Joel Murphy

Chief Executive Officer at Preferred Apartment Communities, Inc. (NYSE: APTS)

Joel T. Murphy is the Chairman of the Board and Chief Executive Officer (CEO) of Preferred Apartment Communities, Inc. (NYSE: APTS). Here are some key details about his role and background:

Leadership Position

Joel Murphy has been serving as the CEO of Preferred Apartment Communities since January 1, 2020.1 He was later appointed as the Chairman of the Board, combining both the CEO and Chairman roles.3

Career Experience

Murphy has over 30 years of experience as an executive officer, principal, and advisor in retail and multifamily projects, portfolios, and investments.1 His career highlights include:

Serving as CEO of New Market Properties, LLC (a wholly-owned subsidiary of Preferred Apartment Communities) since September 1, 2014
Chairing the Investment Committee for Preferred Apartment Communities since June 2018
Previously working as President of the Retail Division of Cousins Properties Incorporated from 1995 to 2008

Professional Relationship

Murphy has a long-standing professional relationship with Daniel M. DuPree, the previous CEO and Chairman. They have worked together since 1988, first at New Market Development Company (1988-1992) and then at Cousins Properties Incorporated (1992-2008).1

Leadership Style

When Murphy was appointed as CEO, he was described as a highly respected and seasoned leader known for consistent, creative, and well-executed business strategies and real estate transactions.1 His strengths include:

Commercial acumen
Operational discipline
Ability to attract and retain talent
Strategic executive experience

Company Achievements

Under Murphy's leadership, Preferred Apartment Communities has seen significant growth. In February 2022, the company entered into an agreement to be acquired by Blackstone Real Estate Income Trust, Inc. in an all-cash transaction valued at approximately $5.8 billion.2