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JOEL T. MURPHY

Chairman and Chief Executive Officer

Joel is the Company’s Chairman and Chief Executive Officer and has been a director of the Company since May 2019. He has served as Chief Executive Officer since January 2020. Joel’s prior roles with the Company included serving as Chair of the Investment Committee and President and Chief Executive Officer of New Market Properties, LLC, a wholly-owned subsidiary of PAC.

Mr. Murphy has over 30 years of experience as an executive officer, principal and advisor in multifamily and retail projects, portfolios, and investments. From January 2009, Mr. Murphy has served as Chief Executive Officer of Murphy Capital and Advisory Group LLC; from May 2010 as a 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. 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, owners, 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. 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).