Principals and Staff

The principals of Park Real Estate, Inc. have a deep background in real estate investment, business management, finance, construction and real estate development. Typical of a family-owned business, each member of the management team has come through the ranks of the company's operations. Over the years brothers Ray, Randy and Rick Alcorn gravitated to the functions of the business that captured personal interest, and their combined expertise covers every facet of the organization. They work with key non-family members to create and maintain an organization committed to operational stability and strategic growth.

H. Ray Alcorn, Jr.—President and Chief Executive Officer

Ray is the oldest of the Alcorn brothers, and joined the Company in 1988. He attended Northwood University in Dallas, Texas and Midland, Michigan. He has extensive experience in business and real estate development, including hotels, restaurants, single- and multi-family housing, shopping centers and office buildings. He is responsible for the overall direction of the Company, and the development and implementation of the Company’s strategic plan.

Ray is active in numerous industry trade organizations and local government. He is a current member and a past chairman of the Audit committee for the Choice Hotels Owners Council, the franchisee association of Choice Hotels International.

He is also a member of the International Council of Shopping Centers, the Montgomery Regional Chamber of Commerce and the New River Valley Realtors Association. He served on the Montgomery County Planning Commission for twelve years, and for two terms on the board of directors of the Virginia Citizens Planning Association, a statewide community planning agency. He has completed state certification courses for planning commissioners and economic developers, and continually attends trade association and professional development seminars.

Ray is also the author of two books on commercial real estate investing, DealMakers Guide to Commercial Real Estate and DealMakers Guide to Mobile Home Parks. He hosts four to five seminars each year, along with an online discussion forum, for commercial real estate investors.

Randy L. Alcorn—Executive Vice President: Income Property Operations

Randy is a graduate of Radford University in Radford, Virginia. After college he joined First National Exchange Bank (now part of Wells Fargo) as a branch assistant and loan officer in Christiansburg VA, with duties in business account development and relations. He returned to the family company in 1983 as the Vice President of Retail Finance for Omega Homes, Inc., a multi-state manufactured housing operation owned by Mr. Alcorn, Sr. His duties there included oversight of the in-house credit and contract processing, and insurance servicing operations.

He joined the real estate division of Mr. Alcorn Sr.’s operations in 1989, and has responsibility for marketing and lease administration for the company’s investment properties. His many years of experience in finance, credit qualification, and collection practices are evident in the high level of performance of the company’s assets across a variety of property types.

Randy is a member of the New River Valley Apartment Council and the International Council of Shopping Centers. He is also active in a number of initiatives regarding federal and local laws and regulations pertaining to landlord/tenant issues.

Rick L. Alcorn—Executive Vice President: Construction and Facilities Management

Rick has been with the property division of Mr. Alcorn Sr.'s businesses since 1981, the longest tenure of the brothers. A graduate of Radford University in Radford, Virginia, his duties have included literally every facet of the Company’s operations. He has long experience in the development, construction, and maintenance of a wide array of projects, ranging from single-family houses to retail, multi-family, and office properties, and an equally long record of bringing projects in on time and on budget.

Rick oversees the development and administration of the capital improvement program, including prioritizing, costing and scheduling improvements and the procurement and installation of new equipment. He is also responsible for the construction and maintenance functions necessary for the long-term health of the investment property portfolio.

Rick is a member of the New River Valley Homebuilders Association, and holds numerous certifications in the construction field.

Amy Howell—Office Administrator

Amy is the go-to person for almost everything in the corporate office. As her title suggests, she is the company’s primary liaison for suppliers, vendors and employees. Since joining the company in 2005, her duties have grown to include the preparation of all internal management reports, including accounting statements; daily, weekly and monthly status reports; and annual budget forecasts. These reports are critical to monitor operations and plan for the future.

All bookkeeping, payroll, payables and receivables are processed through her office. She also administers the company’s personnel policies and employee benefits program, including an annual review of the employee policy handbook for compliance with state and federal requirements.

Amy's was a licensed Realtor from 1986-1989, and she was the bookkeeper for a single family home builder. She is a member of AIPB, working toward certification.

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