JA Investments, a New York-based private investment platform owned by Doug Jones, commenced its investment journey in 1991. In the past few years, JA Investments has evolved from a focus on primarily B-grade multifamily assets to embrace a more diversified portfolio strategy, transitioning from the single-asset approach.
 
In the fourth quarter of 2022, we concluded a decade-long investment journey with the sale of a 150-unit multifamily complex, marking an impressive 12.5% annualized gain. The momentum continued into the first quarter of 2023 with a significant sale of a 473-unit property that had delivered remarkable 17% annualized returns over the past 12 years. Further sales throughout the year resulted in a substantial return of capital to our valued partners in these endeavors.

Doug is one of three Managing Members actively overseeing a portfolio encompassing apartments and retail. Doug is intricately involved in various aspects, including refinancings, dispositions, cash allocation, annual budget reviews, risk mitigation, market analysis, and the generation of value creation ideas. This collaborative team is collectively responsible for managing all facets of company business.

The current objective of JA Investments is to strategically redeploy funds into a diverse range of investments, drawing upon the extensive market knowledge acquired over nearly four decades of investing experience.

Doug has amassed substantial financial and operational expertise over this extended period. JA Investments maintains a strong focus on risk management, cash flows, budgets, and capital expenditures for the existing portfolio, ensuring strategic oversight and continued financial prudence.

 
 
WALL STREET:
Until more recently, Doug's involvement in commercial real estate ran in parallel with his long and successful career as an institutional fixed income money manager on Wall Street. During this time, he traded many billions of dollars in bonds and structured products. Now, his exclusive focus is on building a robust and diversified portfolio within the JA Investments platform.
 
Most recently, Doug served as one of the five portfolio managers at Candlewood Investment Group, later renamed Medalist in 2018. During Doug's tenure, Candlewood experienced explosive growth, expanding from approximately $100 million to over $2 billion in assets. Doug actively managed a portfolio of around $400 million, focusing on deep credit CMBS tranches, CMBX, and loan participations. Notably, he spearheaded the acquisition of exposures to Office and Hotel properties for a side-pocket investment account, achieving exceptional performance. In 2014, the fund earned the prestigious rank of #26 in Barron's Top Hedge Funds, and the Group received numerous awards in 2012, 2013, and 2015. As an 8.75% Class A Owner, Doug departed the firm in March 2016.
 
Before his time at Candlewood, Doug served as the President and Chief Investment Officer of Maxim Capital Management in New York for five years, where he owned a 33% stake in the business. Leading a ten-member team, Doug successfully orchestrated the production of $4 billion in complex structured product vehicles.
 
Doug also held the position of Managing Director and Portfolio Manager at Bear Stearns Asset Management for a dozen years. In this role, he had comprehensive responsibilities, overseeing trading, portfolio construction, credit analysis, surveillance, and compliance across fixed and floating bonds in MBS, ABS, and CMBS. His accounts included cities, states, utilities, corporations, as well as endowments and foundations.
 
Doug has actively participated as a panelist at ABS East, ABS Monte Carlo, and IIR’s Securitization Forum. His expertise has been shared globally through a mortgage lecture in Zeist, Netherlands, and at NYU's Courant Institute.
 
Doug holds an MBA from Columbia Business School, a BA from Denison University, and has earned both the CFA (Chartered Financial Analyst) and FRM (Financial Risk Manager) designations.