Chief Investment Officer / Head of Acquisitions
Palisades Legacy I LP | $50M Ultra-Luxury Residential Development Fund
Los Angeles (Pacific Palisades / Westside focus) | Full-time

Build the acquisition engine for one of the most compelling post-event entry windows in U.S. real estate.

Palisades Legacy I LP is a newly formed $50M Delaware limited partnership sponsored by Aprisa LLC. We are acquiring and developing 5–8 ultra-luxury single-family homes in Pacific Palisades, California, capitalizing on the concentrated distressed opportunity created by the January 2025 fires. Our base-case underwriting targets ~17% net IRR and 2.0× MOIC through disciplined acquisitions at ~$1,500/sf (vs. $1,932/sf trailing 12-month market average) and institutional-grade development at $550/sf all-in.
We are seeking a Chief Investment Officer / Head of Acquisitions to own the entire front end of the strategy: sourcing, underwriting, and closing the 23-parcel pipeline we have already developed.

The Role

You will be the single accountable owner of deal flow and investment decisions. You will work directly with the Founder/CEO and the Investment Committee (currently being finalized with independent members) to execute a highly selective, three-tier acquisition strategy while maintaining rigorous MLS-comp underwriting and ownership engagement.

Key Responsibilities

Own and actively manage the 23-parcel pipeline across Core, Tier 1, Tier 2, and Watchlist categories

Lead all sourcing, underwriting, and due diligence — including full financial modeling, comparable analysis, environmental review coordination, and title/insurance diligence

Drive ownership outreach and negotiation on the highest-conviction parcels; leverage existing brokerage relationships and your own network

Present investment memos and recommendations to the Investment Committee

Maintain real-time market intelligence on Pacific Palisades and adjacent Westside sub-markets

Support capital formation and LP due diligence by providing portfolio-level acquisition updates and sensitivity analysis

What We’re Looking For

10+ years of direct acquisition or principal investing experience in luxury residential or high-end development (Southern California strongly preferred)

Licensed California real estate broker with a verifiable track record of closed transactions in Pacific Palisades, Brentwood, Beverly Hills, or comparable Westside enclaves

Exceptional underwriting and financial modeling skills (Argus or equivalent + custom Excel)

Proven ability to source off-market or lightly marketed opportunities and build trusted relationships with owners and brokers

Comfort operating in a first-time GP environment with high standards of institutional process and documentation

Deep understanding of California entitlements, post-fire recovery programs, and insurance market dynamics is a major plus

Nice to Have

Prior experience in value-add, opportunistic, or post-disaster residential strategies
Existing relationships with Pacific Palisades homeowners or estate attorneys
Family-office or small-fund PE real estate background

Compensation and Structure

Competitive base salary ($275k–$350k range depending on experience) + meaningful carried interest participation in the GP economics + performance bonus. Equity-like economics in a high-upside, concentrated strategy.

Location
Hybrid / Los Angeles Westside with regular site visits in Pacific Palisades. Some travel to meet owners and brokers.

This is a rare opportunity to help shape the investment platform of a focused, well-capitalized real estate fund from day one in one of the most supply-constrained luxury markets in America.

Apply on Wellfound or email your resume and a brief note on why this thesis resonates with you. References and deal examples will be requested for final candidates.