Ken Outcalt started with The NRP Group in 2003 over 16 years ago as a Development Project Manager, and in 2016 was promoted to NRP Principal and President of NRP Development. He is also the co-founder and Chair of the NRP Investment Committee (IC) charged with evaluating and prioritizing deals for the NRP Executive Committee (EC). In his capacity as IC chair, Outcalt worked with NRP’s head of capital markets to build an investment due diligence and deal assessment process that yields highly profitable results: Approximately 98% of projects approved by IC are approved by EC; an equally high percentage of approved projects receive funding, and more than 95% of all funded projects achieve or exceed their pro forma financial targets.
For the past decade, Outcalt has presided over the development of affordable, workforce and market rate properties that account for nearly $5B in cost and nearly 30,000 units. Market rate dispositions during this timeframe represent nearly $1.5B. In 2020, The NRP Group was named the 7th Top Developer in the U.S. by the National Multifamily Housing Council with starts of more than 4,100 units.
Over the past five years, Outcalt has added several new markets including Atlanta, New York, D.C. and Boston, all of which have quickly become productive and demonstrate high potential for significant long-term growth. He continues to work diligently to diversify the product portfolio and build on the NRP tradition of providing a healthy balance of market rate, affordable and workforce deals. This approach enables NRP to benefit from the full spectrum of market cycles and conditions.
Outcalt’s team benefits from long-term tenure with both developers and staff who have remained loyal to NRP and share his passion for the company’s core values. Several factors come into play: Outcalt works with each developer to formulate goals that are uniquely tailored to their business and market; he has developed creative compensation programs that align developer goals with support departments and overall NRP corporate goals; and he is known for his keen ability to build internal consensus, lead the NRP project pipeline and deliver on his commitments to the many partners and stakeholders of NRP.
In his civic activities, from 2018 to 2020 Outcalt served as Chairman of the Board of Trustees for Positive Education Program, Greater Cleveland’s largest non-profit agency providing special education and mental health services to troubled children. He also currently serves as Treasurer on the Board of Directors for the Cleveland Museum of Natural History and recently joined the Cleveland Clinic VeloSano Steering Committee. Outcalt graduated with a Bachelor of Science in urban and regional studies from Cornell University in 1993 and earned an MBA from the University of Michigan in 1999. He resides with his wife and three children in Pepper Pike, Ohio.
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- Risk Profile
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- Acquisition, Development, Ground Lease, Loan Purchase, Opportunity Zone, Partner Buyout, Pre-Development, Recapitalization, Refinance, Rehabilitation
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