by Stephen Ursery
Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing communities across the U.S., today announced the retirement of Charles Brindell, the company’s executive chairman. Brindell has helped spearhead Mill Creek’s emergence as a leading player in the rental-housing sector since the company’s inception in 2011. His retirement will take effect at the end of the quarter.
Bill MacDonald, president and chief executive officer of Mill Creek Residential, will maintain his current role and assume additional responsibilities as chairman upon Brindell’s retirement.
“The opportunity to launch Mill Creek, as one of the founding partners, and to help it grow into the enduring enterprise it is today has been the honor of my long career,” Brindell said. “Nothing spurred the decision to retire other than the inherent feeling that it is the right time. Bill and his team have been laying the foundation for a new generation of exciting growth, expansion and profitability for Mill Creek, and I am looking forward to watching it all unfold, albeit from a different vantage point. There is no more able, competent and focused leader across the real estate universe than Bill, in my opinion.”
Brindell is quick to remind anyone that Mill Creek’s success and industry leadership is the result of a team effort. In Mill Creek’s 11 years under Brindell’s leadership, the company has grown from a de novo start-up of 70 founding partners and associates to more than 1,000 today. Additionally, the company has developed or acquired more than 43,000 apartment homes across more than 160 communities and deployed in excess of $12.7 billion in new investment. Today, the company has more than $9 billion in assets under management. Mill Creek regularly receives accolades as a top developer, builder and manager by various industry groups.
“I often pinch myself when reflecting on all that our team has accomplished over such a relatively short period of time,” Brindell said.
A Wilmington, N.C., native who graduated from the University of North Carolina in 1971, Brindell was associated with the Trammell Crow family and its affiliates for 28 years prior to the founding of Mill Creek. He served as president and CEO at Trammell Crow Residential prior to the formation of Mill Creek, which he and a group of TCR senior partners initiated with a founding investment from the Trammell Crow family and a large state public pension.
“Charlie had the vision to launch Mill Creek when most people in the industry were hunkering down,” MacDonald said. “Charlie’s positive attitude and leadership helped drive Mill Creek into one of the most respected and prolific rental housing companies in the country. He will certainly be missed.”
Brindell’s long real estate career also included three years in commercial mortgage banking at Cameron Brown Company (Raleigh, N.C.) and more than seven years at Southwide Development Company, a Memphis-based industrial real estate management and development firm where he served as vice president of finance and president and chief operating officer.
Brindell has long been active in many professional industry associations. Most recently, he has been active with The Real Estate Roundtable, The Urban Land Institute and the National Multifamily Housing Council (Executive Committee). He also served two terms as chairman of the Multifamily Leadership Board of the National Association of Home Builders. He served on several additional boards and advisory committees, as well.
Outside of real estate, Brindell serves on the boards of Independent Bank and Independent Holdings. He is a member of the advisory board and executive committee of the Wood Center for Real Estate Studies at the Kenan Flagler Business School at UNC and the advisory board of the Baylor, Scott and White Healthcare Foundation in Dallas. He is also a board member of Phoenix House Texas and an advisory director of Rentable Technologies.