Real Estate Veteran and MBK Executive Ken McCarren Promoted to President Effective April 1, 2022
IRVINE, Calif. — (March 28, 2022) – MBK Rental Living, one of California’s most successful and innovative private developers, announced that President Craig Jones will retire from the company at the end of March 2022. During his time at the helm, Jones used his more than 20 years of real estate experience in acquisitions, asset management, strategic planning, and market research to take the company to new heights. MBK Rental Living has steadily grown with consistent success since its inception in 2012 and is well positioned for the future and additional growth ahead through a secured pipeline of projects. Ken McCarren, Vice President of Asset Management, will succeed Jones as President.
Jones joined MBK in 2012 with MBK Homes and then was instrumental in helping establish MBK Rental Living, a division of MBK Real Estate LLC. Before becoming President in 2017, he served as Vice President of Acquisitions and Asset Management. During that time, Jones developed MBK’s apartment investment strategy, sourcing and acquiring land for the company and coordinating the design of upcoming communities. He also oversaw operations and asset management of MBK’s apartment portfolio.
“MBK Rental Living’s focus is on creating communities that enrich the lives of our residents and exceed the financial expectations of our investors. It takes an integrated team of real estate professionals to implement sustainable design and quality construction to meet the needs and lifestyles of today’s residents, which is why I’m excited about the company’s next stage with Ken McCarren. He is a talented and quality leader, and above all, a highly experienced professional who will take MBK Rental Living to the next level,” said Jones. “Ken and I worked closely together for 11 years at the Irvine Company and when the opportunity became available, he seamlessly joined our team at MBK. 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. Ltd. 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.”
“We wish Mr. Jones all the best in his journey ahead together with his family,” Katsuo Yamanaka, Chairman and President of MBK Real Estate LLC. “From his role in helping form MBK Rental Living to his investment strategy and so much more, he has had a tremendous impact on the success of the company and paving the way toward a very bright future.”
As President, McCarren will be responsible for leading MBK Rental Living’s acquisition, disposition, construction, asset management, strategic planning, and market research. He joined the company in 2020 with over 30 years of experience in the multifamily business. Under McCarren’s leadership, MBK Rental Living has made significant enhancements to the quality of its market-related due diligence and property management oversight. Leveraging his extensive industry experience, he will continue to steward the company’s relationships with Mitsui and its partners throughout the industry.
“I am honored to serve as the new President of MBK Rental Living. Having worked under the leadership of Craig Jones, I know he has set the groundwork for the future and left us well-prepared to take the company to the next level. The opportunity is truly special and humbling,” said incoming President Ken McCarren.
McCarren holds a degree in business from California State University at Long Beach as well as the designation of Certified Property Manager from the Institute of Real Estate Management. “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,” continued McCarren. “I respectfully and wholeheartedly salute Craig and what he has done as MBK’s chief, knowing that because of his vision and leadership we have an even greater opportunity to create places of tremendous value for residents as well as for our partners and investors. Together with our team, I look forward to leading MBK Rental Living to continued success.”
For more information, please visit www.MBKRentalLiving.com.
About MBK Rental Living
MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focusing on creating communities that deliver value for their residents, partners, and investors. Throughout its 30-year history, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest conglomerates. MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.
About Mitsui & Co., Ltd.
Mitsui & Co., Ltd. (8031: JP) is a global trading and investment company covering more than 60 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Mitsui develops businesses in collaboration with a global network of trusted partners, having built a strong and diverse business portfolio such as mineral and metal resources, energy, machinery, infrastructure and chemicals industries, and real estate. For more information on Mitsui & Co’s businesses visit, www.mitsui.com.
# # #
