Madison Communities, a multifamily development and management company, has named an industry veteran as its president.
In the newly created role, McCarley Davis will be responsible for developing new institutional relationships and improving internal communication and collaboration, according to the Charlotte, North Carolina-based company.
Davis previously served as a division president in Florida at Quarterra, where he oversaw the company's 2,000 units under construction or in development across the state. In June, Quarterra, the multifamily arm of homebuilder Lennar, sold about 5,200 apartment units to global alternative investment firm KKR for $2.1 billion.
Davis proved to be an attractive candidate because of his leadership experience in the multifamily sector, according to Ryan Hanks, CEO of Madison Communities' parent, Madison Capital Group, of Charlotte.
Madison Communities' employees who now work under Davis previously reported directly to Hanks, the company said.
Before Quarterra, Davis was chief investment officer for Epoch Residential, a multifamily development, construction and management company.
"Madison Communities stands out in the multifamily market due to its agile decision-making process and unique product offerings, including our prototype garden and built-for-rent communities," Davis said in the statement.
Madison said it has completed more than 3,200 units across six states and has more than 3,400 units under construction.