Principal, Multifamily Development

About This Role: Ares Management, a global alternative investment manager with approximately $400 billion in assets under management, is seeking a Principal for its Multifamily Development platform in Los Angeles, California. This senior-level Market Leader will serve as the regional head for the Southern California market, with direct responsibility for the financial performance of the market office. The Principal will lead all aspects of multifamily development deal flow in Southern California. This includes sourcing and evaluating development opportunities that align with Ares's strategic and financial criteria, negotiating transactions from Letter of Intent through closing, and presenting deals to the firm's Investment Committee. The role requires deep market relationships with brokers, owners, and development partners, as well as the ability to structure and underwrite complex capital stacks across multifamily assets. Key responsibilities include managing the full pursuit process for development deals, overseeing annual operating budgets and quarterly forecasting, and leading and mentoring the local market office team. The Principal will also arrange investor and analyst tours of target markets and existing portfolio assets, and will represent Ares externally within the Southern California real estate community. Candidates should bring 10 or more years of multifamily real estate development experience, with a demonstrated track record of sourcing and closing development transactions. Strong financial modeling and underwriting capabilities are required, including fluency with capital stack structures and investment returns analysis. Familiarity with architectural, engineering, and construction processes relevant to multifamily development is expected. The ideal candidate is a proven team leader capable of growing the market office capability and driving financial performance in one of the most active multifamily markets in the United States.