Washington, D.C.-based developer Don Peebles and former Carlyle Group partner Doug McNeely have started investment firm Donahue Douglas to acquire and convert office buildings to residential properties.
The two are looking to raise up to $1.5 billion and target 10 initial cities, including Boston; New York; Washington, D.C.; Atlanta; and San Francisco, according to Bloomberg.
“We are focusing on an office conversion fund right now where we’re going to raise a billion and a half dollars and we’re about two-thirds of the way there,” Peebles, who is also chairman and chief executive officer of Peebles Corp., said in an interview with Bloomberg TV.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
