What Five Star Development does

Five Star Development is a family-operated, vertically integrated real estate acquisition, planning, and development company headquartered in Scottsdale, Arizona, founded in 1978 by the Ayoub family and led by President Jerry Ayoub. The company manages the full development lifecycle — site selection, entitlements, design, construction management, and project warranty — across five asset classes: residential, hospitality, retail/commercial, office, and industrial. It serves three primary customer segments: high-net-worth individuals purchasing luxury branded residences, luxury retail and dining operators leasing space in mixed-use developments, and Fortune 500 industrial users requiring distribution, manufacturing, and logistics facilities in the Southwest border region.

The company's flagship project is The Ritz-Carlton Paradise Valley and The Palmeraie, a $2 billion master-planned community on 122 acres in Paradise Valley near Scottsdale, comprising a 215-room Ritz-Carlton resort, 91 branded single-level villas and 45 single-family estate homes, and approximately 160,000 square feet of luxury retail in the initial phase. Other notable assets include the 698,853 square-foot Buckeye Business Center, a Class-A industrial facility in Phoenix, and over 7 million square feet of industrial facilities under active ownership and management throughout the Southwest border region. Five Star Development's go-to-market relies on direct sales through dedicated residence galleries, private sales events for villa releases, partnerships with commercial brokers such as CBRE and Dolce Vita Development, and earned media coverage in outlets including The Wall Street Journal and Forbes.

The business generates revenue from one-time real estate sales (villas priced from low $1M to over $5M, estate homes ranging 3,000 to 6,000 square feet), hospitality operations at the Ritz-Carlton resort, retail and commercial leasing, and build-to-suit professional services for corporate clients. The company operates regional offices in Scottsdale and El Paso and has been described as a 'Blue-Chip Choice' for commercial and industrial development in the Southwest. In November 2025, the company filed for Chapter 11 bankruptcy protection in Texas to facilitate completion of its flagship project, and in December 2025 a bankruptcy court confirmed clear title protections for villa sales, allowing closings to proceed. The company has no disclosed parent, no institutional investors, and operates as an independent family-owned firm with 11-50 employees.

Name

Five Star Development

Legal name

Five Star Development

Website

https://fivestardevelopment.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

11–50 employees

Short description

Five Star Development is a Scottsdale-based, family-operated real estate developer founded in 1978, executing integrated residential, hospitality, retail, office, and industrial projects across the Southwest for high-net-worth buyers, luxury retailers, and Fortune 500 industrial users.

Ownership category

akta.pro rank

Product category

Luxury Real Estate Development

NAICS

Lessors of Residential Buildings and Dwellings (531110), Traveler Accommodation (7211), Residential Building Construction (23611)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531), Hotels & Motels (7011)

akta.pro primary industry

Luxury Villa Resorts & Branded Villa Communities (THAMAEAI)

akta.pro secondary industries

Ultra-Luxury Villas & Estates (THAMAEAA), Urban Planning & Master Planning (BPAHAKAD)

Keywords

• Luxury real estate development
• Commercial real estate services
• Hospitality development
• Industrial property development
• Build-to-suit construction

Headquarters

HQ city

Scottsdale

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Sales: Revenue generated from the sale of luxury residential properties including villas, estate homes, and townhomes. Properties are sold at market rates with prices ranging from low $1 million to over $5 million for villas.
2. Hospitality Operations: Revenue from hotel operations at The Ritz-Carlton Paradise Valley, including room bookings, dining, spa services, and event spaces.
3. Retail and Commercial Leasing: Revenue from leasing retail and commercial spaces at The Palmeraie and other commercial properties, including industrial facilities and office spaces.
4. Build-to-Suit Services: Custom development services for corporate clients including site selection, entitlements, design, and construction management for industrial, retail, and commercial facilities.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Five Star Development is a family-operated, integrated real estate acquisition, planning, and development company that manages, develops, and invests in five asset classes: Residential, Hospitality, Retail/Commercial, Office, and Industrial. The company delivers build-to-suit services, manages luxury branded residences (such as The Ritz-Carlton Residences, Paradise Valley), operates mixed-use retail and hospitality destinations (such as The Palmeraie), and owns and operates industrial facilities (such as Buckeye Business Center) across the American Southwest.

Product overview

Five Star Development is a family-operated real estate acquisition, planning, and development company operating as a single integrated platform across five asset classes: Residential, Hospitality, Retail/Commercial, Office, and Industrial. The company manages the complete development lifecycle from site selection through construction and project warranty. Key branded products include The Ritz-Carlton Paradise Valley luxury resort and residences and The Palmeraie retail/dining destination—both part of a $2 billion master-planned community in Paradise Valley, Arizona. The company also operates industrial properties including Buckeye Business Center and provides build-to-suit services for Fortune 500 clients.

Differentiator

Problem solved

Functional benefit

Products and services

• The Palmeraie A luxury retail and dining destination spanning approximately 160,000 square feet on 18 acres at the corner of Scottsdale Road and Indian Bend in Paradise Valley, Arizona, featuring over 60 luxury and specialty boutiques and dining destinations by celebrated local and international chefs, with future phases including collectible luxury residences, gourmet grocery store, and boutique hotel.
• The Ritz-Carlton Paradise Valley A 215-room Ritz-Carlton luxury resort with surrounding villas and estate homes in Paradise Valley, Arizona, featuring North America's longest pool at over 400 feet, a 30,000 square-foot spa, and full Ritz-Carlton hospitality services including concierge, dining, and housekeeping.
• The Ritz-Carlton Residences, Paradise Valley Ritz-Carlton branded whole-ownership residences consisting of 91 single-level villas (1,500 to 4,000+ square feet) and 45 single-family estate homes (3,000 to 6,000 square feet), featuring dedicated concierge, priority access to hotel amenities, in-residence dining, and housekeeping. Priced from the low $1 million to over $5 million.
• Buckeye Business Center A 698,853 square-foot, multi-tenant Class-A industrial facility in Phoenix located at 8585 W. Buckeye Road, built in 2015, with bay sizes of approximately 20,457 square feet, 32-foot clear heights, dock equipment, and Foreign Trade Zone capability. Marketed and leased through CBRE.
• Commercial & Retail Development Build-to-suit development of commercial and retail facilities including grocery, large retail, and boutique retail construction for well-known name brands.
• Industrial Real Estate Development Development and operation of industrial real estate, currently owning and operating over seven million square feet of industrial facilities throughout the Southwest border region.
• Office Real Estate Development Development of innovative office environments with services spanning site selection through due diligence, entitlements, and build-out.
• Residential Real Estate Development Development of superior quality homes in luxury communities in California and Arizona, with guidance provided through each phase of the building process.
• Hospitality Development Construction of hospitality facilities in the Southwest, including the Ritz-Carlton Paradise Valley project featuring guest rooms, villas, meeting space, upscale restaurant, and spa.
• Build-to-Suit Development Services Integrated development and construction management services including site selection, entitlements, financial feasibility, design/building solutions, construction management, and project warranty for Fortune 500 companies.

Quantifiable outcome

• Over 20 million square feet of real estate developed across the Southwest
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered flagship and core.

• Ritz-CarltonflagshipStrategic or Co-development PartnerStrategic brand partnership for The Ritz-Carlton Paradise Valley development. The project includes a 200+ room Ritz-Carlton resort surrounded by branded villas and estate homes, with full Ritz-Carlton services including concierge, dining, and housekeeping.
• CBREcoreChannel Partner/ Reseller/ DistributorCBRE was enlisted to lease and market the 698,853 square-foot Buckeye Business Center in Phoenix. Pat Feeney, Dan Calihan and Rusty Kennedy lead the marketing and leasing efforts for this Class-A industrial facility.
• Retail Portfolio Solutions (Hanna Struever)coreImplementation/ SI/ Consulting PartnerHanna Struever, principal of Retail Portfolio Solutions, consulted to guide and create the luxury merchant mix for The Palmeraie. Previously responsible for Highland Park Village in Dallas with luxury brands including Hermes, Chanel, Dior, and Celine.
• Dolce Vita DevelopmentcoreChannel Partner/ Reseller/ DistributorDolce Vita Development of Scottsdale leads the leasing efforts for The Palmeraie retail destination.
• Nelsen PartnerscoreStrategic or Co-development PartnerNelsen Partners is heading up the architectural vision for The Palmeraie project, responsible for the innovative design creating indoor and outdoor spaces that blur lines between architecture and landscape.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Discovery Land Company: Discovery Land Company develops ultra-luxury private residential communities with branded resort-style amenities (golf, spa, concierge), directly comparable to Five Star's Ritz-Carlton Residences Paradise Valley model of whole-ownership luxury villas integrated with five-star hospitality services.
• Woodbine Development Corporation: Woodbine Development Corporation is a Dallas-based luxury hospitality and mixed-use developer behind projects like The Ritz-Carlton Dallas and luxury ranch developments, with a comparable model of branded luxury hotel + branded residences developments similar to Five Star's Ritz-Carlton Paradise Valley.
• Sun Communities: Sun Communities operates a portfolio of manufactured housing and RV/marine resort communities with a development platform and amenitized residential model partially comparable to Five Star's resort-integrated residential strategy, though Sun focuses on a different income tier.
• Howard Hughes Holdings: Howard Hughes Holdings is a publicly traded master-planned community developer (Summerlin, The Woodlands, Bridgeland) with a similar integrated large-scale mixed-use development model — combining residential, retail, hospitality, and commercial — comparable to Five Star's $2B Paradise Valley master plan.

Emerging players

• The Athens Group: The Athens Group is a Scottsdale-based luxury hospitality and residential developer known for projects like The Phoenician Residences and Montage Residences, with deep Southwest regional expertise comparable to Five Star's Scottsdale/Paradise Valley focus.
• Auberge Resorts Collection: Auberge Resorts is a luxury hotel and residential brand operator with comparable expertise in ultra-luxury hospitality experiences and branded residential offerings, though operating as a brand/operator rather than developer of real estate assets like Five Star.

Broad incumbents

• Trammell Crow Company: Trammell Crow is a major commercial real estate developer with deep expertise in office, industrial, and mixed-use developments across the U.S., comparable to Five Star's build-to-suit commercial and industrial development services for Fortune 500 clients.
• Toll Brothers: Toll Brothers is a publicly traded national luxury homebuilder serving affluent buyers across the U.S., comparable to Five Star's luxury residential development segment though operating at much greater scale and a wider geographic footprint.
• Catellus (Prologis): Catellus, now part of Prologis, was a master-planned mixed-use and industrial developer with comparable expertise in transforming large land parcels into integrated commercial, industrial, and mixed-use developments — similar to Five Star's multi-asset-class approach.
• Related Companies: Related Companies is a much larger luxury mixed-use developer behind Hudson Yards and CityCenterDC, with comparable expertise in branded luxury residences integrated with hospitality and retail, though operating at significantly greater scale across multiple U.S. cities.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/five-star-development

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Five Star Development