Don Peebles and former Carlyle Group partner Doug McNeely are launching Donahue Douglas, an investment firm aiming to raise up to $1.5 billion for office-to-residential conversions. The firm will target distressed buildings in cities like New York, Boston, Washington, and San Francisco. Peebles highlighted strong returns and the chance to address the housing shortage as driving factors. While tax incentives make conversions attractive, developers face challenges including tenant relocations, construction costs, and design limitations. Peebles’ past projects include converting Tribeca’s Clock Tower Building into condos alongside El Ad Group.
Don Peebles
