Business Details
22 Years
experience
Your Trusted Partner for Multifamily Real Estate Development
McDowell Properties has been raising the standard for apartment investment and development for over 20 years. Our mission is to serve as a best-in-class multifamily platform for investors, lenders, community stakeholders, and residents, driven by values of integrity, excellence, and ingenuity. Our team of seasoned executives averages more than 25 years of experience in the multifamily industry, delivering exceptional, risk-adjusted returns through strategic acquisitions and repositioning of market-rate properties. We specialize in growth markets across the United States, with a parallel focus on addressing housing affordability through our affiliate, McDowell Housing Partners.Our expertise spans the full lifecycle of real estate investment, from acquisition and asset management to construction and compliance, supported by in-house teams that ensure seamless execution. We maintain deep partnerships with local governments and stakeholders to create thriving communities that integrate social, environmental, and economic value. Our entrepreneurial culture enables rapid response to complex opportunities, while our proven track record of managing over $3.6 billion in real estate assets underscores our commitment to long-term, sustainable growth.
Services
Multifamily Investment
Affordable Housing Development
Property Management
Construction Management
Asset Repositioning
Capital Projects
Compliance Management
Design and Pre-Development
Acquisitions
Asset Management
Details
- Year established: 2004
Highlights and features
- We have over 20 years of experience in multifamily real estate investment and development.
- Our executives average more than 25 years of industry expertise.
- We utilize LIHTC programs and public-private partnerships to address housing affordability.
- Our in-house construction management team leverages cutting-edge technology for cost efficiency.
- We maintain deep partnerships with local governments and community stakeholders.
Services
Multifamily Investment
We acquire and reposition market-rate apartment complexes in high-growth U.S. markets. Our strategy focuses on value creation through renovation, intensive asset management, and modernization of underperforming properties. With over $3.6 billion in assets under management, we deliver consistent, risk-adjusted returns for institutional investors by targeting long-term opportunities in multifamily real estate.
Affordable Housing Development
Through McDowell Housing Partners, we develop affordable multifamily communities using LIHTC programs and public-private partnerships. Our projects address housing shortages for low-income families and seniors, incorporating sustainable design and compliance with federal and state regulations. We manage the full development lifecycle, from site selection to construction and stabilization.
Construction Management
Our in-house construction team manages capital projects from design to completion, ensuring cost efficiency and quality control. We utilize drones, digital mapping, and cost-estimating software to optimize timelines and budgets. Services include preconstruction planning, vendor procurement, on-site supervision, and post-construction closeout for both market-rate and affordable housing developments.
Asset Management
We oversee the financial and operational performance of multifamily assets, including stabilized properties and repositioning projects. Our team implements value-add strategies, manages third-party operators, and modernizes amenities to enhance resident satisfaction and asset value. This includes budgeting, financial reporting, and compliance monitoring for both market-rate and affordable housing portfolios.
Compliance Management
We ensure adherence to complex regulations governing affordable housing, including IRS LIHTC requirements and investor reporting standards. Our dedicated compliance team manages tax returns, audits, and certifications for rent-restricted communities, maintaining transparency and accountability across all projects to protect investor interests and meet federal, state, and local mandates.
People
W. Patrick McDowell
Chairman & CEO
Founder and CEO of McDowell Properties and Managing Partner of McDowell Housing Partners. Leads strategic planning and investment committee oversight. Former partner at Fox/Metric and active in industry organizations including NMHC and ULI.
Kenneth Lee
President
President of McDowell Properties and co-founder of McDowell Housing Partners. Oversees investment strategy and capital formation. Formerly at Chase Securities, he holds leadership roles in NMHC and UC Berkeley's Fisher Center for Real Estate.
Christopher Shear
President
President of McDowell Housing Partners, specializing in affordable housing development. Previously held leadership roles in nonprofit and for-profit housing firms. Serves on the Florida Coalition of Affordable Housing Providers and ULI Florida Affordable & Workforce Housing Council.
Manpreet Dhadda
CFO
Chief Financial Officer of McDowell Properties and Managing Director of Corporate Finance for McDowell Housing Partners. Former tax manager at KPMG LLP. Licensed CPA with expertise in real estate financial reporting and compliance.
Jake Gentling
Managing Director of Acquisitions
Responsible for acquisitions, financing, and dispositions at McDowell Properties. Previously with Archstone-Smith and Carmel Partners. Holds an MBA from UC Berkeley's Haas School of Business and active in the Belden Club and ULI.
Questions
What types of real estate does McDowell Properties specialize in?
We specialize in multifamily apartment investments and affordable housing development across the U.S., focusing on market-rate properties for value creation and LIHTC-financed affordable communities.
How does McDowell approach affordable housing development?
Through McDowell Housing Partners, we collaborate with local governments and stakeholders to develop affordable housing using LIHTC programs, tax-exempt bonds, and public-private partnerships to address community needs.
What markets does McDowell Properties operate in?
We focus on high-growth U.S. markets, with a current emphasis on Florida, Texas, and Georgia, while maintaining a national presence through strategic acquisitions and development projects.
How does McDowell ensure quality in construction projects?
Our in-house construction team uses advanced technologies like drones and cost-estimating software, managing projects from design to completion with a focus on efficiency, safety, and quality control.
What is McDowell's investment strategy?
We target underperforming multifamily assets in growth markets, leveraging renovation and intensive management to create value. Our strategy emphasizes long-term returns through strategic acquisitions and repositioning.
How does McDowell handle regulatory compliance for affordable housing?
We maintain a dedicated compliance team to manage IRS LIHTC requirements, investor reporting, audits, and certifications, ensuring adherence to federal, state, and local regulations for affordable housing projects.
