Over the years, PRP has acquired or built 4 Million square feet of office, medical office, industrial, retail and data centers and nearly 4,000 units of multifamily, condominium and assisted living properties in 40 investments. Headquartered in Washington, D.C., PRP executes value-add strategies and manages a national portfolio of multifamily properties that it owns in commingled funds and separate account partnerships with institutional investors.
Founded in 2005 by Paul Dougherty, PRP has acquired or built approximately $3 Billion real estate investments in 17 different markets nationwide.
PRP’s approach to unlock value focuses on a fundamental approach of modernizing properties by correcting physical issues, implementing a renovation strategy while improving operations through new management and leasing initiatives. The goal of our restore to core approach delivers higher rents as a direct result of these efforts. PRP has a keen focus on utilizing the most appropriate capital structures at acquisition, relying on moderate levels of non-recourse financing with terms and durations tied to the specific business plan for each asset with a leverage target of 65% of total project costs. Our deep relationships with both banks and institutional Limited Partners ensure we achieve the lowest cost of capital available in the industry.