August 23, 2018
Doran Real Estate Partners to pursue unique development deals throughout the Midwest.
Bloomington, MN – Doran Companies today announced that three top Doran executives are launching a new, independent development venture in the Twin Cities. Doran Companies Chief Operating Officer Anne Behrendt, Doran Companies President of Development Tony Kuechle and Doran Companies Chief Financial Officer Ryan Johnson will own and lead Doran RE Partners, LLC, which will pursue development deals using new sources of capital, independent of Kelly Doran.
“I have always believed in providing increased opportunity to the talented people who help me lead Doran Companies,” said Doran Companies Founder Kelly Doran. “Whether offering profit sharing to all employees or an ownership stake in key projects, I believe hard work should be rewarded and all good organizations should evolve to create new opportunities for highly talented employees. I’m excited to give this team the freedom to pursue their own development projects and view it as one more way to evolve in this business.”
The three executives will remain full-time in their current roles at Doran Companies, continuing to lead all development deals. Separately, they will lead Doran RE Partners, LLC, which will pursue independent joint venture deals and partnerships that rely on new sources of capital.
“We are excited to pursue new development opportunities and to invest our personal capital in the projects we take on,” said Behrendt. “We believe deeply in what we do and in the possibilities of the market. While the cities and municipalities within which we do business can expect the same quality they have come to expect from Doran Companies, this new partnership enables us to engage in projects independent of Kelly’s financial commitment.”
Doran, age 60, made clear that he has no intentions of retiring or getting out of the real estate development business. “I have no intention of retiring,” said Doran. “In fact, we have more engaging projects than ever before – from The Expo in Minneapolis to Aria in Edina to The Triple Crown at Canterbury Park. However, just because I don’t plan to retire does not mean I can’t support my talented team by empowering them to pursue their own projects. I strongly support their efforts in every way.”