McDermott + Bull has successfully placed Rick Lapidos as Management Director, Head of Asset Management at Aria Development Group. Rick will be responsible for overseeing Aria’s asset management program to optimize the financial performance of properties across multiple states, working closely with internal and external stakeholders. He will formulate and execute asset-level business plans in addition to collaborating with the investments team on evaluating new projects.
Prior to joining Aria, Rick held several asset management leadership positions with Taconic Partners, Carmel Partners, and The Dermot Company. He brings extensive experience in institutional real estate asset management, particularly in the multifamily sector. Rick also brings expertise in executing turnarounds and value-add business plans.
Aria Development Group is an award-winning real estate company that has been at the forefront of reimagining city center living. The company was founded in 2009 to generate outsized risk-adjusted returns by marrying traditional hands-on real estate to classic value investment principles. Aria’s development portfolio comprises more than $1.5 billion of institutional-grade multifamily assets across the United States, ranging from adaptive reuse and repositioning to special situations to ground-up construction. Aria aims to transform illiquid and underutilized real estate in great locations into the next generation of multifamily residential.
This executive search was completed by McDermott + Bull Partner Sun-Sun de Swaan, Director Julia Markward, and Senior Research Associate Isabelle Karl.