Mr. Farrell is a Partner and Co-founder of City Interests Development Partners and PADC Realty Investors LLC (PADC). Both are downtown Washington, DC real estate development and investment companies. PADC, which began operations in 2004, has invested in over 5.1 million square feet of mixed-use development land sites in downtown Washington DC. Founded in 2005, City Interests Development Partners is a fully-integrated real estate development firm focused on the mixed-use urban revitalization of underserved areas in the Washington, D.C. region as well as boutique residential real estate projects in emerging markets such as Adams Morgan, Shaw, Mt. Vernon, and Petworth. The company serves as the Master Developer for Parkside, a 15.5 acre, $860 million development that is the largest privately-controlled, Transit-Oriented Development opportunity in the District of Columbia. City Interests Development Partners is also redeveloping the 4-acre South Capitol Street Shopping Center into a 325,000 square foot, $80 million dollar mixed-use development.
Prior to founding PADC, Mr. Farrell was President and Chief Operating Officer (COO) of Medical Office Properties Inc., a fully-integrated real estate investment trust (REIT) with approximately 22 Medical Office Buildings in 7 states, California, Colorado, Florida, Texas, North Carolina, Virginia and Maryland, and a small portfolio of healthcare-related assets. Mr. Farrell headed the investment team that developed, generated, and executed an investment strategy focused on the sale of existing long term assets in order to focus capital in the medical office building arena. Medical Office Properties was sold to CNL Properties and the balance of the healthcare-related assets to a private investor in May 2004.
Mr. Farrell’s career in real estate began following his graduation from Georgetown University in 1982. Mr. Farrell spent 13 years in the commercial leasing and sales real estate industry working for Cassidy and Pinkard Inc. In 1995 Mr. Farrell joined Legg Mason Wood Walker and Legg Mason Real Estate Services Inc. (LMRES). Farrell started the private equity business platform for private equity investment at both the asset and entity levels. As a Vice President at Legg Mason, Vice President at LMRES and Managing Director of Legg Mason Realty Advisors, Mr. Farrell served in the role of investment banker, overseeing both private and public real estate companies’ efforts to raise private equity in foreign and domestic markets and debt placement for clientele.
Mr. Farrell serves on boards of various corporate, educational and philanthropic institutions:
- W.P. Carey Company (NYSE: WPC); Member Board of Directors; Chair of the Compensation Committee, Member of the Investment, Audit and Executive Committees
- Educare of Washington DC, Member Board of Directors
- Legatus of Washington DC, President
- Georgetown University Alumni Association, Board of Governors, Senator
- Shepherd Foundation, Board of Directors, Executive Committee Member
- Tewaaraton Trophy Foundation, Former Chairman of the Board
- The University Club of Washington DC; Former President, Member Foundation Board of Directors