LOS ANGELES – Caruso Affiliated, one of the most successful privately held real estate development companies in the nation, announced that Jackie Levy has been promoted to Executive Vice President of Operations. Levy, who served as Senior Vice President of Operations at Caruso since early 2010, will expand his responsibility of managing all Caruso property operations totaling over 2 million square feet of residential and retail assets and more than $2 billion in asset value.

Since joining Caruso in 2006, Levy has successfully led the openings of the iconic Americana at Brand and 8500 Burton Way, Caruso’s newest luxury apartment complex that has achieved record rents in the Los Angeles market. He also oversaw The Grove’s 10-year anniversary project, which involved a complete center re-merchandising and $5 million Grand Lobby renovation. Under Levy’s continued leadership, the company’s Specialty Leasing portfolio has achieved 100 percent occupancy for three years in a row, while The Grove and the Americana at Brand have ranked among the top 15 most productive shopping centers in the world, according to a 2012 Shopping Centers Today report.

“Over the past seven years, Jackie has been a consistent asset to our team,” said Rick J. Caruso, Founder and CEO of Caruso Affiliated. “His passion for the business, along with his keen understanding of Caruso Affiliated’s core values, has enabled him to grow alongside our evolving portfolio of best-in-class properties.  We look forward to working with Jackie in his new role and are confident that his leadership will be an integral part of our continued growth and success.”

Jackie Levy is an experienced leader with a history of successfully managing residential and retail properties. He first joined Caruso Affiliated in April 2006 as Assistant General Manager of The Grove, eventually earning the title of General Manager and later Senior General Manager at the Americana at Brand. In late 2009, he became Vice President of Operations, responsible for managing all aspects of the company’s operating retail and residential assets in the portfolio. In this role, he launched Caruso University, a comprehensive, company-wide employee training program to enhance the guest experience. He served as Senior Vice President of Operations for over two years before becoming Executive Vice President of Operations. Prior to Caruso Affiliated, Levy held roles at Westfield and Cassle Communications.

For additional information about Caruso Affiliated: http://www.carusoaffiliated.com.

About Caruso Affiliated

Caruso Affiliated is one of the largest and most successful privately held real estate development companies in the United States. They develop, own and manage a portfolio of highly specialized retail and residential properties that command sales per square foot 75% above the industry average.  Average consumer expenditures nearly double that of regional malls and sales growth is nearly three times that of traditional malls. Its portfolio encompasses a world-class collection of properties that attract millions of people annually, including one of its premier developments, The Grove, which attracts more guests per year than Disneyland.  Two of Caruso Affiliated’s properties – The Grove and The Americana at Brand – rank in Shopping Center Today’s list of the top 15 shopping centers in the world based on sales per square foot.  Caruso Affiliated properties are designed to make them more than retail and residential sites, they are central gathering places for the communities they serve, as well as premier tourist destinations.  The Caruso Affiliated portfolio also includes the Caruso Affiliated Dining Group, which owns and operates six restaurants in Southern California.  On the hospitality side, Caruso Affiliated is in development on The Miramar Beach Resort and Bungalows, its first luxury resort property in Montecito, CA.  Caruso Affiliated is also currently spearheading one of the largest retail development programs in the nation, which is expected to generate $80 million annually in new taxes for state and local governments as well as 11,000 construction jobs and 8,000 permanent jobs. For more information, visit www.CarusoAffiliated.com

Media Contacts:

Caruso Affiliated / Liz Jaeger

T: 323-900-8170

E: LJaeger@carusoaffiliated.com

 

HL Group / Tara Pizzola

T: 646 460 8917

E: tpizzola@hlgrp.com