifamily developments as well as conversions to multifamily in Opportunity Zones throughout the United States. With over 30 years of experience in the real estate and construction industry Richard has developed and built single family homes, offices, hotels, data centers and multifamily projects. Prior to joining PRP Richard spent the last 20 years as an Executive with various Clark organizations including Clark Global, Clark Realty Capital and CRC Companies.  During that time, Richard developed over 10 state of the art data centers throughout the United States as well as internationally; and over 4,000 multifamily units. 

Richard is active in the Izzac Walton League, a national water and land conservation group and is a member of the Urban Land Institute.  He earned an undergraduate degree from the College of Architecture at the University of Florida and an MBA from The Mason School of Business at William and Mary. Richard is a native Washingtonian and lives in Potomac with his wife and 2 kids.  He enjoys driving his kids to various sporting practices and games and when time permits a round of golf. 

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.

Chris Riley

Director, Asset Management

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 three 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.

Jade Stone

Asset Manager

Jade joined PRP in 2023 and is responsible for asset management activities of the firm’s office portfolio. She has over a decade of experience in institutional asset management and almost two decades of real estate finance experience. When she’s not working, Jade enjoys playing softball, hiking with her dog, fishing, volunteering for Anacostia River restoration efforts, and spending time with her wife and son.

Prior to joining PRP, Jade worked as a valuation specialist for PNC Realty Investors (PRI), where she oversaw the valuation process of fifty core properties valued at over $9 billion. Prior to PRI, Jade was in portfolio management at National Real Estate Advisors and managed the reporting process for over $9 billion in properties located across fifty different U.S. markets. Prior to her time in institutional asset management, Jade spent several years in public accounting, most notably with CohnReznick, and specialized in affordable housing audits.

Jade received her B.S. in Finance and Accounting from the University of Tennessee at Chattanooga. She also has a Master’s in Real Estate from Georgetown University.

Tom Wasko

Director of Acquisitions

Tom joined PRP in 2023 and is responsible for sourcing and executing distressed and opportunistic investments. Outside of the office, Tom enjoys ice hockey, biking, skiing and cooking. A long time watcher of This Old House and The New Yankee Workshop, Tom is frequently working around his house on various projects. He lives in Alexandria with his fiancée and dog.

Prior to joining PRP, Tom was Vice President at Innovatus Capital Partners, LLC, a New York based asset manager. He helped launch the firm’s real estate strategy and acquired over $1 billion in assets in 11 U.S. markets. He started his career in DC with JLL’s Capital Markets team.

Tom received a BS in Industrial and Labor Relations from Cornell University.

Donna Baldree

Director, Property Operations

Donna joined PRP in 2018 and is responsible for residential asset management activities of the firm’s portfolio.  Donna is married with three children and three grandchildren.  She enjoys attending events such as: music, sports, theater, as well as traveling throughout the country.  She has an affinity for animals, currently raising Border Collies and takes pleasure in horseback riding.  Donna played soccer for 13 years and hopes to attend a Nottingham Forrest game in their home stadium of City Ground. Donna has been in residential asset management since 2007.  She has previously worked with companies such as: AIMCO, Drucker & Falk, Bozzuto, and Apartment Dynamics in both North Carolina and Maryland.  Donna is responsible for the day-to-day activities including assessing risks, developing overall sales, marketing and financial objectives while ensuring the teams meet and/or exceed their goals.  Donna is an alumnus of Saint Leo University.

Landon McKenzie

Sr. Associate

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.
Learn More
crossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram