Irving-based JPI has promoted Payton Mayes to divisional president and managing partner after successes in 2020, including portfolio transactions, pre-construction project sales and continued growth for the most active multifamily developer in Dallas-Fort Worth.
Mayes will oversee and lead all components of JPI’s multifamily regional operations, including site acquisition, development, design management, construction, capital markets, portfolio management and disposition, the company said in the announcement.
Mayes will also lead JPI’s new presence in the affordable housing market to help meet Dallas/Fort-Worth’s growing and diverse housing needs. Mayes will continue his involvement as a member of the JPI Investment Committee and Executive Leadership Team, in which he plays a key role in spearheading JPI’s strategic direction and initiatives, as well as company culture.
“Payton is one of JPI’s finest leaders, and this well-deserved promotion speaks to his leadership skills and his commitment to excellence,” said JPI Chief Executive Officer Brad Taylor. “Payton truly embodies JPI’s core values and principles by demonstrating servant leadership, team loyalty and a commitment to our culture. We could not be more confident in his abilities to lead JPI to even more success in this new role.”
Mayes joined JPI in 2019 as an executive vice president and central region managing partner. Prior to JPI, Mayes served as the chief investment officer at DHIC Communities, a D.R. Horton company,.
He also founded Cephas Partners, where he co-invested with Blackstone to acquire a portfolio from Bank of America Merrill Lynch with a total enterprise value of underlying assets of $4 billion. His experience also includes managing real estate private equity investments at Merrill Lynch, where he led a $600 million South American entrance, as well as serving on the boards of three different development companies.
Mayes is a graduate of Texas A&M University.
“I am blessed to be a part of the JPI family and to help steward our amazing team,” said Mayes. “All of our success is directly attributed to their hard work and dedication to our goal of being recognized as the number one residential company in the markets we serve.”
JPI is a national developer, builder and investment manager of Class A multifamily assets across the U.S. and is the most active multifamily developer in Dallas-Fort Worth, with more than 5,000 apartment homes under construction, the company said. It also has a California office.