BULLISH ON MAPLE GROVE: Kelly Doran opens third of four luxury apartment buildings at his Reserve at Arbor Lakes gated community, with plans for senior housing and 5,200 square feet of additional retail at adjacent sites already underway

Significant demand sees 70 percent of the 151 newly available apartments leased just two months after opening, 100 percent of the existing 30,000 square feet of retail fully leased


Bloomington, MN – Just three years after Kelly Doran first welcomed residents to the Reserve at Arbor Lakes luxury gated apartment community in Maple Grove and some of his adjacent retail spaces at the Village at Arbor Lakes opened their doors, Doran Properties Group announced today it successfully opened the community’s third residential building, with nearly 70 percent of the new 151 apartments leased just two months after opening. Additionally, the company is nearly finished constructing 5,200 square feet of additional retail space on an adjacent site as the original 30,000 square feet it built and manages as part of the “Village at Arbor Lakes” is fully leased.

 

“We remain bullish on Maple Grove and this 40-acre development we broke ground on just four years ago,” said Kelly Doran, founder of Doran Properties Group. “I’m excited that after hundreds of millions of dollars in investment here, we are already breaking ground on our fourth residential building for the Reserve at Arbor Lakes, we are building out an additional retail building as the 30,000 square feet we developed, own and manage is at capacity – not to mention the more than 135,000 square feet of new developments on the site that include a Wahlburgers, Wings Financial Credit Union, Sleep Number and a Resident Inn/Spring Hill Suites hotel.”

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Doran Properties Group Names New Chief Financial Officer

Jonathan Bishop brings with him extensive capital markets and multifamily experience.

Bloomington, MN – Prolific Twin Cities multifamily and commercial real estate developer Kelly Doran today announced Jonathan Bishop will serve as Chief Financial Officer for Doran Properties Group, a multigenerational development company Doran launched with his son, Evan Doran, earlier this month. Bishop has extensive capital markets and multifamily experience, having worked in the commercial real estate and banking industry for nearly two decades including most recently at Wells Fargo Bank and IRET (now CenterSpace).

“With more than 160 employees responsible for developing, leasing, building and managing Doran Properties Group’s extensive multifamily and commercial developments in the Twin Cities and Colorado, we will benefit tremendously from Jonathan’s expertise and his relationships in the industry,” said Doran. “We are fortunate as an organization to have maintained a strong financial position despite the pandemic and other challenges over the past year. Jonathan will play a key role in helping to preserve the underlying strength of our business and ensuring our continued growth.”

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Kelly Doran Launches The Doran Group, a Development Company with more than 160 employees

The move coincides with Doran’s final sale of all remaining ownership interest in Doran Companies, the company he founded nearly 15 years ago.

Bloomington, MN – Kelly Doran, longtime developer of commercial real estate in the Twin Cities, announced today he has sold all remaining ownership interest in Doran Companies and is launching his new venture, The Doran Group, with more than 160 employees and its entire real estate portfolio under its direct management.

“I’m excited to announce the launch of The Doran Group, a multi-generational development company I am starting with my son Evan Doran and a talented team of high-caliber leaders, many of whom I have worked with for years,” said Doran. “When I first sold majority-interest in Doran Companies two years ago, it was to get back to what I love most – which is developing, designing, building and managing a real estate portfolio under the exclusive control of our new company.”

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