California developer MBK Rental Living has announced the retirement of president Craig Jones after more than 10 years with the company. Effective April 1, Ken McCarren, who had been vice president of asset management, will assume the role.
Bringing more than 20 years of experience in acquisitions, asset management, strategic planning, and market research, Jones joined MBK Homes in 2012 and was instrumental in helping establish MBK Rental Living, a division of MBK Real Estate. Before becoming president in 2017, he served as vice president of acquisitions and asset management. During that time, he developed the company’s investment strategy, sourcing and acquiring land and coordinating the design of upcoming communities, as well as oversaw operations and asset management of its apartment portfolio.
“I’m especially thankful and appreciative for the very talented and hardworking team that I’ve had the privilege to work alongside at MBK Rental Living and our parent company, Mitsui & Co.,” said Jones. “As a team, we have been able to uphold our vision and values and stand by our mission to be the preeminent lifestyle developer focused on creating communities that deliver value for our residents, partners, and investors.”
Jones said he is excited about the company’s next stage with McCarren at the helm, adding that “he is a talented and quality leader and, above all, a highly experienced professional who will take MBK Rental Living to the next level.”
McCarren, who joined the company in 2020 with over 30 years of experience in the multifamily business, will be responsible for leading MBK Rental Living’s acquisitions, dispositions, construction, asset management, strategic planning, and market research. Under his leadership, the company has made significant enhancements to the quality of its due diligence and property management oversight. He will continue to steward the company’s relationships with Mitsui and other industry partners.
“Having worked under the leadership of Craig Jones, I know he has set the ground work for the future and left us well-prepared to take the company to the next level,” McCarren said. “My multifamily experience spans more than 75,000 units and six states over the last 30 years in asset management, and I’ve never been more excited about a company’s promise and mission. … Together with our team, I look forward to leading MBK Rental Living to continued success.”