Preferred Apartment Communities


Management Team

Joel T. Murphy

Joel T. Murphy serves as President and CEO of New Market Properties, LLC, a wholly-owned indirect subsidiary of Preferred Apartment Communities, Inc. and served on PAC's Board from September 2014 until May 2015.  Mr. Murphy has over 25 years of experience as an executive officer, principal and advisor in retail and multifamily projects, portfolios and investments.   From January 2009 to the present, Mr. Murphy has served as Chief Executive Officer of Murphy Capital and Advisory Group LLC; from May 2010 to the present, as Managing Partner of Paces Andrews Associates; from January 2011 to December 31, 2013, as Principal of Iron Tree Capital LLC; and from August 2012 to July 31, 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, an Atlanta-based REIT (NYSE: CUZ), and from 1995 to 2008, he served as President of the Retail Division of Cousins Properties Incorporated, as well as a member of its investment committee.  From 1988 to 1992, he was a Partner at New Market Development Company, Ltd., a shopping center management and development company, which owned and managed retail properties primarily in the Mid‐Atlantic and Southeast regions and Texas.  From 1983 to 1988, Mr. Murphy was an attorney in the real estate department at the law firm of King & Spalding LLP.

Mr. Murphy currently serves on the Board of Directors of The Orvis Company and the Advisory Board of Note South Partners LLC, the sponsor of a private equity fund focused on the acquisition of distressed note and real estate assets across all product types.  He previously served as a Trustee of the International Council of Shopping Centers (ICSC) and as an Executive Committee member and Vice President of ICSC's Southern Region; a past member of the Board of Visitors of the University of North Carolina at Chapel Hill; and as a past member of Young Presidents Organization (YPO).  Mr. Murphy received his J.D. from the University of Georgia School of Law where he was a member of the Law Review, and his BA with a major in Economics (Phi Beta Kappa) from the University of North Carolina at Chapel Hill.