Listed below is the senior management team at Preferred Apartment Communities, Inc. To view members of the Board of Directors and various committees, please visit our Board of Directors section.

Joel T. Murphy, President and Chief Executive Officer

Joel T. Murphy has served as President and 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).

John Isakson, Chief Financial Officer

John A. Isakson, Chief Financial Officer of Preferred Apartment Communities, has spent his entire professional career in the real estate industry. He has a broad depth of knowledge of both the private and institutional side of the industry in acquisitions, dispositions, finance, and asset management. Prior to his role at PAC, Mr. Isakson was a founding partner of Williams Asset Management, along with John Williams in January 2006. Williams Asset Management was an investment and asset management firm that ran a private equity fund from 2006 to 2013. Mr. Isakson also served as CEO of Tarpon Development, LLC – a company he co-founded in 1999. Prior to starting Tarpon Development, Mr. Isakson served as vice president of finance for Julian LeCraw & Company, and as a loan officer for Wachovia Bank financing real estate assets in various sectors. In his roles, he has raised equity and debt and closed on transactions with a wide-range of financial instruments – from traditional construction and acquisition financing, to sophisticated bond and tax credit financing. He has participated in transactions ranging from the acquisition and renovation of properties and the construction of high-rise apartments, to the refinancing and repositioning of a variety of apartment communities. Throughout his real estate investment career, Mr. Isakson has participated in transactions representing over 22,000 units and a total capitalization of over $2 billion. He earned a masters in economics from The University of Georgia in Athens and a bachelor’s degree in economics from Tulane University in New Orleans.

Michael J. Cronin, Chief Accounting Officer and Treasurer

Michael J. Cronin has worked as Chief Accounting Officer and Treasurer since its formation in 2009. Mr. Cronin has served in various capacities since joining Williams Realty Advisors, LLC in December 2005, most recently as Chief Financial Officer since October 2008. Prior to joining Williams Realty Advisors, Mr. Cronin served as Vice President of Morgan Stanley Real Estate Advisors from February 2004 to December 2005. Mr. Cronin was the Chief Financial Officer of Hatfield Philips, a commercial real estate company, for three years prior to joining Morgan Stanley Real Estate Advisors. In total, Mr. Cronin has over 25 years of accounting, reporting, and finance experience in the real estate field. He is a CPA and holds bachelors and master’s degrees in accounting from the University of Georgia in Athens.

Jeffrey R. Sprain, Executive Vice President, General Counsel and Secretary

Jeffrey R. Sprain has served as Executive Vice President, General Counsel and Secretary of Preferred Apartment Communities, Inc. since 2012. Prior to that time, he served as Legal Counsel and Secretary since the Company’s formation in 2009. Mr. Sprain has over 15 years of experience in the real estate industry, including serving as legal counsel of Williams Realty Advisors, LLC and Corporate Holdings, LLC. Mr. Sprain previously served as an associate at the law firm Faegre & Benson, LLP and as an associate at the law firm Kilpatrick Stockton, LLP. He served four years as an officer on active duty in the United States Air Force. Mr. Sprain serves on the Advisory Council of the Andrew P. Stewart Center and has served on the Board of Directors for the Minnesota Justice Foundation and the Loan Repayment Assistance Program of Minnesota. Mr. Sprain’s practice has focused on public and private securities offerings, securities regulation, general corporate counseling, mergers and acquisitions, leveraged buyouts, mezzanine lending, and secured and unsecured private debt financings advising both publicly held and privately held clients, in a variety of industries, including real estate. Mr. Sprain received his law degree from the University of Minnesota in Minneapolis where he graduated magna cum laude and order of the coif, and bachelor’s degree in electrical and computer engineering from the University of Wisconsin-Madison in Madison.

Jeffrey D. Sherman, President - Multifamily

Jeff Sherman serves as President – Multifamily for Preferred Apartment Communities where he is responsible for multifamily operations including investments, asset management and property management. During his over 15 year tenure in real estate, Mr. Sherman has overseen the acquisition and development of more than $2.5 billion of multifamily and mixed-use projects across the Southeast and Midwest. Additionally, Mr. Sherman has structured mezzanine debt for over $2 billion in ground-up multifamily development. His experience encompasses a broad array of product types including conventional multifamily, student, LIHTC and condominiums. Mr. Sherman studied finance and management information systems at the University of Georgia in and also holds a Master’s degree in real estate from Georgia State University.

Paul Cullen, Executive Vice President, Investor Relations

Paul Cullen serves as Executive Vice President, Investor Relations of Preferred Apartment Communities and previously served as Chief Marketing Officer since its formation in 2009. Mr. Cullen has over 12 years of experience in marketing, brand development and communication strategy. He previously served as Vice President of City Centre Properties, LLC, a real estate development company, from 2005 until 2009. Mr. Cullen received a bachelor’s degree with honors in business and marketing from the Dublin Business School in Ireland.

Boone DuPree, President - Office

Boone leads Preferred Office Properties, a wholly-owned indirect subsidiary of Preferred Apartment Communities, Inc. (NYSE: APTS) overseeing day-to-day operations of the business and leading strategic initiatives and new investment efforts. Prior to joining the company, Boone served on the investments team at Cousins Properties (NYSE: CUZ), a $5B real estate investment trust based in Atlanta, Georgia. While at Cousins, Boone executed more than $2B of Class A office acquisitions and $600MM of office and mixed-use development starts across the Southeast and Texas. Before Cousins, Boone worked with Boston-based real estate fund and investment advisor Roseview Partners.

Carl Y. Dickson, Executive Vice President, Asset Management - Office

Mr. Dickson serves as Executive Vice President of Asset Management for Preferred Office Properties. In this role he oversees all leasing, property management and capital expenditure activity for the Company’s operating portfolio, as well as in support of new investment opportunities. Mr. Dickson has 25 years of commercial real estate experience. Prior to joining Preferred Office Properties, he led the Asset Management team for Cousins Properties (NYSE: CUZ) where he was responsible for 8.5 million square feet and played a key role in developing and managing the execution of annual leasing, profitability and capital expenditure objectives across the portfolio.

Mr. Dickson holds a B.S. in Accounting and Finance from Florida State University in Tallahassee, Florida.

Jason Frost, Executive Vice President, Development - Office

Mr. Frost serves as Executive Vice President of Development for Preferred Office Properties, where he brings more than 20 years of expertise in all aspects of development including design, entitlement, construction, sales/leasing and marketing. Previously, he served as a development executive for Cousins Properties (NYSE: CUZ) from 2005-2018 and was part of the company’s acquisition of The Gellerstedt Group, a real estate firm specializing in multi-family residential projects. He has primarily focused on office and mixed-use projects in Georgia, North Carolina and Texas. Prior to joining The Gellerstedt Group in 2004, Jason served as a project manager for Hardin Construction in Atlanta, where his projects included a range of mixed-use, multifamily, industrial and commercial developments. During his career he has worked on projects with a total value of $1Billion+, which includes 1,000,000+ square feet of office space, 1,000+ units of multifamily residential and 100,000+ square feet of mixed-use retail.

Mr. Frost graduated magna cum laude with a Bachelor’s degree in Construction and Development from Kennesaw State University

Michael Aide, President - Retail

Michael C. Aide, CCIM, serves as President - New Market Properties, LLC. As the business unit leader for New Market, Michael is responsible for developing and implementing strategic initiatives, directing the deployment of capital for new investments, overall company and portfolio performance, and providing leadership to the talented New Market team. For the past five years, Michael has served as New Markets’ Director of Investments, leading the company’s portfolio expansion from 700,000 SF and 10 grocery-anchored shopping centers to more than 6.2M SF and over 50 centers with a total value of over $1.2B.

Stephanie Hart, Executive Vice President, Chief Operating Officer - Retail

Stephanie M. Hart serves as Executive Vice President and Chief Operating Officer of New Market Properties, LLC. As Chief Operating Officer for New Market, Stephanie is responsible for partnering with Michael Aide to develop and execute strategic initiatives, maximization of asset performance and portfolio value creation, management of New Market’s company operations and distinct disciplines within the retail organization, and providing leadership to the talented New Market team. For the past five years, Stephanie has served as New Market’s Director of Operations & Asset Management and has been a leader in developing the organization to support New Market’s robust growth.

Kimberly Barkwell Hodge, Executive Vice President, Chief Property Management Officer - Multifamily

Kimberly (Barkwell) Hodge has served as Executive Vice President & Chief Property Management Officer - Multifamily since August 2015. She has over 30 years of experience in all facets of property management. Prior to her role at PAC, Ms. Hodge was a Partner and President of Ambling Management Company, where she was responsible for the oversight of all operations of the company including strategic initiatives, both corporate and property level financial performance, strategic business services, and company culture. Under her leadership, Ambling Student Housing operated over 25,000 beds of housing, while at the same time, Ambling Management Company operated 83 owned conventional, senior and affordable assets totaling nearly 13,000 units. Prior to being appointed President of Ambling, Ms. Hodge held the position of Chief Operating Officer. She also held the positions of Vice President of Business Development, Vice President of Ancillary Services, and Regional Vice President with Insignia Management Group/AIMCO, where she was responsible for the oversight of a portfolio with some 21,000 units of conventional housing located in Virginia, North Carolina, South Carolina and Georgia.

Randy Forth, Executive Vice President, Chief Asset Management Officer - Multifamily

Randy Forth has served as Executive Vice President and Chief Asset Management Officer for Preferred Apartment Communities since January 2016. He has over 30 years of commercial real estate experience, having lead asset management teams at Equitable Real Estate Investment Management, Inc. and Morgan Stanley Real Estate Advisors for more than 17 years. Most recently, Mr. Forth served as Executive Vice President at Jones Lang LaSalle (JLL) to manage a team focused exclusively on a single client, Plum Creek Timber Company (PCL), a publicly traded REIT that owns approximately 7 million acres of timberland. Mr. Forth’s team works as an extension of our client’s land asset managers, overseeing a network of 35 independent brokers in 12 states to facilitate disposition of our client’s non-strategic holdings. He earned a bachelor’s of business administration degree in real estate and urban development from the University of Georgia in Athens.