Caruso

What Caruso does

Caruso is a privately held real estate development and hospitality company founded by Rick J. Caruso in 1991 and headquartered at 101 The Grove Drive in Los Angeles. The company creates and operates a portfolio of approximately 20 lifestyle retail centers, luxury residential properties, and mixed-use developments concentrated in Southern California. Its flagship assets—The Grove in Los Angeles and The Americana at Brand in Glendale—are among the most-productive open-air shopping centers in the United States, with The Grove ranking No. 2 nationally in sales per square foot and drawing more than 18 million annual visitors.

The underlying model combines curated tenant leasing (Nike, Apple, Nordstrom, Louis Vuitton, Tesla, Rivian, Ralph Lauren, and others), luxury residential rentals (8500 Burton Way, The Americana at Brand Luxury Apartments, Excelsior, and the forthcoming Commons Lane), and hospitality operations through the Rosewood Miramar Beach resort in Montecito, which holds a rare Triple Five-Star Forbes rating. Revenue mechanics are primarily recurring—long-term retail leases, residential rentals, hotel room nights, and the points-based Caruso Signature loyalty platform integrated with Visa, Mastercard, and American Express for card-linked offers and transaction monitoring. Distribution is entirely physical and regional: Caruso's owned properties serve as the access points for both consumer and enterprise customers.

Caruso employs a community-centered design methodology and experiential event programming (Christmas at The Grove, Nike Soccer World Cup activations, the Rivian Adventure Network rollout) to drive traffic and tenant performance. The portfolio sustains 99.5% retail occupancy and 100% residential occupancy, with The Grove delivering 62% higher sales per square foot than the industry average. Palisades Village, damaged in the January 2025 Pacific Palisades wildfires, is scheduled to reopen in August 2026 with approximately 60% of original tenants returning alongside new entrants.

Name

Caruso

Legal name

Caruso Management Company, Ltd.

Website

https://caruso.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Short description

Caruso is a privately held Los Angeles-based real estate developer and operator of luxury lifestyle retail centers, mixed-use properties, and the Rosewood Miramar Beach resort across Southern California, serving premium retail tenants, affluent consumers, and luxury residents.

Ownership category

akta.pro rank

Product category

Luxury Lifestyle Real Estate Development and Hospitality

NAICS

Furniture, Home Furnishings, Electronics, and Appliance Retailers (449), Consumer Electronics and Appliances Rental (532210)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Boutique Resorts (Small-Scale Resorts) (THAGADAJ)

Keywords

• Lifestyle retail centers
• Luxury real estate development
• Mixed-use properties
• Luxury hospitality resorts
• Residential property management

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Retail Property Leasing: Caruso generates primary revenue through leasing retail, dining, and entertainment spaces to tenants across its portfolio of lifestyle centers. The company maintains near-full occupancy (99.5%) across its retail portfolio.
2. Caruso Signature Loyalty Program: The company operates a points-based loyalty rewards program (Caruso Signature) where members earn points for purchases at partner locations, redeemable for events and experiences. This creates a recurring engagement model with consumers.
3. Residential Property Operations: Caruso operates luxury residential properties including apartments and condominiums at its mixed-use developments, generating rental income from residents.
4. Hospitality Operations: The company operates the Rosewood Miramar Beach resort, generating revenue from hotel stays, dining, spa services, and events at the property.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Caruso is a real estate development and hospitality company that owns and operates a portfolio of lifestyle retail centers, luxury mixed-use residential properties, and the Rosewood Miramar Beach luxury resort in Southern California. The company generates revenue primarily by leasing retail and dining spaces to premium tenants within its curated lifestyle destinations, operating luxury apartment and condominium residences, and running a five-star oceanfront resort with on-site restaurants and spa.

Product overview

Caruso operates a diversified portfolio of lifestyle retail centers, luxury residential properties, and hospitality destinations across Southern California. The core portfolio includes flagship retail properties (The Grove, The Americana at Brand, The Commons at Calabasas, Palisades Village, The Promenade at Westlake, Waterside at Marina del Rey, Village at Moorpark), luxury residential offerings (8500, The Americana at Brand Luxury Apartments, Excelsior), and the Rosewood Miramar Beach resort with its signature Caruso's restaurant and Sense Spa. The company also offers the Caruso Signature loyalty rewards platform and is expanding its portfolio with new developments including The Commons Lane residential expansion and Miramar Resort enhancements. Strategic partnerships include Rivian EV charging infrastructure and showrooms across portfolio properties.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Two of top five outdoor shopping centers in the country
• +2 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Two partnerships are on record, tiered core.

• RiviancoreStrategic or Co-development Partner · 27 April 2026Multi-year partnership to install 150+ public DC fast EV chargers across Caruso's Southern California portfolio, powered by renewable energy. Includes two new Rivian showrooms at The Commons at Calabasas and The Americana at Brand, ride-and-drive events, and free annual parking for Rivian owners in Caruso's Signature program. Rivian is presenting sponsor of Christmas at The Grove.
• Rosewood Hotels & ResortscoreStrategic or Co-development Partner · 1 January 2019Rosewood Hotels & Resorts manages the Miramar Beach resort property owned by Caruso. This partnership operates the luxury oceanfront resort featuring 153 rooms, multiple dining venues including Caruso's restaurant, Sense Spa, and exclusive beach club amenities.

Scale indicators12 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Simon Property Group: Largest U.S. shopping-center REIT operating premier malls and lifestyle centers (The Forum Shops at Caesars, The Shops at Columbus Circle), with comparable luxury and experiential retail strategy at scale — a public-market comparable for Caruso's flagship retail productivity thesis.
• Brookfield Properties: Operates a large portfolio of premier retail and mixed-use destinations (Manhattan West, TheMART, and former Westfield U.S. assets) with luxury tenant curation and mixed-use residential components — directly comparable at the asset-class level.
• Unibail-Rodamco-Westfield: Global operator of flagship shopping and lifestyle destinations (Westfield London, Westfield Century City) — comparable at the destination-retail operating model and luxury-tenant curation level.
• Howard Hughes Holdings: Owns and operates master-planned communities combining luxury retail, residential, dining, and office (The Woodlands, Summerlin, Ward Village) — a public-market proxy for Caruso's luxury, experience-driven, geographically concentrated model.
• Related Companies: Developer of large-scale mixed-use destinations (Hudson Yards, The Related Santa Monica, CityCenterDC) combining luxury retail, residential, and public space — closely parallels Caruso's mixed-use development playbook.
• Four Seasons Hotels and Resorts: Operator of globally recognized luxury hotels with destination fine-dining and spa concepts — directly comparable to Rosewood Miramar Beach at the brand-tier, service-quality, and resort-pricing level.

Direct peers

• Macerich: REIT focused on high-end, productivity-leading U.S. malls (The Grove-adjacent competitor set and Westside Pavilion/American at Brand peers), with luxury tenant mix and SoCal exposure that closely tracks Caruso's retail portfolio.
• Auberge Resorts Collection: Operator of ultra-luxury, design-forward boutique resorts with destination dining and spa — a hospitality comparable for Rosewood Miramar Beach on positioning, ADR, and experiential luxury offering.
• The Irvine Company: Privately held owner/operator of trophy Southern California lifestyle destinations (Fashion Island, Irvine Spectrum Center, The Village at Irvine Spectrum Center) and luxury residential communities — the closest analogue to Caruso by geography, private ownership structure, and luxury retail + residential + mixed-use model.

Regional players

• Vornado Realty Trust: New York-focused REIT with trophy street retail and mixed-use assets (Bergdorf Goodman building, 666 Fifth Avenue) — comparable at the high-end, prime-locale retail leasing model that defines Caruso's flagship approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/caruso

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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 Caruso