HOUSTON, TX--(Marketwired - Jan 15, 2015) - Wood Partners, L.L.C announced today a new generation of leaders groomed from within its ranks will be taking charge as the company prepares to pursue more than $1.5 billion of new development and acquisition opportunities in 2015.
Ryan Dearborn, who has been with Wood Partners since its inception in 1998, is stepping down as chief executive officer, but will remain actively involved as chairman of the board and as a member of the firm's investment committee.
"I believe our culture at Wood Partners, one that values entrepreneurship, ethics and execution excellence, while fostering a family environment, is unique," Dearborn said. "It has provided me, and many others here, with enormous opportunities and exciting challenges. Growth and change are the only constants in this company as we strive to live up to our goal of improving people's lives by creating better communities. It is exciting to see our next generation of leaders take the reins and direct this industry-leading company to greater heights."
Joe Keough, formerly president and chief financial officer, replaces Dearborn as CEO responsible for strategic guidance and oversight of all company operations nationwide. Taking on the role of president is development director Patrick Trask, who will focus his efforts on helping Wood Partners attract financing for this capital-intensive business, while continuing to run the central region. Director and general counsel Sean Reynolds will expand his responsibilities to include chief operating officer.
"I have full confidence that Joe Keough and the rest of our impressive team will continue to manage our company with a steady hand focusing on continued expansion of our business, carefully managing risk for our capital providers and continuing to provide a collaborative and enriching workplace for our employees," Dearborn said.
Added Keough, "I am honored and humbled by the trust Ryan and the board have placed in me. I plan on building upon the strong foundation that Ryan and his predecessors have built. I would like to thank Ryan for his leadership, steadfast loyalty and service to this company for the past 17 years. We look forward to continuing to benefit from Ryan's counsel and advice as chairman of our board and member of our investment committee."
Keough, who joined Wood Partners in 2008, worked along with Dearborn during the challenges of the recession to shepherd the company into the successful and robust enterprise it is today. Since 2010, Wood Partners has been annually recognized as one of the top real estate development firms in the U.S.
In 2010, the firm successfully launched acquisition and property management platforms to diversify its platform and put shovels in dirt to start eight new development projects. Over the past four years, Wood Partners has developed and acquired over $4 billion dollars' worth of multifamily real estate across the country.
About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. It ranks consistently among the top five multifamily developers in the country. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the acquisition and development of more than 53,000 homes with a combined value of more than $8.3 billion nationwide. The company currently owns more than 75 properties with a combined total of 21,000+ units. Wood Partners has offices in 18 major markets nationwide including Atlanta, Austin, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Chicago, Dallas, Denver, Houston, New York, Southern California, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website, www.woodpartners.com and follow our social media accounts, Twitter, Facebook, LinkedIn and Apartment Life Blog.