Mill Creek Residential has announced that executive chairman Charles Brindell will retire at the end of the first quarter. President and CEO Bill MacDonald will assume additional responsibilities as chairman as well as maintain his current role.

Charles Brindell
Charles Brindell

Since the company’s launch in 2011, Brindell has helped spearhead Mill Creek’s emergence into the rental housing space as a leading developer, owner-operator, and investment manager. In 2021, Mill Creek ranked third on the National Multifamily Housing Council’s (NMHC’s) Top Developers list and fifth on its Top Builders list.

“The opportunity to launch Mill Creek, as one of the founding partners, and to help it grow into the enduring enterprise it is today has been the honor of my long career,” Brindell said. “Nothing spurred the decision to retire other than the inherent feeling that it is the right time. Bill and his team have been laying the foundation for a new generation of exciting growth, expansion, and profitability for Mill Creek, and I am looking forward to watching it all unfold, albeit from a different vantage point. There is no more able, competent, and focused leader across the real estate universe than Bill, in my opinion.”

Under Brindell’s leadership over the past 11 years, Mill Creek has grown from a startup of 70 founding partners and associates to more than 1,000. It has developed or acquired more than 43,000 apartments in more than 160 communities and has deployed more than $12.7 billion in new investment. The firm currently has more than $9 billion in assets under management.

Brindell, a native of Wilmington, North Carolina, graduated from The University of North Carolina (UNC) in 1971. He was associated with the Trammell Crow family and its affiliates for 28 years. Prior to founding Mill Creek, he served as president and CEO of Trammell Crow Residential. His career also included three years in commercial mortgage banking at Cameron Brown Co. and more than seven years at Memphis, Tennessee-based Southwide Development Co.

He has been active with The Real Estate Roundtable, Urban Land Institute, and the NMHC. In addition, he served two terms as chairman of the National Association of Home Builders’ Multifamily Leadership Board. Outside of the industry, he serves on the boards of Independent Bank and Independent Holdings and is a member of the advisory board and executive committee of the Wood Center for Real Estate Studies at UNC’s Kenan Flagler Business School and the advisory board of the Baylor Scott & White Health Foundation in Dallas. He also is a board member of Phoenix House Texas and an advisory director of Rentable Technologies.

“Charlie had the vision to launch Mill Creek when most people in the industry were hunkering down,” said MacDonald. “Charlie’s positive attitude and leadership helped drive Mill Creek into one of the most respected and prolific rental housing companies in the country. He will certainly be missed.”