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, Doran Properties Group, with more than 160 employees and its entire real estate portfolio under its direct management.
“I’m excited to announce the launch of Doran Properties 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.”
In addition to managing its extensive retail and multi-family portfolio, Doran Properties Group is actively engaged in new development deals throughout the Twin Cities. Their latest projects include a 500-unit, two phase luxury apartment community under construction in Saint Anthony Village named The Ruby, and two projects that will start this summer including the 305-unit second phase of the Triple Crown Residences at Canterbury in Shakopee and a fourth 164-unit phase of the Reserve at Arbor Lakes in Maple Grove. In addition, Doran Properties Group is planning on starting the construction of two additional projects next year which will include a 200-unit senior project in Maple Grove and a 200-unit apartment building located in Lakewood, Colorado.
Doran Properties Group currently intends to continue to hire Doran Companies’ Architecture team to design many of its projects, even as Doran Properties Group will perform its own construction. Of note, Doran Properties Group will not be providing construction services beyond its own developments.
“I quite honestly never really liked doing third party design and build work and I am happy that type of work can continue under the capable hands of Anne Behrendt and Ryan Johnson at Doran Companies,” said Doran. “But I am excited to get back to what I love with Doran Properties Group, staying focused on developing, designing, building, managing and owning some of the highest-quality developments in the marketplace.”
Doran Properties Group will maintain corporate offices in Bloomington, Minnesota. The company’s current portfolio includes retail centers Greenway Lakes Commons in Minneapolis (formerly Calhoun Village), The Village at Arbor Lakes in Maple Grove, part ownership in Tamarack Village in Woodbury as well as over 3,000 luxury apartment units, including: Expo and Mill & Main in Minneapolis; The Moline and Marketplace & Main in Hopkins; 610 West in Brooklyn Park; The Reserve at Arbor Lakes in Maple Grove; Aria in Edina
; The Triple Crown Residences at Canterbury in Shakopee; and The Lyra in Centennial, Colorado with a combined value in excess of a billion dollars.
About Doran Properties Group:
Kelly Doran founded Doran Properties Group in 2021, a fully integrated development company with more than 160 development, construction and management employees, in addition to a full team of in-house support services from legal, to finance, to marketing and IT professionals. With more than 30 years of experience in commercial real estate, Kelly Doran is widely recognized as one of the leading developers in Minnesota and the Upper Midwest and has received numerous accolades from industry peers including “Most Admired CEO” by Twin Cities Business. Known for developing some of the most exclusive, high-end luxury apartment and townhome communities across the Twin Cities, the Doran family – including Kelly and his eldest son, Evan – have developed everything from residential multi-family and student housing to retail shopping centers.