Caruso

About Caruso

Caruso is a real estate operator headquartered in Los Angeles, CA. Caruso operates in Los Angeles, California (LA) and Oxnard-Thousand Oaks-Ventura, California. Its investment focus is on Affordable Housing, Condominiums and Hospitality.

Caruso is a privately held real estate investment, development, and management company based in Los Angeles, California. Founded in 1987 by businessman and civic leader Rick Caruso, the enterprise has completed 39 years of continuous operation. The firm is widely recognized for pioneering the open-air lifestyle center concept, shifting away from traditional enclosed malls to create highly curated, pedestrian-friendly main streets that blend civic spaces, entertainment, and luxury retail. The enterprise focuses its investment platform exclusively on premier, high-barrier coastal and urban submarkets within Southern California. Its geographic concentration spans affluent enclaves including Los Angeles, Glendale, Calabasas, Pacific Palisades, Marina del Rey, Encino, Thousand Oaks, and Montecito. Caruso manages its institutional-grade assets directly through an integrated hospitality-driven operating model, infusing five-star resort-style concierge services, pristine landscaping, and synchronized fountains into its daily property operations. This strategy has allowed the firm to achieve some of the highest sales-per-square-foot metrics in the international retail industry. The company's historical development track record encompasses a physical footprint of more than 2.5 million square feet of high-performance properties across the retail, mixed-use, luxury residential, corporate office, and hospitality sectors. Its flagship asset is The Grove in Los Angeles, a world-renowned, open-air retail destination that attracts millions of visitors annually and seamlessly blends regional culture with upscale shopping. The firm expanded this mega-mixed-use blueprint with The Americana at Brand in Glendale, a massive master-planned community featuring a 570,000-square-foot retail and dining center anchored beneath a residential component comprising 242 luxury apartments and 100 upscale condominiums. The developer's diverse asset portfolio also includes Palisades Village, a highly tailored, neighborhood-scale commercial center in Pacific Palisades designed to match the coastal aesthetic of the community. In the luxury residential sector, the firm developed 8500 Burton Way, an iconic, ultra-luxury apartment tower near Beverly Hills featuring a ground-floor grocery anchor and resort-style tenant amenities. Its coastal retail holdings include Waterside at Marina del Rey, a premier waterfront shopping and dining destination. Additionally, Caruso expanded its hospitality platform into the ultra-luxury lodging market with the development of the Rosewood Miramar Beach in Montecito, a five-star oceanfront resort that highlights the firm's capacity to design and operate world-class estate properties.