Recent hires indicate that commercial real estate firms are bolstering their multifamily investment sales and financing operations in Chicago as the city leads the country in rent growth.
Chicago-based development firm Murphy Real Estate Services promoted David Ariola to president, the company announced last month. In his expanded role, Ariola will lead Murphy Real Estate’s efforts to raise capital and find new partners for value-add projects and ground-up development, according to a press release.
The company is putting a particular focus on development opportunities in the multifamily sector. In Ariola’s prior title as managing director he has over 30 years of experience, including overseeing Chicago multifamily developments Highpoint at 8000 North Lincoln, The Paragon and 318 North Carpenter. He holds an MBA from Northwestern Kellogg School of Management and a Bachelors of Science in civil engineering from the University of Illinois.
Commercial real estate investing specialists Walker & Dunlop relocated its Midwest multifamily investment sales leader Matt Jones from Grand Rapids, Michigan to Chicago to better capitalize on the market’s strong metrics, the company announced. Before joining Walker & Dunlop, Jones was a senior vice president of multifamily investments at Colliers, specialising in the Midwest region.
Walker & Dunlop is putting extra emphasis on Chicago because Chicago-area multifamily sales volume was up 30 percent from the prior year, and the city led the country’s top markets in rent growth, according to CoStar and YardiMatrix data cited in the Walker & Dunlop news release about Jones’ relocation.
Oakbrook-based Inland Real Estate Group, one of the country’s largest real estate investment firms with 1,200 employees in 49 states, hired two new executives. Jacqueline Dagan joined as associate general counsel and Dhaval Parikh joined as head of institutional capital formation.
Parikh will lead the company’s capital raising efforts. Most recently, he served as head of capital raising and investor relations at Parkview Financial. He has also worked in similar roles at Ares Management, MetLife Investment Management and BlackRock. He holds an MBA from Baruch College and a Bachelor’s Degree from Stony Brook University.
Also new to Inland, Dagan most recently served as general counsel and chief compliance officer at TOMS Capital Investment Management. At TOMS she oversaw legal and compliance efforts at the $3 billion hedge fund. She has also worked in legal roles at BentallGreenOak and MetLife Investment Management. Dagan earned her J.D. at Fordham University and holds a Bachelor’s Degree in psychology from The University of Michigan.
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