Chris Riley's Contact Details

Chris Riley's Company Details

PRP Real Estate Investors

Washington, DC, US • 20 - 49 Employees
Real Estate

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 37 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.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. Founded in 2005 by Paul Dougherty, PRP has acquired or built approximately $1.5 Billion real estate investments.PRP seeks to protect investor capital and improve value-Current and future cash flow ultimately determines an asset's value-Low property basis, property location and asset quality are paramount in the screening process-Rigorous due diligence-Conservative cash flow projection assumptions-Detailed assessment of possible downside scenarios-Strategies that are successful irrespective of current market and economic cycles-Focus on deriving profit from executing business plans on a property-by-property basis – whether turning around a distressed asset or repositioning a property-No reliance on momentum-based strategies to drive returnsicon-image-Risk-controlled, diversified portfolio is pursuant to specific investment guidelines intended to lower risk by limiting concentrations in certain sectors-Targeting smaller, middle market transactions provides diversification in the number of investments ultimately acquired-Prudent Use of Leverage & Focus on Exit Strategies-Focus on properly structuring the appropriate leverage on each investment is critical-No reliance on excessive leverage or financial engineering to manufacture returns-Acquire high-quality and well-located assets with appeal for a wide array of ultimate buyers-Focus on projects with multiple exit strategies, including private one-off sales, portfolio sales within common asset classes or recapitalization