Joel T. Murphy has served as Chief Executive Officer of Preferred Apartment Communities, Inc. since January 1, 2020 and as a Board member since May 2019. He previously served as Chair of the Preferred Apartment Advisors' Investment Committee from March 2019 to December 2019, and as a member of the Board from September 2014 to May 2015. Mr. Murphy has also served as Chief Executive Officer of New Market Properties LLC, a wholly-owned indirect subsidiary of PAC, from September 2014 to present.
Mr. Murphy has over 30 years of experience as an executive officer, principal and advisor in retail and multifamily projects, portfolios, and investments. From January 2009 to present, Mr. Murphy has served as Chief Executive Officer of Murphy Capital and Advisory Group LLC; from May 2010 to present, as Managing Partner of Paces Andrews Associates; from January 2011 to December 2013, as Principal of Iron Tree Capital LLC; and from August 2012 to July 2014, as Chief Executive Officer of Iron Tree Retail LLC. From 1992 to 1995, Mr. Murphy served as the Director of Development of Cousins Properties Incorporated (NYSE: CUZ), and from 1995 to 2008, he served as President of its Retail Division, as well as a member of the investment committee. From 1988 to 1992, he was a partner at New Market Development Company, a shopping center management and development company; and from 1983 to 1988, he practiced commercial real estate law with the Atlanta law firm King & Spalding where he represented shopping center, apartment, and hotel developers and investors.
Mr. Murphy is a Phi Beta Kappa graduate of the University of North Carolina at Chapel Hill and a Law Review graduate of the University of Georgia School of Law. Mr. Murphy is on the Board of Directors of The Orvis Company where he also serves as the Chair of the Governance and Nominating Committee. He also currently serves as Chair of the Board of Trustees of Westminster, a K-12 independent school located in Atlanta, Georgia. Mr. Murphy serves as a past trustee of the International Council of Shopping Centers (ICSC), is an active member of the Urban Land Institute (ULI), a former member of the Board of Visitors of the University of North Carolina at Chapel Hill, and a past member of Young Presidents Organization (YPO).