The Bainbridge Cos. has promoted Brian Doppelt to president, according to a press release the Wellington, Florida-based multifamily real estate firm shared with Multifamily Dive on Monday. During his decade-plus at the company, Doppelt has shaped Bainbridge’s corporate strategy and steadily grown into one of its key leaders.
Doppelt joined Bainbridge in 2016 and most recently served as executive vice president and chief legal officer, leading management and capital-raising activities for the fund management business while also heading the legal department, per the release. He expanded Bainbridge’s investment management platform, supported capital formation efforts, structured and executed complex transactions and contributed to the firm’s investment committees.
Doppelt told Multifamily Dive he’s most excited about the opportunity to help shape Bainbridge's next phase of growth across its operating and investment platforms, including the ground-up development and acquisitions businesses.
“Over the last decade, I've had the privilege of contributing to the firm in a meaningful way but this role allows me to take a broader view of how the pieces come together to create value for our residents, investors, and team members,” Doppelt said in emailed comments.. “I'm also excited about the opportunity to help develop the next generation of leaders within our organization.”
Going forward, Doppelt will assume broader responsibilities across the company and will work closely with Chairman and CEO Richard Schechter, Executive Vice President and CFO Chris Phillips and other executive leaders. Schechter called Doppelt an instrumental member of the leadership team.
“This promotion reflects the depth of his contributions and our confidence in him,” Schechter said in the release. “He understands that Bainbridge’s success derives from its deep commitment to integrity and to delivering exceptional experiences for our residents.”
Doppelt has been involved in many of the most significant initiatives across the company’s development, acquisitions, investment management and operating businesses, according to the release. Over the years, he has contributed to more than $2 billion in transaction activity, including joint ventures, acquisitions, sales and other capital raises.
Bainbridge is broadly optimistic about the multifamily sector since many markets still lack sufficient housing supply and demographic trends support long-term rental demand, according to Doppelt.
“While capital markets and operating conditions will continue to fluctuate, we believe firms with strong local market expertise, operational capabilities, and disciplined investment processes will continue to find compelling opportunities,” Doppelt said.
AI, other multifamily growth strategies
One of the areas Doppelt is most focused on right now is the practical application of artificial intelligence across the multifamily industry.
“While AI is generating a lot of discussion, I believe we're still in the early stages of understanding how transformative it can be for owners and operators,” Doppelt said. “AI and automation can help streamline administrative and repetitive tasks, allowing onsite teams to focus on leasing apartments, building relationships with residents, delivering a better resident experience, and responding more quickly to resident needs.”
His appointment comes at a pivotal moment for Bainbridge, which is entering a period of significant growth, per the release. Recently, the firm expanded its ground-up development and third-party property management businesses and launched and closed its first multifamily acquisition fund.
“When you are a vertically integrated operator like we are, a fund gives you the ability to move very quickly to find opportunities,” Doppelt told Multifamily Dive at the time. “We want to be well-positioned to pounce.”
Since Fund I is still actively deploying capital, it's early to draw definitive lessons, Doppelt said. However, the transactions executed to date “appear to validate the application of Bainbridge's vertically integrated model to a discretionary fund business.”
“Our ability to source opportunities, evaluate them efficiently across our verticals, and move quickly through execution has been a meaningful advantage in a competitive and often rapidly changing market environment,” Doppelt said. “The fund has also reinforced the value of having multiple avenues for pursuing opportunities.”
Doppelt is a member of the National Multifamily Housing Council and serves in a variety of charitable and community leadership roles, per the release. Prior to Bainbridge, Doppelt worked as an attorney with Hafetz & Necheles, a prosecutor with the New York State Attorney General’s Office and a law clerk in the U.S. District Court for the Southern District of New York.
Bainbridge also named Catherine Neal as vice president of client services in April and hired Jennifer Ipock as its vice president of operations in January.
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