Atlanta Business Chronicle Tells the Tale of Real Estate Mogul

If you’re an avid Atlanta Business Chronicle reader you’re probably already familiar with the weekly “People In The News” section. But, if you’ve been slacking on you’re reading material, you should pick up a copy of this week’s paper as the section tells the story of real estate authority, R.L. “Doc” Dougherty, whose experience in the industry dates back to 1964.

After 45 years in real estate, Doc is hanging up his hat to pursue the easy life, retiring at age 65.

In 1964 Doc graduated from Point Park College in Pittsburgh and began his illustrious career in real estate as an appraiser. He moved to Atlanta in 1975 at the beginning of the real estate recession to work for a large real estate investment trust (REIT) that was going through a Chapter 11 bankruptcy. In 1978 Doc and a partner started their own company. They were very successful, with real estate investments totaling over $200 million in value and managed by over 100 employees, but the business phased out after the tax reform of 1986 and the ensuing real estate recession.

Doc then launched Dougherty Capital Investments, Inc. and began working in residential development about 15 years ago when the city experienced a wave of interest in converting old warehouse buildings into loft condos. He has seen a great deal of success throughout his career with $150 million in sales since 1994 and $120 million over the last four years alone.

Doc’s experience with the real estate recessions of the 70’s and 80’s made him both practical and knowledgeable when it came to the current recession. When he saw the danger signs on the horizon in 2006, Doc decided to pull back from pursuing several potential projects, many of which are now shut down or only partially sold.

According to Doc, the pattern for each recession has been the same. He believes good markets were ruined by overzealous developers and bankers who thought the ever-increasing demand would continue. He is confident the market for townhomes and condos will turn back around, but that it will take at least five years for prices to rise to a level that will justify new construction.

Upon the completion of his final sale last month, Doc officially entered retirement and will be spending his time pursing his hobbies of skiing, scuba diving, boating, sailing and spending time with his wife, four children and his grandchildren. An avid Civil War buff, Doc also enjoys traveling the country to visit different battle fields.