Payton Mayes

Payton joined JPI in 2019 and became CEO in 2021. In 2023, he partnered with Sumitomo Forestry to recapitalize the company and position it for its next phase of growth. JPI is one of the most active multifamily developers and builders in the U.S. Payton focuses on leading the company’s strategy, leadership, and culture. He is grateful to work alongside an exceptional team that shares a passion to transform building, ehance communities and improve lives. Together, the team’s goal is simple, to become the number one multifamily developer and builder in the U.S.

Cephas Partners is a private equity firm focused on alternative investments. The firm was formed in 2012 to assist affiliates of Blackstone in managing complex real estate transactions across the United States, South America, and Europe. Cephas co-invested alongside Blackstone in the acquisition of a large portfolio from Bank of America Merrill Lynch, funded with more than $500 million of equity and representing approximately $4 billion of underlying enterprise value. The investments included both property-level assets and operating companies across multiple sectors and geographies, including market-rate and affordable housing in New York City, residential and office assets in Brazil, retail and office properties in Argentina, hotels in the Pacific Northwest, Florida, and Prague, retail assets in Germany, and an Italian non-performing loan portfolio. Payton served as a key representative of Blackstone’s interests in several joint ventures across Latin America and the United States. His responsibilities focused on maximizing value and participating in or approving major operating decisions across the portfolio. He was involved in all aspects of the business, including strategy, business planning, budgeting, acquisitions and dispositions, capital investments, operational improvements, staffing, marketing initiatives, and the development of analytical tools and reporting metrics. Separate from the Bank of America Merrill Lynch portfolio, he also partnered with Blackstone in the acquisition of a $260 million mixed-use property consisting of office, hotel, and development land, including capital for repositioning the asset.

Echo Valley is located about 10 miles northeast of Coleman, Texas on Highway 206 near the site where the small town of Echo once stood. The property sits along Jim Ned Creek and Indian Creek in an area historically known for strong grass, water, and productive ranch land. I grew up about 14 miles southwest of Coleman. When Andrea and I lived in New York, traveling back to Texas to visit family often meant landing in Dallas, renting a car, installing the car seats, and then driving nearly 1,000 miles to visit multiple families since both of our parents were divorced. Andrea had a desire for us to have a place where family and friends could come visit us instead. In December 2010 we purchased our first 381 acres. Through several additional transactions we eventually expanded the property to approximately 2,887 acres. As we acquired land that included the location of the former town of Echo, we decided to rename the ranch Echo Valley. Since acquiring the property we have made significant improvements. The ranch now includes hunting areas, shooting stations, wildlife management improvements, and gathering spaces that allow us to host family, friends, and guests. Over the years we have enjoyed sharing the ranch with others and providing opportunities for young people to work and develop a strong work ethic. Looking ahead, we hope to build a chapel, additional housing, and facilities that could host meetings, retreats, and other gatherings, all in God's timing. Our ultimate goal is to use Echo Valley in ways that advance God’s Kingdom.

Payton was recruited to D.R. Horton to help lead strategic initiatives beyond the company’s core homebuilding business, including off-balance-sheet land strategies and the creation of a multifamily development platform.

Global Real Estate Principal Investments (GREPI) invested proprietary capital in real estate and related opportunities across the Americas, Asia, and Europe. The platform originated and managed investments across the capital structure, including common and preferred equity, mezzanine and senior debt, distressed debt acquisitions, secondary limited partnership interests, international non-performing loan portfolios, and operating company investments. Co-Head, GREPI Americas and Europe (2009–2012) Following Bank of America’s acquisition of Merrill Lynch, Payton was selected as a key leader responsible for the wind-down of GREPI’s global investment platform. At the time, GREPI managed approximately $8 billion of largely illiquid equity investments and employed about 150 people globally. He led the monetization of investments across North America, South America, and Europe. Payton managed a team of 20 professionals and retained key members during significant market turmoil and internal restructuring following the financial crisis. He worked closely with Corporate Credit, Risk Management, Accounting Policy, and Finance. His leadership was consistently recognized, with 360 reviews ranking him in the top 10% of managers. Head of GREPI Latin America (2006–2008) Payton led GREPI’s expansion into South America, deploying more than $600 million of equity investments in Brazil and Argentina. He served as Co-General Partner of a $261 million real estate fund in Argentina and helped present the strategy to more than 80 institutional investors across the Americas, Europe, and the Middle East. In Brazil, he was the controlling partner in two joint ventures that developed more than 4,000 apartments across 25+ residential projects and over 1 million sf of office space. GREPI also owned a 50% interest and served on the boards of three development companies with more than 100 employees, two of which were startup ventures formed with local partner families.

Developed and maintained financial models to monitor the portfolio, outstanding bids, and potential transactions, evaluating profitability, relative risk and reward, and pricing. Assisted in structuring senior and mezzanine loans, including drafting term sheets for financing opportunities. Prepared detailed internal memoranda presenting investment opportunities to senior management. Also marketed positions for sale to clients through direct outreach and the preparation of marketing materials and offering memoranda.