DALLAS--Mill Creek Residential has named William C. MacDonald as its first president.
MacDonald, who will maintain his role as chief investment officer, is a founding shareholder of the company and has a prominent track record of business accomplishments, leadership and team building with Mill Creek. The move was effective Dec. 1.
"Mill Creek is a rapidly growing enterprise, and Bill McDonald has been a big factor in that growth," says Charles R. Brindell Jr., chairman and chief executive officer of Mill Creek Residential. "We've added this title for Bill to better recognize his role within our organization. His leadership is important to Mill Creek's ability to maintain its position as a premier investor in great communities in some of the best markets in the country."
As chief investment officer and president, MacDonald will continue to have responsibility for all development, construction, acquisition and market research activity for a Mill Creek pipeline that has a total capitalization of more than $8 billion. He will also continue to administer the company's capital allocation across its development and acquisitions portfolio.
"This is well-deserved recognition of Bill's accomplishments," says Michael Hefley, chief operations officer for Mill Creek Residential. "I've known Bill for a long time both personally and professionally. One of the most valuable elements of his extensive and long record of success that can be overlooked at times is his focus on quality. Bill has led the development and acquisition of the highest quality portfolio of apartment communities that I have ever been associated with."
Prior to becoming chief investment officer in 2013, MacDonald served as Mill Creek's executive managing director for the East region, where he was responsible for development, construction, finance and acquisition activities in the eastern portion of the country. He held the same post at Trammell Crow Residential prior to participating in the founding of Mill Creek, where his divisions were responsible for the development of more than 40,000 residential homes and capitalization exceeding $5 billion.
MacDonald initially joined Trammell Crow Residential as the chief financial officer for the South Florida division. Previously, he was the senior vice president for a private Connecticut-based real estate company. He began his real estate career as a senior loan officer for Citicorp Real Estate Inc.
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