WASHINGTON, D.C. – November 4, 2024 – PRP, a real estate investment management company headquartered in Washington, D.C., 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 in the United States.”
Mr. McAvoy commented, “I am excited to join PRP, which is an entrepreneurial and proven team investing in 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 look forward to learning from and working with the PRP team as the organization’s national platform continues to excel.”
Mr. McAvoy will be based in Washington, D.C. As chief investment officer, he brings 24 years of industry experience, with more than $3 billion closed across over 30 transactions. Prior to joining PRP, Mr. McAvoy served as chief investment officer at Hofman & Associates. Earlier in his career, he held positions at multiple Fortune 500 corporations, including Fannie Mae, Freddie Mac, BearingPoint, and Harman International. His experience includes capitalization, acquisitions, banking operations, multinational corporate portfolio management, mortgage-backed securities trading, product development, and credit analysis.