November 28, 2018 | Pepperdine Law alumnus Rick Caruso (JD ’83) was named as one of the 25 “most powerful real estate figures in Los Angeles” by the Commercial Observer. Caruso is the founder and Chief Executive Officer of Caruso Affiliated, one of the largest privately held real estate companies in the United States.
From Commercial Observer:
Rick Caruso, the driving force behind Los Angeles landmark The Grove, the 575,000-square-foot shopping center adjacent to the historic Farmers Market established in the Fairfax District in 2002, has helped redefine the American mall. With its Neo-Deco facades, chiming trolley and dancing fountains, the shopping center often has been likened to the Disneyland of retail. Caruso’s town-square-style retail emporiums with central manicured green space are outdoor lifestyle centers in homage to a golden age—which may or may not have ever existed.
As the head of Caruso Affiliated, one of the nation’s largest privately held real estate companies, founded in 1987, his vision has paid off handsomely.
The Grove and his nine other shopping centers in the area, including Palisades Village in Pacific Palisades, which opened last month, have made the 59-year-old real estate developer rich. According to a recent profile on him in Forbes, Caruso is worth an estimated $4 billion.
The full feature may be read here.